- Homebuyers now competing with investors on Sardiniaâ€™s coasts
- Sardiniaâ€™s exclusive coastal areas seeing higher prices and demand due to pandemic
Northern Sardinia Coastal Areas Seeing Uptick in Demand & Prices
Just behind Italyâ€™s Sicily in size, the island of Sardinia (100 miles off the western coast of mainland Italy with 1.6M residents) and its exclusive northern coastal areas seem to be on both homebuyersâ€™ and investorsâ€™ wish lists.
With such increased demand, prices, competition and the pace of sales are running hot.
Pandemic â€œStrengthenedâ€ the People
Diletta Giogolo, head of sales for Italy Sothebyâ€™s International Realty,Â said,â€â€¦the pandemic has strengthened, in most people, the concrete desire to take refuge in a healthy and quiet place where they can feel safe and free at the same time.â€
As COVID ravaged mainland Italy, this long-standing magnet for investors actually became even more appealing to more people, according to Daniela Ciboddo, the license partner forÂ Engel & VolkersÂ office in Porto Cervo.
Prices Increased +12% Amid Pandemic
In a report by the Costa Smeralda ConsortiumÂ based upon 2020 real estate values, maximum values along Sardiniaâ€™s Costa Smeralda rose some +12% during the pandemic to $1,630/square foot.
Even prices of less expensive homes (no hard data available) increased due to Sardinia’s â€œunspoiled nature and sea, exclusive and quiet spacesâ€¦a haven for post-COVID tourism.â€
Porto Cervoâ€™s higher prices (from $6M up to $60.5M) may put homebuyers and investors off.Â If thatâ€™s the case, check out Sardiniaâ€™s Porto Rafael for â€œmore affordableâ€ prices.
Thanks to The New York Times International Edition.
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