Real Estate & Editors' Choice News in Italy from Propertyshowrooms.com

"Buyers' market" for Italian property

Mon, 7 May 2012 00:00:00 GMT

The strength of sterling and reduced property prices in Italy have combined to create favourable conditions for Brits buying real estate in the country.

This is the assertion of Linda Travella, head of local estate agency Casa Travella, who highlighted Tuscany as a particularly attractive region for investors to consider.

"A vast selection of properties and a strong pound means it is a buyers' market. The Tuscan real estate market has always been international and there is still interest from around the world," she stated.

Ms Travella added her firm has experienced an increase in the number of people searching for Italian property online over the past year.

Real estate investor and founder of Your Property Club Brett Alegre-Wood recently advised any potential buyers not to agree to a purchase until they have viewed the house in question.

He said it is very easy to get caught up in the emotion of a deal - particularly at property fairs - and urged investors to book a plane ticket and visit the area before making a final decision about buying a home there.

Venice: a new target for property investment?

Fri, 17 Feb 2012 00:00:00 GMT

At a time when many buyers are seeking quality real estate assets, Venice is emerging as a sought-after destination.

Speaking to The Telegraph, Clare Hazle, of Knight Frank's international desk, explained British purchasers are only looking for homes "in tried and tested places they know and love".

While Venice is one of the most expensive places to buy property in Italy, Ms Hazle pointed out assets tend to hold their value well as "there is a shortage of new and newly-restored property".

However, real estate expert Paul Hudson warned potential buyers to be wary of choosing to renovate a house or apartment themselves, due to the high costs of transporting materials and strict regulations designed to preserve the city's historic buildings.

The most recent Knight Frank Global House Price Index revealed the value of properties in Italy fell by 0.4 per cent between the second and third quarters of 2011.

According to the organisation, this slower rate of decline may indicate that the country's residential real estate sector is "over the worst".

Buyers 'should take advantage of cheaper Italian property'

Thu, 9 Feb 2012 00:00:00 GMT

Many sellers in Italy have reduced the asking price of their properties in recent months, prompting one local real estate expert to urge buyers to take advantage of the situation.

Linda Travella, of Casa Travella, explained Italian vendors were slower to cut the amount they were asking for their homes than other Europeans.

However, she noted they have recently realised doing so is encouraging investors to look elsewhere for their next purchase and many have therefore started to offer Italian properties for sale at "below market value".

Ms Travella added the strength of sterling against the euro means buyers from the UK can also benefit from the exchange rate.

Buyers may want to bear in mind the reintroduction of a property tax on first homes, announced by the Italian government in December last year.

New prime minister Mario Monti set out his plans to bring back the levy, which was abolished under previous leader Silvio Berlusconi, among other austerity measures aimed at getting Italy's budget deficit under control.

Italian property market is stable and still popular

Mon, 15 Mar 2010 00:00:00 GMT

Individuals looking to invest in a stable property market should head to the Italian coast to enjoy rural living, it has been claimed.

According to a report by Country Life, two areas that have remained resilient during the global economic crisis are the region of Tuscany and the Alpine Lakes.

Jelena Cvjetkovic of Savills confirmed to the publication that the cost of property in the country had held firm in comparison to its European neighbours, which have faced severe financial difficulties.

She continued: "In the main coastal and mountain areas, the drop in transactions was moderate and prices fell by only five to ten per cent on average compared to 2008, confirming the passion for holidays in Italy and quality of lifestyle."

The report highlights that the Tuscan countryside offers a particularly attractive option for individuals looking to buy property, combining cultural and historical appeal with reasonable prices.

Investors in the region will be bolstered by news that Italy is the fourth most lucrative country in the world for tourism.

Italy moves up searches ladder

Thu, 7 Jan 2010 00:00:00 GMT

Italy has become a more favoured destination for those seeking overseas property, it has been revealed.

Property portal Pimelocation.com released details of its most popular locations for searches, either by country or by specific home, which indicated that Italy had improved in the final month of 2009.

It was the sixth most sought-after destination, up from ninth in November.

At the same time, the US was unchanged in first place and Spain remained in second.

Turkey, Portugal, France and Cyprus were all in the top ten as well.

The portal described Italy as a "rapid climber" in the table last month.

Writing for Country Life recently, overseas real estate expert Paul Hudson noted that top-end residences in the country rose in value by between nine and 27 per cent in the period from 2004 and 2009.

At the same time, they only dropped by amounts ranging from 0.85 per cent to 1.25 per cent last year, he added.

Italian properties 'available at discount prices'

Tue, 17 Nov 2009 00:00:00 GMT

Those looking for a winter holiday home could find many bargains in Italy if they look in the right place, it has been noted.

In a feature on where to find cheaper properties, the Times notes that the country has prospects outside of its traditional tourist areas that might be of interest to buyers, with prices up to 20 per cent down on their 2007 peak.

Barbara Wood, director of The Property Finders estate agency, told the paper: "You won't get an estate in Tuscany for less than £250,000, but you could find a nice flat in Bergamo, northern Italy, easily accessible on Ryanair."

The news provider added that there are ways of getting an affordable home in Tuscany, noting that one property on the market is a one-bedroom flat in Roccalbegna with views of the island of Giglio and access to a swimming pool.

Italian property buyers may find now a good time to invest in the hope that prices rise soon as the country's economy recovers.

Official European Union economic statistics released last week showed that the country came out of recession in the third quarter.