Rich Americans and Britons rush to buy cheap second homes in Italy

Business Day. Alice Kantor. October 21, 2021

Homes in Italian cities and the countryside have always held an allure for foreign buyers. Now the pandemic is supercharging demand from well-off Americans and Britons.

That’s because a range of tax incentives, relatively lower prices and the potential for working remotely has kindled their desire to buy second homes in Italy.

“There’s been a dramatic change in demand,” said Knight Frank agent Bill Thomson, of the real-estate market in Italy. His group recorded the highest increase in interest from Britons and Americans in recent times. “As a business, we’ll have the best year we’ve had in the past 10 years,” he said.

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