11 May

Super rich buying up Italy's mansions under new tax regime

‘You get the same sort of tax savings you get in Jersey but you get to live somewhere you actually want to live’Luxury Tuscan estate agent Ian Heath is developing a taste for private jets. “It’s not that unusual anymore,” Heath says of hitching a ride on a billionaire’s jet to the Italian Riviera last week to give the wealthy client a tour of some of the most luxurious and expensive homes.“These guys fly around the world in their jets and helicopters,” says Heath, a senior agent at Italian estate agency Lionard. “It makes sense to use them for viewings. The problem was we still had to drive from Genoa to Portofino.” In one day, they viewed half a dozen luxury villas dotted along the Ligurian coast and castles on the hills surrounding Florence. The cheapest one they saw was on the market for €10m (£8.4m). Continue reading…

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