Luxury Real Estate in Italy: Wealth Grows, Ownership Consolidates, and Second Homes Boom!

The luxury real estate market in Italy remains solid, selective, and growing, supported by rising wealth, an increasingly property-oriented demand, and a structural strengthening of the second home segment and investments in high-end living.
• Number of taxpayers earning over €120,000 annually has grown by 39% since 2008
• Luxury second homes: +22% in the last year, volumes almost doubled in 10 years
• Luxury living investments exceed €300 million in 2025, with Milan accounting for 79%
A major real estate group specializing in the sale and rental of luxury properties states:
"The luxury residential market in Italy remains increasingly structured, with solid demand concentrated in major urban centers and elite tourist destinations. Milan leads the way in terms of value intensity and investment attractiveness, while luxury second homes are showing dynamic growth, fully aligned with the primary market. At the same time, a clear unmet need emerges, especially in the medium-to-high end segment, particularly for smaller units (studio and one-bedroom apartments). This signals an evolving demand, including among the high-spending target population, which opens up new opportunities for development and upgrading of the offering."