The holiday home market in Italy

In the first half of 2024, 6.8% of sales concluded through Tecnocasa and Tecnorete affiliated agencies involved vacation homes, confirming a trend consolidated in recent years. This type of purchase responds to the increasingly widespread desire to own a second home in tourist locations, both as a refuge for personal vacations and as a real estate investment.

Typological preferences

According to the analyses of the Tecnocasa Group Research Office, the three-room apartment is confirmed as the most requested typology, representing 31.8% of sales, followed by independent and semi-independent solutions (29.4%) and the two-room apartment, which stands at 23.2%. Compared to the previous year, an interesting variation has been recorded: sales of independent solutions have increased from 26.6% to 29.4%, while those of three-room apartments have undergone a slight decline, going from 34.1% to 31.8%.

Buyer Profile

In the first half of 2024, the profile of vacation home buyers continues to reflect a consolidated trend. In particular, the average age of buyers is gradually increasing, with a significant concentration in the 45-64 age group. The 45-54 age group represents 27.8% of buyers, while the 55-64 age group rises to 29.5%. This is a sharp increase compared to the same period of the previous year, when the percentages were 26.5% and 26.1%, respectively. There is also a decrease in the participation of younger buyers, i.e. those under 34, whose percentage has gone from 6.7% to 6.3%. This phenomenon could be linked to the greater purchasing power of older age groups, who can benefit from the economic stability accumulated during their working years, as well as a growing interest in real estate investments.

Buying a vacation home with a mortgage

From a financial standpoint, most vacation home buyers prefer not to resort to a mortgage, confirming a trend of financial solidity of buyers. In fact, in the first half of 2024, 86.6% of real estate transactions were concluded without the aid of a mortgage. This figure remains stable compared to the previous year, when the share was identical. Only 13.4% of sales involved the use of a mortgage, a figure that remains the lowest in recent years. This could be indicative of a market that attracts buyers with sufficient capital to finance the purchase without the need for debt.

Foreigners buying holiday homes

Another interesting fact concerns the origin of buyers. The percentage of foreigners who buy holiday homes in Italy is increasing, reaching 15.6% in the first half of 2024, compared to 12% in previous years. Buyers come from countries such as Germany, Austria, France, the United Kingdom, the United States and Eastern Europe, attracted not only by the beauty of our landscapes, but also by the more affordable prices compared to the tourist destinations of their countries of origin. These buyers do not only focus on the most renowned destinations, such as cities of art or seaside resorts, but also explore more secluded and quiet areas, often inland, in search of more serene and less touristy atmospheres.

Mountain holiday homes

Another focus is on the mountain holiday home market. In the first six months of 2024, approximately 54% of sales in mountain resorts involved holiday homes. The most requested type is the two-room apartment, which represents 39.1% of sales, followed by the three-room apartment with 34.8%. Independent and semi-detached solutions, which offer greater privacy and independence, are chosen in 17.4% of cases. Compared to the previous year, there was an increase in the purchase of two-room apartments (from 35.0% to 39.1%) and a slight decrease in demand for three-room apartments (from 40% to 34.8%). This could reflect a change in buyers’ needs, with a preference for smaller, more easily manageable and less expensive solutions.

In the mountains, the typical buyer is confirmed in the age group between 45 and 54, which represents 41.5% of buyers, confirming the interest of a mature public for second homes in quiet areas surrounded by nature. Families are confirmed as the main target, representing almost 88% of sales. This figure is substantially unchanged compared to the previous year, demonstrating how a holiday home in the mountains is considered an ideal place for free time and family holidays. The percentage of singles who buy in the mountains remains rather low, settling at 12%.

As for the payment method, even in the mountains, most sales are made without a mortgage. In the first half of 2024, 90.2% of purchases of holiday homes in the mountains were made without financing. This figure marks an increase compared to the 5.9% recorded in the first half of 2023, but is still limited. The increase in the use of mortgages could be an indication of a slight recovery in the use of credit, in line with general economic dynamics.

Finally, foreign buyers who choose the mountains represent just under 10% of the total, with a slight increase compared to previous years. This data reflects the growing interest of those who, coming from abroad, are looking for a second home in Italian mountain resorts, attracted by the beauty of our mountains and the possibility of enjoying a unique climate and landscape, far from the frenzy of the most popular tourist destinations.

from idealista.it