Why Foreign Buyers Keep Looking at Italy: The September Update

In February, two years on from REFUTURE, I revisited a theme first addressed at the Italian Chamber of Deputies: foreign buyers' perception of Italy remained more favorable than domestic bureaucracy might suggest. Seven months later, recent data confirms that reading: the CEO of Engel & Völkers Italia states that the company sells "an average of 8 properties a day in Italy," with demand that the Market Report Italia 2026 explicitly attributes to "foreign buyers seeking exclusive residences."

What's changed since February. The fiscal landscape has moved in favor of those relocating: as of January 1, 2026, the flat tax for new residents rose from €200,000 to €300,000, but with a higher threshold comes greater regulatory-stability assurance, something foreign buyers often cite as a reason for confidence. On the pricing front, top values in the prime market remain on a growth trajectory: Milan up to €27,000/sqm, Costa Smeralda up to €35,000-47,000/sqm.

What's been confirmed and what's still worth watching. The main driver observed in February is confirmed: foreign demand remains a bigger driver than domestic demand in the ultra-prime segment. Still worth monitoring is the impact of short-term rental regulation, identified by the same report as one of the market's three drivers.