House Hunting in Sardinia

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Key Highlights

  • Homebuyers now competing with investors on Sardinia’s coasts
  • Sardinia’s exclusive coastal areas seeing higher prices and demand due to pandemic

Northern Sardinia Coastal Areas Seeing Uptick in Demand & Prices

Just behind Italy’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 homebuyers’ and investors’ wish lists.

With such increased demand, prices, competition and the pace of sales are running hot.

Pandemic “Strengthened” the People

Diletta Giogolo, head of sales for Italy Sotheby’s International Realty, said,”…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.”

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 for Engel & Volkers office in Porto Cervo.

Prices Increased +12% Amid Pandemic

In a report by the Costa Smeralda Consortium based upon 2020 real estate values, maximum values along Sardinia’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 “unspoiled nature and sea, exclusive and quiet spaces…a haven for post-COVID tourism.”

Porto Cervo’s higher prices (from $6M up to $60.5M) may put homebuyers and investors off.  If that’s the case, check out Sardinia’s Porto Rafael for “more affordable” prices.

 

Thanks to The New York Times International Edition.

 

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