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What has happened? Sicily is in the spotlight of the international market. According to Century 21 Italia analysts, this island region will be one of the most popular home buying destinations for foreign investors.
According to the US property giant, Sicily is on the contrary with the sales trend in Italy. In addition, the region is experiencing rising rental prices. At the same time, prices in Sicily will remain more interesting than in the rest of the country.
Quote. “Sicily is one of the most sought after destinations by international customers and this is due to a series of factors - comments Marco Tilesi. CEO & Co-Founder of CENTURY 21 Italy. - Firstly, due the beauties of the place. And then, And then, since the recovery in buying and selling prices has been slower in Sicily than in the rest of Italy, in the face of rising rental prices, such buy to let properties could become a very profitable investment from the point of view of those who buy a house."
Context. In fact, while sales prices in the rest of Italy recorded +2.3% last year, in Sicily they only rose by 0.9%, while rental prices in Sicily are higher than in the rest of Italy. Rental rates have experienced a strong increase: +8% compared to the all-Italian +5.2%. This has resulted in the average return on residential property has reached 8.5% per annum (it has never been so high for the last 10 years).
Source: Idealista
Photo by Ruth Troughton on Unsplash
