Sale of luxury properties in the first half of 2021: the trend of the sector

The last two years between the pandemic and the economic recession have put our country and the world in general to a severe test. However, there are sectors that have not been affected at all by the complicated period that we have all gone through. One of these is the luxury real estate sector.

For some time, Italy has been in the crosshairs of buyers from various foreign countries, who see the beautiful country as the ideal place to buy a property and, why not, move to live there permanently. Most of the customers interested in prestigious properties come from Northern Europe, America, Russia, Switzerland, Arabia and even China.

What stands out in particular is the strong demand for the purchase and rental of luxury properties by millionaires who intend to spend the summer months in some renowned Italian locations. Among the reasons that push these super rich to choose Italy as a destination for their holidays or for long periods of stay, there is certainly what our country, unlike others (such as Greece or neighboring Spain) appears safer from a health point of view.

"Lately we have been receiving continuous requests for rental properties in Italy, both in renowned seaside resorts (Sardinia, Liguria, Campania, Sicily), villas located on the lakes (Como and Garda), and penthouses in the most evocative cities of art ( Florence, Rome, Milan, Naples, Venice). However, there are also requests for estates that are located in central Italy ", says Claudio Citzia, CEO of Luxforsale.it.

Data regarding purchases and rentals in the first half of 2021

According to data collected by the authoritative source "Prime Residential World Cities Index" by Savills Aguirre Newman, the global residential market is stable. Faced with a sharp rise in property prices, over 70% of locations experienced positive growth in interest from buyers and tenants.

As regards the rental market specifically, there was an increase of 0.5% in the first half of 2021. This figure is very evident, especially when compared with that of the same period of the year 2020.

If we consider luxury properties, the increase in sales concerns in particular properties that exceed 10 million dollars in value.

According to a recent research conducted on the subject by Knight Frank, among the cities in the world that have experienced a surge in real estate transactions is New York (followed by Los Angeles, Hong Kong, London, Sydney, Singapore and Dubai).

In Italy too, the luxury real estate market in the first six months of 2021 has reached important numbers that bode well for the future.

As Claudio Citzia, CEO of Luxforsale pointed out, “We have decided to exclusively analyze the requests relating to the first half of the buyers with a budget of more than 5 million euros and tenants with a minimum budget of 25,000 euros per month. Some very interesting data emerged ”.

For example: the more the price increases, the more requests to purchase luxury properties increase. Some buyers also expressly ask to select properties located near ports and airports, in order to be able to move more quickly from one place to another.