INTERVIEW WITH CHRISTIAN WEISSENSTEINER, LICENSE PARTNER AT VON POLL REAL ESTATE BOLZANO .
Anyone travelling through Italy's northernmost province will find it hard to resist the unique charm of South Tyrol, where Mediterranean flair meets Alpine natural landscapes. The South Tyrolean capital of Bolzano is located in a sheltered valley surrounded by vineyards. The breathtaking mountain landscape in and around Bolzano offers ideal opportunities for active leisure pursuits, whatever the season. Christian Weissensteiner, license partner at VON POLL REAL ESTATE Bolzano, assists prospective buyers with property purchases in the region from two locations in Bolzano. The real estate expert is also active with VON POLL REAL ESTATE shops in Milan and Salò at Lake Garda. He provides insights into the market and highlights what international clients should be aware of at the moment.
Mr. Weissensteiner, how has the property market in your region developed recently? Are there any notable developments or changes compared to last year?
CHRISTIAN WEISSENSTEINER
The market in Bolzano and the surrounding area has slowed down noticeably, but prices remain high. The biggest difference compared to last year is certainly the reluctance on the part of buyers. Due to rising interest rates, families in particular often have to weigh up several times whether they can afford the purchase. As a result, transactions have also fallen by around 10 to 20 percent. The paradox, however, is that prices are hardly falling. In Bolzano, prospective buyers often still pay over 4,500 Euros per square metre for existing flats, and in some cases up to 8,000 Euros per square metre for new builds. Sellers are therefore sticking to their prices, while prospective buyers are no longer able to secure the necessary financing. As a result, properties are staying on the market longer – instead of a few weeks, it now often takes between four and six months to complete a sale.
What trends and forecasts do you see for the year 2026?
CHRISTIAN WEISSENSTEINER
We do not anticipate any easing in property prices in 2026; quite the contrary, in fact. As living space is scarce in South Tyrol and there is little new construction land available, property prices are likely to continue to rise slightly – we expect an increase of around three percent in the current year. From February 2026, new provincial subsidies will also come into effect, which should make property purchases a little more affordable for locals again. The rental market, on the other hand, remains tight: because many prospective buyers are currently postponing purchases and looking for rental properties instead, rents are skyrocketing. We therefore advise prospective buyers not to continue speculating on falling property prices in Bolzano and the surrounding area.
The market is therefore characterised by high value stability. Which regions stand out in particular?
CHRISTIAN WEISSENSTEINER
That's correct, there have been hardly any real price drops in South Tyrol so far – rather a stagnation in less sought-after, peripheral locations. The most stable regions with continued high potential for value appreciation clearly include the exclusive A locations. These include the centre of Bolzano and Gries, among others. Here, purchases are often paid for with equity capital, with interest rates playing a rather subordinate role. Demand remains high. Merano and Obermais have also always been sought-after, especially among affluent clients, and have proven to be extremely crisis-proof. Val Gardena, Badia and Siusi in the Dolomites are also extremely stable in terms of value. Thanks to the pull of tourism and strict limits on second homes, prices here remain at an absolute premium.
You just mentioned the topic of second homes. What makes Bolzano and the surrounding area so attractive to international buyers?
CHRISTIAN WEISSENSTEINER
One thing is clear: those who buy here are not looking for quick returns, but for security. South Tyrol is a safe haven. Rental yields of around three percent are significantly lower than in southern Italy or other European cities. What makes Bolzano and the surrounding area so attractive is its substance: as already mentioned, property prices are extremely stable and there is also a high degree of legal certainty – thanks in particular to the Austrian land registry system based on cadastral surveys. Added to this is the lifestyle: buyers here acquire a piece of quality of life that retains its value or even increases it.
Are there certain regions here that are particularly popular?
CHRISTIAN WEISSENSTEINER
In fact, international property searches can be divided into two categories – the ‘connoisseurs’ and the ‘active’ ones. The former are drawn to the Burggrafenamt region – especially Bolzano, Merano, Tirolo and Schenna. Prospective buyers are looking for Mediterranean flair with perfect infrastructure. The ‘active’ buyers, on the other hand, mostly want to move to the Dolomites, for example to Val Badia, Val Gardena or Alta Pusteria.
However, one thing is almost always important: a rural location is fine, but not without infrastructure. Good access to restaurants, ski lifts and shops is usually a must for international buyers. A secluded mountain hut with no access road is more of a niche product.
What exactly are international clients looking for? What type of property is the focus?
CHRISTIAN WEISSENSTEINER
At the top of the wish list are properties that convey that typical Alpine feeling but still offer modern comforts – in other words, chalets and high-end penthouses with lots of wood and natural stone. The condition is crucial: most international buyers prefer turnkey properties. This is because managing a construction site from afar is usually not desirable. Historic farms are also in high demand, but difficult to obtain due to strict laws for non-farmers.
Do buyers tend to purchase properties for their own use or for rental purposes?
CHRISTIAN WEISSENSTEINER
Clearly for personal use as a second home or holiday home. The motive behind buying property in the region is more about emotional returns – having your own retreat in the mountains. We rarely see pure investors who are only interested in rental income, as this is hardly profitable given the local purchase prices and the laws often severely restrict tourist rentals.
How do the laws on tourist rentals affect you? What should customers definitely bear in mind when buying property?
CHRISTIAN WEISSENSTEINER
One term that every international buyer should be familiar with here is ‘conventioning’. This means that many apartments are reserved for locals and therefore cannot be used as holiday homes or temporary residences. This is where the biggest mistakes are usually made when prospective buyers do not obtain sufficient information in advance. Non-residents must therefore search specifically for freely available apartments – and these are rare and correspondingly more expensive. Prospective buyers should also not underestimate the additional costs: the municipal property tax for second homes in South Tyrol is now very high, as the municipalities want to avoid vacancies. Furthermore, an Italian tax number – the ‘codice fiscale’ – is mandatory, as it is the only way to purchase property in South Tyrol.
Let's move on to the topic of financing: how easy or difficult is it for international customers to obtain financing in South Tyrol?
CHRISTIAN WEISSENSTEINER
It is feasible, but significantly more complicated than at home. South Tyrolean banks usually finance a maximum of 50 to 60 percent of the estimated property value for non-residents, which is often lower than the purchase price. Buyers must therefore contribute a high proportion of their own capital – at least half of the purchase price, including ancillary costs, which range between 10 percent and 15 percent, should be available. In addition, the bureaucracy involved is much more complex – from translations to obtaining a tax number. We often advise international customers in particular to take out a mortgage on a property in their home country, if possible, in order to obtain the necessary equity – this is usually much less complicated.
How exactly do you support international clients in purchasing property? How do they benefit from your network and experience?
CHRISTIAN WEISSENSTEINER
At VON POLL REAL ESTATE Bolzano, we offer our clients a unique service combined with in-depth expertise. I myself have been working as a real estate agent in South Tyrol since 1998 – I have known the market, the authorities and the pitfalls inside out for over 25 years. In 2019, we further professionalised our services with VON POLL REAL ESTATE and significantly expanded our customer base. For our customers, this means that they receive South Tyrolean reliability and local insider knowledge, coupled with the professionalism and network of one of the largest estate agency companies in Europe. We understand the mentality of our customers from the north and speak the language of the south. This provides security in a foreign market.
Finally, do you have an anecdote you would like to share with us?
CHRISTIAN WEISSENSTEINER
Even with decades of experience, you can still be surprised sometimes. We recently had a penthouse in the centre of Bolzano on the market. An American contacted us, came to view the property and 30 minutes later was sitting in our office – he wanted to sign immediately. We were extremely sceptical – in South Tyrol, such decisions often take several months. When he then said that the deposit would only be available in two weeks' time, when he was back in the US, it quickly seemed like a bluff. But we were wrong. The money arrived punctually two weeks later, and a month later we were sitting together at the notary's office. Despite the bureaucratic hurdles for US citizens buying property in South Tyrol, we successfully completed the transaction. It was probably the fastest sale of the year – sometimes the American ‘just do it’ mentality is refreshingly different compared to our Alpine slow pace.
Dear Mr. Weissensteiner, thank you very much for the interesting conversation.
Further information about the team around Christian Weissensteiner from VON POLL REAL ESTATE Bolzano as well as the current property offers on site, contact details and much more can be found at https://www.von-poll.com/en/real-estate-agent/bozen
