Italy real estate is experiencing a significant transformation in Sanremo, where soaring rents and house prices are attracting a wave of foreign investors, particularly from the United States and France.
In the picturesque coastal town of Sanremo, Italy, the real estate market is experiencing a remarkable surge, with both rents and property prices ascending to unprecedented heights. This vibrant locale, renowned for its temperate climate and stunning vistas, has become a magnet for foreign investors, particularly from the United States, France, and Germany. The allure of Sanremo is further amplified by the impending 75th anniversary of the illustrious Sanremo Festival, which has spurred a flurry of activity in the hospitality sector, with accommodations booked well in advance to cater to the influx of visitors.
The demand for real estate in Sanremo is predominantly focused on properties that boast breathtaking sea views, expansive outdoor spaces, and impeccable condition or recent renovations. Such coveted properties command prices that can soar to an astonishing €5,000 per square meter. In the more central districts, the average price oscillates between €3,000 and €4,000 per square meter, while peripheral areas offer a more palatable average of below €2,000 per square meter. Notably, new residential complexes are emerging in the hilly regions, with prices ranging from €4,000 to €5,000 per square meter, further illustrating the dynamic nature of this market.
The hotel sector is equally tumultuous, with significant transactions reshaping the landscape of Sanremo’s accommodations. Following the acquisition of the Astoria Hotel, the Londra Hotel has also piqued the interest of investors, paving the way for new tourist accommodations and residential apartments. This trend underscores the city’s growing reputation as a tourist destination. In a noteworthy development, the five-star Hotel Europa Palace has recently reopened its doors after a comprehensive renovation, while plans are underway for the redevelopment of the Hotel Eden. Additionally, a new luxury five-star hotel is set to rise in Portosole, replacing an outdated structure, further enhancing the city’s appeal.
As the Sanremo Festival approaches, the demand for rental properties has surged. According to recent surveys by Immobiliare.it, the average rent for residential properties in January 2025 has reached €12.99 per square meter per month, marking a 5.27% increase from the previous year. The Centro area, home to the iconic Ariston Theater, commands the highest rental prices at €14.47 per square meter, while the Poggio and Bussana areas offer more affordable options, averaging €10.22 per square meter. For those looking to purchase, the most expensive properties are found in San Martino, Villetta, and Tre Ponti, with prices averaging €3,801 per square meter, whereas Verezzo and surrounding areas present a more budget-friendly average of €2,086 per square meter.
Sanremo’s real estate market is not merely thriving; it is flourishing, driven by a confluence of foreign investment, a burgeoning tourism sector, and an insatiable demand for prime properties. As the city prepares to celebrate its cultural heritage through the Sanremo Festival, it simultaneously positions itself as a beacon for real estate opportunities, enticing both investors and residents alike.
