International appetite for property in Italy is rebounding in 2017, reveals the latest Hotspots Index from TheMoveChannel.com. The quarterly report, which charts the most searched-for property locations around the world, saw Italy seize back first place in the chart, with Florence emerging as the number one property hotspot of Q3 2017.
The Italian tourist favourite accounted for 1.65 per cent of all searches by location on TheMoveChannel.com from July to September 2017. Florence fell to third place in the index in Q2 2017, with Alessandria becoming the most popular location in Italy among foreign buyers. Now, Florence is flying to the top once more, leading a charge of Italian destinations up the table. Rome was the second most searched-for location in Q3 2017, with 1.46 per cent of searches, followed by Verona (1.18 per cent) and Napoli (0.79 per cent). Padua completed the top five, with 0.63 per cent of searches.
Italy accounted for every single one of the top five hotspots in the index, and eight out of the top 10, with previous champion Spain accounting for just two of the top 10, down from five. This is the second quarter in a row that Italy has seen its popularity climb: Italy accounted for 30 of the top 50 hotspots in Q3, up from 13 in Q2 and the second highest number ever recorded by a country on TheMoveChannel.com. Spain accounted for 11 out of 50 in Q3, down from 26 in Q2.
Portugal accounted for 2 of the top 50 in Q3, down from six in Q2 and eight in Q1. Greece and France both accounted for one hotspot each: Zante in 17th and Bordeaux in 48th respectively. Cape Verde was a new entry in the Hotspots Index for Q3 2017, with Santa Maria receiving the 12th highest share of location searches – the first time the country has ever appeared in the top 50.
Spain’s most popular hotspots were Malaga (0.61 per cent) and Benidorm (0.54 per cent), with Almeria falling from first place to 13th (0.51 per cent) and Barcelona and Tenerife both leaving the top 50 altogether. Portugal’s most popular hotspots are Cascais (0.41 per cent) and Funchal (0.32 per cent), with Q2 hotspot Albufeira falling out of the top 50.
“With property prices recovering in Spain and Portugal, enquiries for European property on TheMoveChannel.com have been dominated by both countries in recent quarters,” comments TheMoveChannel.com Director Dan Johnson. “Italy has also seen overseas interest rise on several occasions, although this has never been a sustained climb in interest. Enquiries for Italian real estate spiked at the start of 2017, before dipping once again. TheMoveChannel.com’s Hotspots Index captures interest from buyers at an earlier stage of the purchasing process, highlighting the ongoing appeal of Italian property, even if market conditions or other factors have not led to completed transactions. What has been consistent, though, is that Florence, Rome and Napoli are typically the main drivers of interest, as overseas investors particularly look to Italy’s coastline for holiday homes. With national house price decreases slowing after eight years of decline, will 2017 prove to be the year that appetite for Italian property returns in full?”
The Top 50 Hotspots on TheMoveChannel.com in Q3 2017 are as follows:
|12||Cape Verde/Santa Maria||0.52%||New|
|14||Spain/Province of Alicante||0.51%||7|
|31||Spain/Province of Girona||0.36%||-4|
|44||Spain/Province of Tarragona||0.31%||New|
|47||Spain/Castillo de la Duquesa||0.29%||New|