H
igh-net-worth individuals worldwide have discovered a simplified tax code in Italy, which quietly introduced a flat tax in 2017. The super-rich have flocked to the country since then, turbocharging its real estate market. Unlike the U.S., U.K., and other major economic powers with progressive tax codes, Italy's system is straightforward: a capped tax bill of €200,000 ($231,679) plus €25,000 per family member, regardless of global earnings.

    This provision, along with the ability to seek clarity on tax issues before relocating, has made Italy an attractive destination. According to Forbes, 3,600 high-net-worth individuals have moved to the country since adopting its flat tax system, with a significant impact on real estate. Premium properties in Milan's best neighborhoods are selling for €15,000 per square meter, while newly built apartments fetch €7,250 per square meter.

    Southern Italy's regions, such as Campania, Sicily, and Puglia, have also become popular among well-heeled expats. Once settled, they find reasons to stay due to Italy's unique blend of scenic beauty, rich history, and world-renowned culinary heritage. Idyllic locations like Lake Como, the Amalfi Coast, and Tuscany's hill country have long been vacation destinations for the super-rich, making Italy an appealing choice for those seeking a simplified tax code and a luxurious lifestyle.