Real estate is an always growing industry in Sicily. With its fascinating landscapes, a perfect weather and a rich history and culture, this island is ideal not only as a holiday destination but also as a place to live in – even if just for some months a year.
Housing
Over the last two years, both renting and buying and selling of real estate had a positive growth rate, with only a slight price decrease.
According to the latest OMI report (Real Estate Market Observatory), in 2019 the total number of transactions was 37.764, with a +2,3% increase in comparison to the previous year.
The table below shows the number of transactions in every province of Sicily.
| Province | Transactions 2019 | Percentage change Transactions 2018/2019 | Percentage share |
|---|---|---|---|
| Agrigento | 2.905 | -0,9% | 7,7% |
| Caltanissetta | 1.914 | -0,1% | 5,1% |
| Catania | 8.580 | 2,5% | 22,7% |
| Enna | 968 | -2,1% | 2,6% |
| Messina | 4.609 | -0,5% | 12,2% |
| Palermo | 9.870 | 3,8% | 26,1% |
| Ragusa | 2.600 | 9,6% | 6,9% |
| Siracusa | 3.422 | 3,4% | 9,1% |
| Trapani | 2.897 | -0,2% | 7,7% |
| SICILY | 37.764 | 2,3% | 100,0% |
The major part of properties purchased was located in the metropolitan areas of Palermo and Catania, while the province of Enna (in the hinterland) had the lowest number of transactions. Hence, the most sought-after areas are coastal and urban.
The median size of purchased properties was 107,8 m2, but more than 145 m2 in major cities. So, people prefer comfortable and large houses – for the whealthy, even with pools.
Commercial and industrial real estate
Non-residential – that means, commercial and indutrial – real estate market has also been growing in Sicily over the last years.
The number of total buying and selling of retail, offices and industrial real estate in 2019 amounted to 2.863 units.
Investing in real estate properties in Sicily is a great idea for anyone wanting to improve their quality of life. Sicily has not only the sea to offer: it’s a beautiful island with a great artistic, landscape, cultural and human heritage.