Pandemic coronavirus did not prevent foreigners to look for housing to buy in Italy. In General, due COVID-19 internal and external demand for real estate in the country decreased, but the share of nonresidents in the market increased, according to the portal Idealista, citing its own investigation.
According to analysts, in March and the first half of April visitors are most often interested in the objects in the Lombardy region of Italy, the most severely affected by the pandemic. Probably, many expect a fall in the value of real estate in this area, experts state.
Foreigners with the beginning of the pandemic rushed to buy a property in Sicily, Sardinia, Apulia, Calabria, Tuscany, in the areas of the fab four lakes (Como, Garda, Iseo and Maggiore) and the ski resorts of the country.
“Despite the fact that Northern Italy most affected by the crisis in healthcare, there is growing international demand for property in the provinces bordering the lakes. This is the place, interested buyers from USA, Germany, Russia, Switzerland, the UK and France. In General, we did not notice any significant drop in international demand during the period of distribution COVID-19,” said jada Marino, chief analyst Idealista Italy.
Earlier, in April, it was reported early sales of property in Italy and France. According to the observations of realtors, in General, in the context of pandemic coronavirus from the beginning of March 2020 increased the number of foreign villas and apartments for sale with a discount up to 30 percent.
