Milan (Lombardy), Rome (Lazio), Venice (Veneto). These are the cities on the podium for the locations chosen by wealthy Europeans interested in finding a fine residence in Italy. 9.1% choose the city of the Madonnina, in first position compared to 8.7% of those who choose the Italian capital. In third position is Venice with 2.5 percent.

While the market in large Italian cities is running again as far as prices and volumes are concerned, there are also excellent performances of tourist destinations and new trends such as the regeneration of secondary areas. Meanwhile, the services market outpaces real estate transactions themselves in value.

Not just big cities, though. Above 2 percent are two other places that are popular with foreigners: Como in Lombardy (2.1 percent) and the white city of Ostuni in Apulia (2 percent). In the preference range of 1.7 percent to 1.2 percent are three well-known seaside resorts frequented by the beautiful world: Porto Cervo in Sardinia (1.7%); Forte dei Marmi in Tuscany (1.6%); Arzachena also in Sardinia (1.2%).

Also in the same range is the city of Trieste in Friuli Venezia Giulia (1.4%). Finally, Capri (Campania), Olbia (Sardinia) and Florence (Tuscany) each gather about 1 percent of the total luxury demand to our country.

British buyers win in Milan, with 28.6 percent. The Swiss also love Milan with about 20%. Venice, on the other hand, attracts strong interest from the French, who go as high as 36.4 percent, French who also love Capri very much with 25.5 percent. The Swiss (32.3%) are also found in Forte dei Marmi and Trieste, along with the Austrians (45.6%).

In contrast, the city that sees a more even distribution is Rome. The capital is loved by the French, Germans and British in fairly equal proportions, with 19 percent of the former and 15 percent each for the other two.

Among the well-established trends for foreign investors in Italy are certainly worth noting, less visible but steadily growing investments in markets hitherto regarded as niches of little consequence. Investment by foreigners, the British in the lead, but also Germans, northern Europeans and Americans in low-value properties in inland areas is now the real driver of the market. These are not investments in farmhouses or aristocratic mansions, but in the vast majority of properties located in small municipalities and to be used partly as vacation places, but increasingly as primary residences. In a sample of more than 50 municipalities, with less than 10 thousand inhabitants and distributed throughout the country, more than 70 percent of transactions involve foreigners. Again, the British turn out to be the main buyers with more than 50 percent of transactions.

Among new buyers, a final surprise bodes well for our smaller municipalities. While for the big cities, fine properties attract a high-end clientele with an average age above 55, for the "minor" market in the interior areas the buyer profile is totally different. Professional, aged between 30 and 40 and with a strong interest in being able to reside, not just buy a second home or trophy asset.