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Italy-many-year-old favorite of the rich and famous-pulling up a new wave of superfasts seeking to use their investors who thrive a real estate market and low tax regime.
Since many other countries are clamped on a heavy -duty, Italy raises a tendency; Its flat tax regime encouraged the Horde of great expenses attracted to the luxurious life and more and more lively business scene of Milan.
And despite the doubling of a one -time fee paid by high -legal income up to 200,000 euros (233,000 dollars) in 2024, it did little to humiliate the demand for La Dolce Vita.
“They work at the wealth level, which is still much higher than 200,000 a year,” said CNBC Matteo Pella, senior broker at Berkshire Hathaway Homeerservice.
“It’s like saying: Oh, you pay for your coffee now. Today it is two euros, tomorrow it will be four euros. You’re not going to give up your coffee.”
According to Henley & Partners, Italy has become the main place of resettlement for the wealthy in Europe, which is sold citizenship and residence schemes.
Although the figures of migration millionaires have caused several questionsAnd global wealth flows are known to be difficult to track, a number of loud figures have moved to Italy in recent months. These include the richest man of Egypt and co -owner of the Aston Villa NASSEF Sawiris Football Club and the deputy chairman Goldman Sachs, Richard Gnod.
Henley & Partners estimates that the total number of new high network arrivals in Italy can reach 3600, according to Henley & Partners.
Milan Millionaire -Bum
The Italian flat tax regime was introduced in 2017 as part of a broader jolt to the left of the Central Government to attract foreign investors, while calling for home -grown talents to return to the country after the eurozone debt crisis.
This, in turn, has caused a new wave of enterprises that seek to satisfy the flow of fresh wealth, especially in the financial and fashion centers of the country in Milan. Among them is the recently opened club of Wilde participants, and before, Casa Cipriani.
“We really thought it was a good time to go back to Italy,” said Anna Siprani, Director of Casa Cipriani Milano, CNBC reported about the opening of the 2022 group.
“Milan has developed for many years,” she said. “It used to be more famous for its industrial character, and of course fashion houses, while in the last few years it has become more attractive to the creators, for investors and for (a) an international crowd.”
Buyers go through the Galleria Vittorio Emanule trading gallery.
Drawing alliance Gets the image
Meanwhile, wealthy revenues in Italy led to the rise of real estate prices in some of the country’s most desirable places: from Tuscany and Italian Riviera to cities such as Rome, Venice and Florence. However, Milan and the region of the surrounding lakes acted as a favorite.
“We are on high prices today,” said Pell, which is in the office of Lake Kooma Bhhs.
“In five years we had an increase (with) two -digit interest. In the following years, we will probably look at a sustainable growth by 3% to 4% type here in the lake.”
Real estate prices in Milan have grown by 49% since the country’s equal taxation regime was introduced compared to 10.9% in other major cities in Italy, Tecnocas Group reports. Now Global Property Consultancy Knight Frank expects that the city’s main real estate market records another 3.5% price increase in 2025.
“We are talking about those who can afford it because prices do not necessarily come down to logic in the street market as investment,” said Pel.
“They like property with their gut. Then they are certainly a little mathematics, but they are ready to spend, and sometimes in order to provide only a look or the only one.”
Migration uhnw
Millionaires migrate to the editorial staff to new residences as more and more jurisdictions offer options for those who are willing to pay.
Over the last decade, the number of people who are moving abroad Write down the highs In 2024.
This trend looks to continue in 2025 and 2026, as the gap deepens between countries that seek to attract rich Uber and those who are clamped, trying to fight the perception of inequality.
View on Lake Kooma, the third largest Lake Italy, located in the northern region of Lombardy.
Anadolu | Gets the image
France discussed the extension of the wealth tax, while Switzerland weighs new changes to the inheritance tax.
Meanwhile the UK in April canceled its 200-year-old tax regime that is not taxFreeing wealthy foreigners living in Britain from paying tax in the UK for foreign profits and profits. This implies the outflow of London banks and financiers for other European capitals, such as Milan, after Brexit 2016 voting.
This has left other countries seeking to fill the gap.
“There are countries literally all over the world that come to us and say, ‘We want the millionaires and Billionaires. What can we do? How can we bring them to our country? “
While such citizenship and residence regimes are significantly different and can include rigid investment requirements, part of the Italy system is its simplicity. One -time payment offers foreign persons or citizens who have lived abroad for at least nine years, exempting from wider income taxes and assets up to 15 years.
Worsen wealth divides
The new surge in Italy’s arrival, however, raised questions about the impact on the broad economy.
Some warn about the deterioration of richness inequalities, with the general minimum tax tax over the country’s general deficit and most of the recently created wealth concentrated in certain areas.
Meanwhile, critics believe that attempts imitate the scheme Elsewhere, a tax base may lead to a racing to the bottom and erosion.
However, businesses say they hope that increasing activity and new job creation in finance and private capital to hospitality and services will eventually benefit throughout Milan and a wide country.
“You know that this is a kind of circle that continues to roll. You have all these people and you have all these hotels, and you have more and more people who then decided to come to the city because now they think more about it,” Cipriani of the Capriani Milano members said.
“If you have a lot of investment in the city, the economy creates more opportunities for work and for people.”
– Gaelle Legrand CNBC contributed to this report.
