Portofino, a destination that attracts many Belgian investors

Portofino, the jewel of the Genoa Riviera, is a destination that attracts many foreign investors, particularly Belgians.

With a slightly lower price per square metre (-4% compared to 2018), a fifth of buyers (20%) come from abroad, especially from Northern Europe. Belgian, Swiss and German investors predominate.

Portofino and the Italian Riviera (Ligurian Riviera or Genoa Riviera) have always been highly popular destinations, both for Italians and foreigners alike. But this is not the only reason why this region is a privileged area when it comes to real estate investments or the purchase of a second home. The access to the sea, breathtaking views, prestigious buildings with unique architectural features are just some of the region's qualities. Starting from Portofino, one of the most exclusive destinations in Italy, and continuing towards the Ligurian Levant, this region could only be ideal for setting up two Engel & Völkers estate agencies. The mild winter climate brings added value to this region (from Sori to Zoagli), which can therefore be the ideal destination for Italians for a weekend away from the great Milanese metropolis.

Portofino, with its rugged coastline and picturesque seaside villages, is one of the most beautiful stretches of the Ligurian Riviera, which attracts many foreign visitors. The international clientele, which represents no less than 20% of the total clientele, is mainly interested in buying a second home or a rental property. These international customers come mainly from Belgium, Switzerland and Germany.

The demand is clearly on the rise, thanks in particular to a 4% drop in prices compared to last year. Buying a property in the region is therefore an excellent opportunity, and the most popular type of building is the classic 2 bedrooms, 2 bathrooms, an outdoor area and a sea view.

The most popular places remain, respectively, Portofino and Santa Margherita Ligure, followed by Camogli, Zoagli, Rapallo and Recco. The proportion between supply and demand is variable: for example, for Santa Margherita, demand is much higher than supply. Similarly, estimates also vary according to the location chosen. In the highest areas, namely Portofino, Santa Margherita and Camogli, the price range is wide: from a minimum of 4,000 €/m2 for a house in Camogli to a maximum of 19,000 €/m2 for a villa in Portofino.

It is therefore no coincidence that Engel & Völkers has decided to consolidate its strong presence in Italy with 3 real estate agencies in Liguria, including one in Portofino.

Feel free to contact one of our agencies for more information on the different properties for sale along the Italian Riviera...