Euro fall 'boosting Italy'

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.

Like this? Then share with your friends and colleagues!