La Pigna, Coldirodi, Poggio: three identities, three markets
by Luigi Ragone
Sanremo is not a uniform market.
And if there is one part of the city where this is most evident, it is precisely in its historic areas.
La Pigna, Coldirodi and Poggio represent three completely different interpretations of the same concept: historical identity does not automatically translate into real estate value.
La Pigna: historical value that is no longer enough
Founded around the year 1000, La Pigna developed as a defensive structure, with a compact urban layout designed to resist Saracen incursions.
It is, without doubt, one of the most authentic historic centers in Liguria.
But the real estate market operates under different rules than history.
The numbers
- Average values: around €1,400 – €1,900/sqm
- Among the most affordable microzones in the city
- Recent trend: declining
Economic interpretation
La Pigna is affected by three structural factors:
- limited accessibility
- functional constraints (stairs, internal layouts, parking)
- higher perceived risk by the average buyer
The key point:
historical identity does not automatically translate into real estate liquidity
Urban transformation is required. Without it, value remains compressed.
Coldirodi: local identity, undervalued market
Located on the hill between Sanremo and Ospedaletti, Coldirodi is a medieval village with a strong agricultural and landscape identity.
The numbers
- Average price: around €3,400/sqm
- In line with the city average
- Wide range: €2,600 – €4,400/sqm
Economic interpretation
Coldirodi is an interesting case:
- not prime
- not in decline
- not fully liquid
It is a hybrid market.
It performs well when it attracts:
- residential buyers
- international buyers seeking authenticity
- demand for views, tranquility and space
But it struggles with:
- purely financial investors
- standardized buyers
Translation:
fair value, but not yet fully expressed
Poggio: stability without acceleration
Poggio is a historic hamlet with a strong residential and agricultural character, part of the Sanremo hillside system.
The numbers
- Average values: around €1,700/sqm
- Trend: stable
Economic interpretation
Poggio represents a typical case of:
a market outside polarization
It does not grow, but it does not decline either.
Why?
- predominantly local demand
- low speculative pressure
- limited exposure to external flows
It is a “lateral” market:
- low risk
- limited growth
Three districts, three market logics
| Area | Positioning | Trend | Weaknesses | Opportunities |
|---|---|---|---|---|
| La Pigna | Pure historic | Declining | Accessibility, perception | Regeneration |
| Coldirodi | Residential hybrid | Variable | Liquidity | Selective revaluation |
| Poggio | Stable residential | Flat | Limited demand | Stability |
The strategic takeaway
These three areas highlight a fundamental point:
there is no longer a single “Sanremo market”
there are deeply different micro-markets
And above all:
value today depends on usability, not on history
Outlook
- La Pigna: high potential, but only with structural intervention
- Coldirodi: possible selective revaluation
- Poggio: stability, unlikely acceleration
Buying in these areas does not mean making the same investment.
It means choosing between:
- value to transform (La Pigna)
- value to interpret (Coldirodi)
- value to preserve (Poggio)
And in today’s market, that difference is everything.