Real Estate & Economic News in Italy from Propertyshowrooms.com

Italy sees increase in search numbers

Mon, 30 May 2011 00:00:00 GMT

Italy has seen a marked increase in the number of searches for property in the past month, it has been revealed.

Leading real estate portal Rightmove has revealed that the destination is now the fifth most popular country in the world among individuals searching for homes.

Italian property started the year as the sixth most popular with 5.6 per cert of the total search volume, but searches have increased by over 50 per cent compared to previous months.

The news could encourage a number of potential overseas property owners to consider buying a home in Italy.

Meanwhile, an increase in tourist numbers in Italy last year is expected to have a knock-on effect on the country's property market.

Euromonitor International's Travel Industry Global Overview found that visitor numbers to the European destination reached 43.2 million in 2010 - up 2.2 per cent.

The organisation claimed that the combination of fine cuisine, spectacular natural scenery and friendly local hospitality has helped the country establish itself as a tourism hotspot.

Italian real estate facing slowdown in Q3

Tue, 21 Sep 2010 00:00:00 GMT

A slowdown in demand for residential property and an increasingly pessimistic attitude from real estate agents are likely to contribute to a crash in the Italian property market, it has been suggested.

In news which may interest those looking to buy real estate in Apulia, the Bank of Italy has warned that the third quarter of the year could be one of the most difficult, Bloomberg reports.

To this end, the bank revealed that the number of real estate agents who sold at least one residential property in the three months through June fell to 67 per cent - down from 70 per cent in the first quarter.

Indeed, the number of agents who now believe that the market is "unfavourable" has almost doubled to 30 per cent - up from 17 per cent in the previous quarter.

"The views on the short-term outlook of the national market are slightly worse than in the previous survey," the central bank said in its report this week.

Weakened euro could make Italy popular with investors

Mon, 14 Jun 2010 00:00:00 GMT

UK-based investors are likely to capitalise on the weak euro and look to purchase property in eurozone destinations, it has been suggested.

Foreign exchange specialist Moneycorp has claimed that sterling has been benefitting from various economic forecasts which predict that the UK recovery is under way.

"In contrast, the euro has continued to weaken," David Kerns, head of private clients at the company, explained.

"The increase in the sterling/euro exchange rate would have made properties within the eurozone an increasingly more attractive prospect for euro buyers."

News that real estate in the region is likely to be cheaper is sure to interest potential investors in Italy.

And as a result, there could be a rush of homes for sale in Campania, with the destination home to some popular tourist attractions.

According to Overseas Property Professional, real estate portal Rightmove's April index saw enquiries jump 20 per cent in Italy, compared to last year.

Italian property market 'holding firm'

Wed, 9 Dec 2009 00:00:00 GMT

Those looking for a property investment in a stable market can find it in Italy, it has been claimed.

Writing for Country Life, Paul Hudson noted that data for the value of top-end residences in the country for property agents' federation FIAIP showed an average price rise of between nine per cent and 27 per cent between 2004 and 2009.

At the same time, he added, the first half of 2009 only saw a drop of between 0.85 per cent and 1.25 per cent, after a decline of just 0.6 per cent in 2008.

Mr Hudson stated that this demonstrates the strength of the property investment market in the country and commented that the bottom of it has now passed.

Recent research suggesting Italian property is a solid bet included that of the foreign exchange team at investment firm Close Treasury.

It found that properties bought there in June 2005 would be worth 65 per cent more now, when the combined effects of price growth and the changing exchange rates are considered.

Euro fall 'boosting Italy'

Mon, 1 Jun 2009 00:00:00 GMT

The Italian property market is one of the beneficiaries of an improvement in the value of the pound against the euro, it has been stated.

A notable rise in interest in buying on the continent has been observed by foreign exchange brokers and mortgage agents recently, the Financial Times reports.

Commenting on the trend, director of dealing at foreign exchange firm Currencies Direct Mark O'Sullivan said: "We have seen a dramatic increase in the amount of money entering the international property market in the last few weeks."

This has come about because of the "confidence boost" sterling's rise has provided.

Many areas have also become more popular to buy in because prices have fallen by ten to 15 per cent, Nick Barnes of Knight Frank told the paper.

He identified Chianti - famous for the wine of that name - as one good location to invest in.

Property in Tuscan wine estates is being offered to buyers of Italian property, the Daily Mail noted earlier this month.

Offering the chance to get involved with the wine-making process, many of these are affordable deals, such as the GBP268,120 property highlighted to the paper by property agency Luca Santoro of House & Loft.

Italy prices 'falling in cities'

Tue, 21 Apr 2009 00:00:00 GMT

The Italian property market is seeing prices generally stabilising, but falling in the cities, a new report has stated.

Estate agents in the country have projected drops in values in the main centres of population on the peninsula, noted the Roman Forum.

These include the Tecnocasa and Gabetti forecast of annual price drops varying from one or two per cent for Milan to six per cent in Turin.

UBH went as far as to project declines of eight per cent in Rome and Milan, while Scenari Immobiliari identified a fall of 4.8 per cent in the main cities, in contrast with an overall national price rise of 1.6 per cent.

Such a trend may suggest that those looking for bargains in Italy should consider the larger cities.

In February this year Reuters reported that Italy's property market was expected to be more stable than those of its neighbours due to a smaller rise in unemployment in the recession.

European homeowners remain optimistic-220708

Tue, 22 Jul 2008 00:00:00 GMT

Homeowners across Europe have expressed confidence in the future performance of their domestic housing market.

According to a study by the Financial Times, people across the continent are largely hopeful that house prices will keep going up over the next five years.

This is despite the fact that many believe property values will either fall or remain on hold during the next 12 months.

Confidence was found to be especially high in Italy, as nearly two-thirds of respondents predicted a long-term increase in prices.

However, the positive outlook was not enough to prevent homeowners for calling for greater government assistance, either by subsidising mortgages or cutting property taxes.

Only 6% of respondents in Italy were against the idea of the government making these changes to the current system.

According to a survey by A Place in the Sun magazine, Italy is currently one of the top five locations for British property investors.

Visit our off-plan property Italy page

EU court rules against Alitalia

Wed, 9 Jul 2008 00:00:00 GMT

The EU's top court rejects an appeal by struggling Italian airline Alitalia against conditions for receiving state aid...

South Italy tipped to be the next investment success in Europe

Wed, 2 Jul 2008 00:00:00 GMT

Property in Italy is holding up in the credit crunch with experts predicting modest growth in many areas...

Investors not deterred by credit crunch

Mon, 7 Apr 2008 00:00:00 GMT

Consumers in the UK are continuing to show interest in buying property abroad, despite the ongoing economic problems across the world.

ShelterOffshore.com said the recent slowdown in the global economy has led to many people's finances being stretched.

However, it said that while consumers are spending frugally and saving less money, many are still keen to make a foreign investment.

According to the online portal, Britons have an "insatiable desire" to own a house in a sunny location.

The website commented: "Phrases like 'credit crunch' and 'global financial crisis' are having little effect on us resilient Brits."

This comes after property investors from the UK were advised to look buying overseas if they wish to collect good returns.

Homes Worldwide recommended that Britons avoid the domestic market as mortgage rates are rising while house prices are falling.

By contrast, many other countries offer good capital growth potential and relatively cheap property prices.

High house prices drive FTBs overseas

Wed, 26 Mar 2008 00:00:00 GMT

High house prices and economic problems in the UK are leading to many first-time buyers (FTBs) looking abroad, a study has found.

Fair Investment Company revealed that nearly one in ten FTBs have already bought their first property overseas, while 44 per cent of thinking of doing so.

The firm highlighted a number of reasons for people choosing to look away from home, such as the impact of the credit crunch on the British housing market.

However, issues including the availability of property in the UK and the effect this has had on prices were flagged up as other factors behind this trend.

James Caldwell, director of Fair Investment Company, commented: "Overseas they can sometimes find cheaper property prices and a lower cost of living."

He added that this could make a first home more affordable, while still enabling people to enjoy a high quality of life.

According to Paul Collins of the BuyAssociation website, high-growth markets are proving to be very popular with this group because house prices are increasing at a fast pace.

This means that people can buy property while it is still relatively cheap and sell it on at a later date for a much higher amount.

Italian economy 'good for investors'

Fri, 2 Nov 2007 00:00:00 GMT

The stability of the Italian economy is one of the main attractions of the market for overseas property investors, according to experts.

Foreign Property Buyer stated that the country offered numerous benefits over emerging rivals such as Bulgaria and Croatia, such as a stronger guarantee of a steady and reliable investment.

As well as having a stable economy, the country was said to have a good infrastructure, as well as cultural and historical attractions.

Furthermore, the website highlighted the efforts of the Italian government to prevent overdevelopment in highly sought-after areas.

This, it stated, made an investment in Italy much more sustainable and meant that area would stay a desirable and authentic environment.

Foreign Property Buyer commented: "All of this is good news for property investors as it means that the government is looking at the future of property development seriously."

Recently, real estate specialist Marco Rossi told the Daily Record said that the Calabria region was currently attracting an unprecedented level of interest from foreign buyers.

Milan seeing new development

Wed, 11 Jul 2007 00:00:00 GMT

New property developments are set for Milan, expected to provide a significant boost to the city and attract buyers to the region at large.

Under new plans for Italy's second largest city, residential and commercial property will be developed, offering infrastructure benefits to the local economy as well as new scope for businesses and individuals.

Foreign investors can expect new opportunities in Milan in the coming years, while increased property supply may also result in increased demand overall. Roberto Talotta, country manager at international property consultants EC Harris underlines the need to meet new demands.

"The challenge now is to provide residential property, high quality office space and infrastructure that the new economic circumstances demand," he explained to the International Herald Tribune.

Meanwhile the Association of International Property Professionals argues that rural Italy remains popular among UK property investors due to the appeal of traditional Italian living.

Calabria has been highlighted as a high-demand area in this respect.