Italian market "riding high"

Article Date : 13 July 2007

Rich heritage and culture is at the heart of the real estate boom in Italy, according to a property expert.

Eddy Crompton, Director of RealPoint Property, says that a number of regions that have been passed over in recent years are experiencing increased interest from property developers.

And the low cost of new developments will attract people into areas such as Mare Luna and Pollina Cefalu, he predicted.

"Sicily is one region that has perhaps been overlooked in recent years, but now it is coming to the fore and interest in this island, that is host to medieval villages boasting a wealth of heritage and culture, is starting to increase," Mr Crompton told Homes Worldwide.

"The cost of living here is very competitive when compared to similar islands such as Crete."

A strong rental market and excellent potential for capital growth is also likely to attract investors looking to profit from the tourist ecomony, he added.

Data from the Association of International Property Professionalsin 2006 revealed that Italy was the fifth most popular destination for UK buyers.

Italian market "riding high"

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