ROME
Italy’s capital city continues to be a market to watch. The upward trend in prices that began in 2020 is accelerating, with the most significant growth in Rome’s luxury segment and in highly sought-after areas like the historic city center.
Rome has “once again become attractive to large real estate investors, not just foreigners,” according to Massimiliano Bulzoni, managing director of Christie’s International Real Estate affiliate Exclusive RE in Rome. This is partly due to Italy’s Flat Tax Regime for Foreign Workers, also known as the RND, a government program that provides a significant tax advantage for high-income earners relocating to Italy, offering predictability and potentially lower tax burdens compared to standard progressive tax rates. Additionally, Rome is set to host the next Catholic Jubilee – the “Jubilee of Hope” – in 2025, which is expected to attract more than 35 million visitors to the Italian capital. The city is spending nearly US$2 billion to update and enhance the urban landscape ahead of the festival, which will place Rome on the world stage. “As with the 2024 Summer Olympic Games in Paris, we can expect this event to capture the attention of international buyers and investors,” Bulzoni explains.
Looking ahead, the U.S. dollar is forecasted to gain further ground against the Euro in 2025, which could lead to even greater investment from luxury buyers outside Europe, according to Bulzoni.
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