60% of Italian real estate investments come from abroad

Context

In brief

• 60% of real estate investments in Italy come from abroad
• RINA Prime supports public and private operators in the real estate sector
• RINA Prime's European presence includes Germany, the UK, Poland, and Switzerland

Key facts

• What: Real estate investments in Italy
• When: Current data
• Where: Italy
• Who: Roberto Giovenco, COO of RINA Prime
• Amount: 60% of investments from abroad

The Italian real estate sector continues to be a safe haven for international investors, even in a turbulent geopolitical context. This is certified by Roberto Giovenco, Chief Operating Officer of RINA Prime, the real estate division of the multinational group RINA, interviewed by Claudio Brachino for the television magazine Italpress Economy.

"Today, it is estimated that approximately 60% of investments in Italian real estate come from abroad," emphasizes Giovenco. "This is a very important signal of the resilience of our country in the face of geopolitical situations that are shaking the international sector."

A figure that fits into a broader European context: in the Old Continent, explains the manager, about half of real estate investments come from outside, with the Mediterranean basin registering an increasing concentration of capital.

In this scenario, the ability to guarantee transparency, data quality, and risk control becomes a determining factor in attracting capital and supporting increasingly complex investment decisions.

RINA is a multinational group that provides a wide range of services in the energy, marine, infrastructure & mobility, certification, industry, and real estate sectors. RINA Prime represents its real estate component and supports public and private operators, investors, and institutions in the management, enhancement, and transformation of real estate assets throughout their entire life cycle.

RINA Prime's workforce

RINA Prime's workforce consists of approximately 350 professionals distributed throughout Italy and partly in Europe, to which is added a network of loyal external collaborators that nearly doubles the overall staff.

On the international front, RINA Prime has consolidated its presence in major European markets: Germany, the United Kingdom, Poland - "a country with strong growth, especially in terms of European and non-European investments" - and Switzerland. Recently, the group has taken a significant step towards the Iberian Peninsula with the acquisition of GLOVAL, a Spanish company that ranks third in the Iberian real estate valuation market.

"Our European presence is important and qualifying," explains Giovenco, "because today in Europe investments are once again concentrating from foreign players, in light of the international geopolitical situation." Real estate "is becoming a safe haven sector where interests are concentrated in stable contexts. Europe is one of the most stable contexts globally."

Operational details

The theme of Smart Cities has been at the center of the debate for years, but according to Giovenco, there is still no universally shared paradigm among operators. The manager looks to Barcelona as a reference laboratory: 'The public regulator creates an environment where demand and supply intersect. Those who have areas to redevelop get in touch with interested investors, within the framework of a master plan managed by the municipality. And if we go to Barcelona, we see the positive effect of this intersection'.

For Giovenco, the Smart City is not a slogan but a real industrial plan applied to cities: 'I would start with the consolidation of a database. Today, buildings, infrastructures, and services must be managed in an integrated way to meet the needs of citizens and investors'.

Implications for cross-border workers

The implications for cross-border workers who work in Italy and reside in Switzerland, particularly in the Canton of Ticino, are significant. The stability of the Italian real estate market and the growing attention towards Smart Cities can offer new investment and economic development opportunities. However, it is fundamental to also consider the tax and regulatory aspects, such as withholding tax and bilateral agreements between Italy and Switzerland.

Cross-border workers must be aware of the current regulations and any tax benefits they may be eligible for. For example, the Italo-Swiss Convention of March 9, 1976, and the New Cross-Border Workers Agreement signed on December 23, 2020, can significantly influence their tax situation.

Comparisons and scenarios

Comparing the current situation with the pre-pandemic one, several differences can be noted. Before the pandemic, real estate investments in Italy were less concentrated, and the presence of foreign capital was less significant. Today, however, the market is more dynamic and oriented towards sustainability and innovation.

For cross-border workers, this means there are more investment opportunities, but also greater complexity in managing their finances. It is therefore essential to have a clear and strategic vision, supported by industry professionals.

Procedures and tools

For cross-border workers who wish to invest in the Italian real estate market, it is important to follow some specific procedures. First of all, it is necessary to understand the tax regulations and bilateral agreements between Italy and Switzerland. Additionally, it is useful to avail oneself of specialized consulting services, such as those offered by RINA Prime, to ensure optimal management of investments.

Using tools such as the withholding tax calculator and the permit comparator can help make informed decisions and maximize tax benefits. Furthermore, it is fundamental to stay updated on the latest regulatory news and investment opportunities in the real estate sector.

Useful tools to protect your net income

To reduce FX leakage, compare CHF-EUR exchange options and banks for cross-border workers.

Key points

For cross-border workers who wish to invest in the Italian real estate market, it is essential to follow some specific procedures. First of all, it is necessary to understand the tax regulations and bilateral agreements between Italy and Switzerland. For example, the Italo-Swiss Convention of March 9, 1976, and the New Cross-Border Workers Agreement signed on December 23, 2020, can significantly influence the tax situation.

Step-by-step procedures

1. Evaluating investment opportunities: Identify areas of interest and investment opportunities in the Italian real estate market. Use tools like the permit comparator to evaluate the different options. 2. Tax advice: Take advantage of specialized consulting services to understand tax regulations and bilateral agreements. Use the withholding tax calculator to estimate tax costs. 3. Investment management: Use integrated services such as those offered by RINA Prime to ensure optimal management of investments. Constantly monitor performance and adapt the strategy based on market developments. 4. Regulatory updates: Stay up-to-date on the latest regulatory news and investment opportunities in the real estate sector. Use tools such as the withholding tax calculator and the permit comparator to maximize tax benefits.

Useful tools

• Withholding tax calculator: To estimate tax costs and maximize tax benefits.
• Permit comparator: To evaluate the different investment options and identify areas of interest.
• Specialized consulting services: To understand tax regulations and bilateral agreements between Italy and Switzerland.

Final CTA

To learn more about investment opportunities in the Italian real estate market and to use tools such as the withholding tax calculator and the permit comparator, visit our website and consult the guides dedicated to cross-border workers. Don't miss the opportunity to maximize your investments and benefit from the tax incentives available.

Source: varesenoi.it