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Italy tipped to attract investors

Article Date : Thursday, March 27, 2008       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Property in Italy could be set to see a renewed surge of interest from foreign buyers, experts have suggested.

Although the market has remained consistently popular over the years, ShelterOffshore.com believes that has recently been "flagging" as a result of high purchase costs.

According to the website, charges have been as much as a fifth of the asking price at times, making the overall cost of buying an Italian property too much for many prospective investors.

However, the government has now slashed these costs to a more reasonable level, making some properties up to 13 per cent cheaper as a result.

ShelterOffshore.com said this could potentially revitalise the Italian market and lead to more people considering buying property in the country.

The website commented: "This is fabulous news - a massive and significant boost has been handed to Italy’s real estate market."

Italy's appeal to foreign property buyers was recently highlighted by NuWire Investor, which said demand for accommodation in popular tourist spots makes it a particularly good investment.
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