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Well-to-do Florentines traditionally bought vacation homes in Castiglioncello, Mr. Fargion said, but in recent years foreign buyers, many of them Russian, have dominated the market.
Mr. Coughlin, a professional drag racer from Delaware, Ohio, and his wife, Julie, are among the many who in recent years have bought vacation homes at spa resorts.
The latest report from Spain's property registry says the number of Europeans who bought vacation homes in Spain in 2011 jumped 12.3 percent from the previous year, although it does not list the number of sales or list sales by province.
According to the Realtors' group, of the owners who have bought vacation homes since 2003, 23percentt used the proceeds from other real estate sales to finance their purchases, and 19percentt used equity or sales proceeds from their primary residences.
Russell had initially supported her maternal ideal, though, as the years went by and their peers bought vacation homes in the Hamptons, he couldn't consistently disguise his resentment over their straitened finances, or his sense that his stay-at-home wife had become translucent, if not invisible, within the walls of their loft-a nanny without salary.
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Now their land is more valuable: wealthy Russians have begun buying vacation homes here.
Americans have been buying vacation properties in Canada since the days of the Roosevelts and Campobello Island.
Switzerland's rules for foreigners wishing to buy vacation homes have always been stringent, with limits on the number of sales by canton.
While Switzerland's permit process for foreigners wishing to buy vacation homes is notoriously stringent, it is a simple process for foreigners who hold work permits.
They first flocked to spend holidays on the beach and then to buy vacation condos, sometimes more than one and mostly for cash.
"So many people buy vacation homes — and then retire to them — in areas that they like but where they have no ties and no friends," he said.
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