Italy prices 'falling in cities'

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.

Like this? Then share with your friends and colleagues!