Germans Splurge on Italian Homes Locals Can’t Afford

Germans Splurge on Italian Homes Locals Can’t Afford

Alessia Pierdomenico/Bloomberg

St. Peter's basilica stands on the horizon beyond blocks of residential buildings in Rome. Second-home sales to buyers from abroad rose 14 percent last year, with non-Italians spending 2.1 billion euros ($2.8 billion), according to research institute Scenari Immobiliari.