American appetite for Italian property wanes as new buyers emerge

Enquiries from the United States have fallen by 21.6%, accounting for the overall 5.89% decline in interest in Italian properties during 2025. Germany has also lost momentum, down 13.6%. Yet the picture is more nuanced: over five years, demand has grown by 65.19%. The market is not contracting—it is being reconfigured.

Traditional buyer nations are being supplanted by emerging markets. British interest has surged by 23.23%, securing second place behind the United States. Spain, Greece, Czechia, Romania, Brazil, Argentina, India and Mexico are showing explosive growth. Even tourists visiting Italy are increasingly deciding to purchase property there, with enquiries up 18.58%.

Crucially, foreign buyers are no longer fixated on Florence and Milan. Instead, they are seeking smaller towns away from the crowds. The demand peaks are in the provinces of Vercelli (+85%), Novara (+61.74%) and Biella (+63.08%). Ostuni in Apulia remains a star, but it is now joined by Scalea, Noto and Caltagirone. Buyers are prioritising authenticity and quality of life over brand names.

The average enquiry price has risen to €428,600, yet a paradox emerges: demand for budget properties (under €100,000) is growing, whilst interest in expensive properties (€250,000–€1 million) is declining. This is not speculation—it is relocation and lifestyle investment.

Source: Gate-Away Italy