Italian property market 'holding firm'

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.