2023 Real Estate Market Insight and Forecast in West Liguria, Italy

Insightful Dynamics and Trends in West Liguria’s Real Estate Sector: Overview

From 2015 to 2023, the real estate landscape in West Liguria, Italy, displayed a compelling evolution in transaction dynamics, marked by a significant interplay between Italian and foreign buyers, and an increasing draw towards the area’s prime real estate, according to Matteo Scandolera, Managing Director of LiguraHomes Casamare.

Initially, the West Liguria market presented a balanced appeal to both Italian and international clients. However, there has been a notable shift occurred over time, with a steady increase in international transactions strengthening West Liguria’s growing position on the global stage.

At times out performing the rest of Italy in terms of proportion of international sales, Scandolera notes: “This rise speaks volumes about West Liguria’s desirability, driven by its lifestyle, culture, and investment potential. As the market has evolved, a stabilization in transaction distribution between Italian and foreign buyers emerged, reflecting a matured appeal across diverse demographics.”

Real Estate Market trend in Liguria

Most recently, investment has been seen in new and improved Marina’s along the Italian Riviera coast. Premium marina operator D-Marin took over two new marinas, Marina degli Aregai, one of the largest in the Liguria with 961 berths and Marina di San Lorenzo with 268 berths. Both marinas have addition attractions, including restaurants and hotel.

In January 2024, it was announced that Marina Development Corporation (MDC), which is at the helm of the brand new Marina Cala del Forte in Ventimiglia, is partnering with Chastworth Schools to operate and manage the Borgo del Forte Campus, a large purpose-built international educational and sports campus.

Simultaneously, the redevelopment of San Remo’s old marina area is underway, promising to redefine the city’s waterfront. Porto Vecchio revitalization will include enhancing public spaces, improving marina facilities, and introducing commercial and recreational amenities.

“Such developments are designed to invigorate the area, making it a more attractive destination for residents and visitors alike, creating a positive impact on property values and investment opportunities”, Scandolera comments.

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Video: Why San Remo is the best place to live in Italy?

Welcome to the charming town of San Remo, nestled along the picturesque coastline of Italy. Today, we embark on an exciting journey to explore why Sanremo stands out as the best place to live in Italy.

Join me, Matteo Scandolera from LiguriaHomes Casamare real estate agency, as I share my insights from my recent interview. Brace yourself for stunning views, delectable seafood, and a vibrant lifestyle that will capture your heart.

Why San Remo is the best place to live in Italy?

Why San Remo? Sanremo offers a remarkable blend of natural beauty, cultural richness, and a thriving community that welcomes both locals and foreigners alike. As a resident of Sanremo for several years, I can confidently say that this enchanting town has something for everyone.

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Joining the National Association of Realtors (NAR) for Your Liguria Property Search

We are thrilled to announce that we have recently become a proud member of the esteemed National Association of Realtors (NAR), – the leading professional association for Real Estate agents in the United States – reinforcing our commitment to providing exceptional real estate services.

If you are searching for a property in the breathtaking region of Liguria, Italy, our NAR membership brings a wealth of advantages that can enhance your property search experience.

How our NAR membership specifically benefits buyers looking for properties in Liguria:

  1. Insider Knowledge of Liguria’s Real Estate Market: As NAR members, we have access to a vast network of experienced real estate professionals, including those with expertise in the Ligurian market. We stay up-to-date with market trends, local regulations, and the latest developments in Liguria’s real estate landscape. This insider knowledge allows us to guide you through the intricacies of the region, providing valuable insights and ensuring you make informed decisions throughout your property search.
  2. Extensive Listings and Exclusive Opportunities: Our NAR membership opens doors to a wide range of listings and exclusive opportunities in Liguria. We have access to an extensive database of properties, including coastal villas, charming apartments, and picturesque countryside estates. Whether you seek a coastal retreat in the vibrant towns of San Remo or Bordighera or Alassio or a tranquil countryside escape in the hills of Dolceacqua, Dolcedo or Seborga, our network connections and resources ensure that we can present you with a diverse selection of properties that match your preferences and budget.
  3. Local Connections and Collaborations: Our NAR membership enables us to establish meaningful connections with local professionals, including real estate agents, property developers, and industry experts in Liguria. Through collaborations and partnerships, we can provide you with an integrated approach to your property search. Whether you require legal advice, mortgage assistance, or architectural services, our extensive network allows us to connect you with trusted professionals who can facilitate a smooth and successful transaction.
  4. Expert Guidance and Negotiation: Navigating the real estate market in Liguria can be complex, especially for international buyers. With our NAR membership, you benefit from our expert guidance and negotiation skills. We assist you throughout the entire buying process, from property inspections to price negotiations, ensuring that your interests are protected and that you achieve the best possible outcome. Our expertise in the Ligurian market empowers us to provide you with valuable market insights and guidance, enabling you to make informed decisions and secure your dream property in Liguria.

As a NAR member, we are dedicated to elevating your property search experience in Liguria, Italy. Our insider knowledge, extensive listings, local connections, and expert guidance ensure that you receive unparalleled support and access to exclusive opportunities. Whether you are searching for a coastal hideaway or a countryside retreat, our resources and expertise will be able to assist you in finding your ideal property in Liguria. Contact us today to start your journey towards owning a piece of this enchanting region.

Matteo Scandoleramatteo@liguriahomes.comLiguriaHomes.com

Best questions to ask a Real Estate Agent when buying property in Italy

Buying a property is a huge decision, and it requires a lot of research and preparation. One of the most important steps in the process is finding a reliable real estate agent who can guide you through the buying process. It’s essential to ask the right questions to ensure that you’re working with an experienced and knowledgeable professional. In this blog post, we’ll discuss the best questions to ask a real estate agent when buying a property.

Questions to Ask a Real Estate Agent

  1. How long have you been working in the real estate industry? The experience is a crucial factor when choosing a real estate agent. An experienced agent will have a better understanding of the local market and will be able to provide valuable insights into the buying process. If you’re working with a new agent, ensure that they have a mentor or an experienced team to guide them.
  2. What type of properties do you specialize in? Real estate agents usually specialize in certain types of properties, such as residential, commercial, or luxury properties. It’s essential to work with an agent who specializes in the type of property you’re interested in buying. This will ensure that they have in-depth knowledge of the market and can provide you with the best options.
  3. Can you provide references? A reliable real estate agent will have no problem providing you with references from previous clients. Reach out to these clients and ask about their experience working with the agent. This will give you a better understanding of the agent’s communication skills, reliability, and professionalism.
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Special tax regimes in Italy

Due to its history, culture, geography, cuisine, and quality of life, Italy is one of the most popular places in the world to live. Italian taxes, on the other hand, are a common factor that causes many people to pass on the relocation.

When you permanently move to Italy, you will be considered an Italian resident and will be required to pay taxes on your worldwide income. However, there are two favorable special fiscal regimes that can make the move more appealing: “Flat Tax for Wealthy Foreigners (HNWI) new residents” and “Inbound workers regime”.

High Net Worth Individuals (HNWI) are typically discouraged from changing their tax domicile to Italy because doing so would have a negative impact on their personal wealth. Italian income tax rates are among the highest in the OECD and, in order to address this issue, the Italian government in 2017 implemented a Flat Tax, a new tax structure designed specifically for new citizens of Italy.

To qualify, you must have not been resident in Italy for 9 of the last 10 years and meet residency requirements. HNWI new residents are required to pay a lump sum of €100,000 on all foreign income and €25,000 for relatives. This does not include incomes generated in Italy and must be paid on June 30th of each year.

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The Real Estate Market in Liguria in 2022: A Look at the Performance and Trends

The Real Estate Market in Liguria in 2022: A Look at the Performance and Trends

The real estate market in West Liguria, Italy, saw a significant surge in demand and growth in the year 2022. The region, famous for its scenic coastline, stunning views and rich cultural heritage, has long been a popular destination for both domestic and international buyers. The market has been experiencing steady growth in recent years, but in 2022, it reached new heights.

According to the Tax and Revenue Agency, the number of homes sold in the region increased by 13% in 2022 compared to the previous year. This growth was largely driven by an increase in demand from foreign buyers, particularly from France, Germany, Scandinavia and USA. These buyers were attracted by the region’s excellent quality of life, favourable climate and proximity to an International airport.

The average price of homes in Liguria also saw a significant increase in 2022, rising by 7% compared to the previous year. This was driven by a combination of factors, including a shortage of available properties, increased demand from buyers, and rising costs for building materials. Despite these increases, prices in the region still remain relatively affordable compared to the neighbouring French Riviera, making it a better option for many buyers.

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