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Sicily: where to invest, from Catania to Ragusa

05 February, Milano Finanza

When it comes to luxury properties, the chronic standstill that affects Sicily seems to not apply. In fact, if the medium-low price range of the residential segment is still struggling, prime touristic properties are reporting one of the best performances in Italy. The picture is confirmed by Alberto Cogliati, the commercial director of Engel & Völkers Italia. “Our group is the international leader in the luxury sector, and we closed 2017 with a turnover of 26.1 million euro, 47.2% more compared to 2016, when we reported 17.7 million. In this market, Italy is one of the fastest growing markets, especially Sicily”.

Obviously, the natural heterogeneity of the region leads to different results. “Starting from Catania” explains Cogliati, “Scogliera in one of the most sought-after areas, as well as Fiera. In Cefalù, the old town is the favourite, same as in Taormina, where the town of Piedimonte Etneo registers a strong growth, thanks to its proximity to Etna and the presence of wineries”. There is the tendency to direct the interest towards the areas of the hinterland, characterised by a strong food culture. Among the cities, “Palermo is driven by Mondello, and it’s requalifying its city centre, attracting the interest of foreigners”, continues Cogliati. “In Siracusa, Ortigia is the most requested, while Buccheri is growing, thanks to its good oil products. Avola, the Noto’s little sister, is also growing. Trapani stands out for its old town and for the area between Partanna and Castelvetrano, that will undergo further development works thanks to the low cost of land and the presence of properties to renovate. In the province of Ragusa, Scicli and Ibla are the favourite destinations, while Modica and Pozzallo are being revalued”.

Source: Milano Finanza

Translator: Cristina Ambrosi