Costa Smeralda: Top 10 in the World. And Italian Finance Still Doesn't Know It.
There is a ranking that caught my attention this week. The Reputation Index — developed by Cogit AI for Forbes Global Properties — analyzed the global positioning of luxury real estate through perception, desirability and international relevance.
Costa Smeralda is in the global Top 10. The only Italian market in the ranking. Ahead of Singapore. Ahead of Aspen. Ahead of Saint-Tropez.
This is not a surprise for someone like me, who has been operating in Sardinia for years and watches every season as German, Scandinavian and American buyers acquire premium coastal assets. Cash. No hesitation. Without asking permission from any Italian banking system.
Because they already know that data. They feel it. They live it.
The problem is that financial Italy doesn't know it yet — or worse, doesn't want to know.
I started operating in Sardinia when the international market was already looking at the island with structural interest. I watched projects emerge in territories that local banks considered "too peripheral", "too risky", "too far from institutional circuits." I watched those same assets appreciate year after year, while Italian capital stood still on the sidelines.
Dubai 9.3. Miami 9.05. Monaco 8.95. New York 8.85. London 8.78. Hong Kong 8.72.
Costa Smeralda 8.69.
Among the most desirable markets in the world for luxury real estate. This is not an opinion. It is a global index.
And yet Italian banks continue to treat Sardinia as a second-tier market. Italian institutional funds rarely set foot there. Credit arrives with a dropper, when it arrives at all.
Meanwhile, the world buys.
The question I ask myself — and that I ask anyone operating in this sector — is simple: how long can Italy afford to ignore a market that the rest of the world already considers among the best on the planet?
Luxury real estate is not just an asset. It is an experience, a destination, a global positioning. Costa Smeralda has been exactly that for decades. The numbers confirm it.
It is time for the Italian financial system to wake up.
For more insights:
👉 https://enricoarras.com
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