Demand in the Sicilian residential real estate market continues to grow, mainly for luxury properties. Thanks to its rich cultural heritage, Mediterranean climate and unique scenery, the island is attracting a growing number of international buyers. "In addition to private residences, we see a growing trend in the use of second homes as an investment through the rent formula," says Christoph Feigenbutz, Country Manager of Engel & Völkers Italy. The most desirable areas are Taormina, Syracuse, Palermo Mondello and Cefalù. In Cefalù the properties, in particular villas, were sold for a maximum of 2 million euros. In the historic center of Ortigia, in Syracuse, prices can reach 6,000 euros per square meter. According to the forecasts of Engel & Völkers, prices will undergo further increases in the coming months due to high demand.
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