Russians are now actively buying real estate, and Russians have always had an interest in real estate in Italy.
An increase in the number of students, a decrease in family size, an aging population, and growing
urbanization create internal demand for real estate in Italy, especially in the investment market.
Rome cannot boast of a number of new buildings compared to other European cities, but the residential
real estate market has been on the rise since 2017, and now it is a fairly stable market.
Italy’s housing market is recovering gradually, despite the country´s struggling economy. Demand is now
rising. Residential construction activity is increasing. About 90% of real estate transactions are in Italians.
Foreign buyers account for about 5-10% of all transactions in Rome as a whole. Moreover, in the low-cost
housing segment there are about 20% of them. Among foreign buyers there are many citizens of the USA,
France, Great Britain, Switzerland, Scandinavian countries. International buyers are more interested in
buying property as an investment or for use as holiday homes.
In Rome, there are no restrictions for foreigners to purchase real estate, and taxes in Italy are among the
lowest in Europe. Until 2015, Russians occupied the 3rd place among real estate buyers in Rome. But at
present, Chinese and Arabs prevail among foreign buyers. Buying a home by non-EU citizens gives you the
right to count on a “golden visa” provided that you invest in real estate in excess of 1 million euro. Most
often, the residence permit is requested by citizens of China and Russia.
There are more and more Russians interested in buying residential real estate in Italy: over the past two
years, the number of requests has increased by 60%. Most often, Russian buyers are interested in regions
Tuscany, Liguria, Lake Como and Garda, and partly Calabria. The demand for real estate in Italy from
Russians from large cities of Russia (Moscow, St. Petersburg, Nizhny Novgorod, Novosibirsk, Yekaterinburg,
etc.) has increased from the middle class, who are considering the purchase of apartments or small villas.
Russians occupy a very small part of real estate buyers in Rome – about 15%. The average budget for an
apartment in Rome among Russians is from 500 thousand - 1 million euro. In the central quarters of the
capital, the cost often exceeds € 10,000 / sq m. On average, it’s worth counting on € 5,000-6,000 / sq m.
Rental rates for housing in the historic center of Rome are in the range of 21-29 euro / sq m. At the same
time, the annual rate growth is observed on average by 4%. The most interesting areas for the acquisition
of real estate may be the areas of Parioli or Trastavere with redevelopment projects.
For wealthy Russian buyers, owning property in Italy is a sign of wealth and status. The interest on the part
of Russians in buying commercial real estate is constantly growing, which guarantees obtaining a residence
permit in Italy based on business reasons. The Russians prefer to buy real estate in good condition, with
perfect finishes, because they do not want to have difficulties associated with repairs in Italy. It is very rare
to buy housing that needs repair.
Russians that buy real estate in Rome are paying more attention is paid to custom-made, personalized
housing solutions with innovative services ranging from a personal architect to the concierge as if living in a
luxury hotel, right up to the cookery service with chefs available to make dinner for homeowners in their