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Investors buying into Italian lifestyle

Article Date : Thursday, July 26, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Foreign property investors in Italy are shifting their interest from the countryside to Italian towns, according to a property expert.

Rupert Fawcett, head of the Italian desk at Knight Frank, said that many investors are "cash-rich" but "time-poor" and so do not want to embark on the restoration of farm houses "that was once all the rage".

Now they are being attracted to the ease, accessibility and security on offer in Italian towns, he said.

Mr Fawcett explained that investors are buying into the Italian way of life when they purchase properties in the country.

"There is a trend slightly in Italy where people are moving away from the countryside to more manageable apartments in the towns and managed gated security estates, as opposed to a big sprawling farmhouse," he added.

Property is up for sale at particularly low prices in northern Tuscany, Homes in Italy said earlier this week.
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