Profitable Portofino

Portofino on the Italian Riviera is a highly sought-after travel and investment destination for national and international clients. “Thanks to its convenient accessibility by plane and car from all over Europe, we are seeing a rise in the number of clients from abroad. They are buying either a second home or an investment property along Italy’s northwest coast,” says Alberto Linari, Office Manager at Engel & Völkers Santa Margherita- Portofino.

Up to 15 million euros for villas

The stretches of coastline around Portofino are among the most beautiful areas in the entire Liguria region. The impressive scenery and picturesque fishing villages draw foreign clients in particular from Northern Europe. International buyers hail from Germany, the UK, Holland, Belgium and Switzerland. Freehold luxury apartments in Portofino reached peak prices of up to 14,000 euros per square metre in 2018, while villas sold for as much as 15 million euros. Buyers tend to favour detached properties with two bedrooms, two bathrooms, a garden and sea views.

Outlook: rising demand expected

According to Engel & Völkers, interest in real estate in Liguria is on the increase. The most popular locations are Portofino and Santa Margherita Ligure, followed by Camogli, Zoagli, Rapallo and Recco. “We are currently witnessing very high demand for property in high season, especially from international clients. Once the summer is over, prices will remain stable at a high level,” says Alberto Linari.