Real Estate & Property Investment News in Italy from Propertyshowrooms.com

Buyers 'should take advantage of cheaper Italian property'

Thu, 9 Feb 2012 00:00:00 GMT

Many sellers in Italy have reduced the asking price of their properties in recent months, prompting one local real estate expert to urge buyers to take advantage of the situation.

Linda Travella, of Casa Travella, explained Italian vendors were slower to cut the amount they were asking for their homes than other Europeans.

However, she noted they have recently realised doing so is encouraging investors to look elsewhere for their next purchase and many have therefore started to offer Italian properties for sale at "below market value".

Ms Travella added the strength of sterling against the euro means buyers from the UK can also benefit from the exchange rate.

Buyers may want to bear in mind the reintroduction of a property tax on first homes, announced by the Italian government in December last year.

New prime minister Mario Monti set out his plans to bring back the levy, which was abolished under previous leader Silvio Berlusconi, among other austerity measures aimed at getting Italy's budget deficit under control.

Italy property buyers 'need to be patient'

Thu, 5 Jan 2012 00:00:00 GMT

Investors seeking property in Italy should be patient when it comes to identifying the perfect residence to purchase.

This is according to Crown Relocations senior move manager Kimberley Millhouse, who said Italian properties are generally compact in size, depending on where they are situated.

"Apartments don't usually have many bedrooms and villas often have small gardens," she remarked, adding: "In addition, most apartments won't come with a car park, so it may be necessary to rent a space nearby."

Now may be a good time for buyers to invest in Italian real estate as prices remain stagnant.

Figures released by Nomisma last year showed house sales fell by 6.6 per cent in the 12 months to the second quarter of 2011, with values dropping by 0.6 per cent on a nominal basis in 13 large cities, Global Property Guide reported.

Nomisma said it expects property prices to continue to decrease in the near future.

Italian property market 'will remain buoyant into 2012'

Wed, 14 Dec 2011 00:00:00 GMT

The real estate market in Italy is expected to remain "buoyant" for the first half of 2012, one expert has claimed.

Linda Travella, who has been involved in the country's property sector for more than 20 years, predicted the high levels of interest experienced in the final three months of 2011 will carry over into next year.

"The last quarter of 2011 is the busiest it has been for four years, with a surprising amount of enquiries and sales of Italian property," she stated.

Ms Travella added interest is coming from a variety of sources, with buyers from the UK, Russia, Canada, Norway and Switzerland all keen to own a home in the nation.

She also revealed investors hoping to generate a reasonable return on their capital should keep a real estate asset for at least three years, although holding it for five years can be more beneficial when it comes to taxation.

Earlier in December, the Italian cabinet decided to reintroduce a property tax on first homes that was abolished by former prime minister Silvio Berlusconi. This may be something potential buyers want to bear in mind before committing to a purchase.

Italian cabinet votes to reintroduce property tax

Wed, 7 Dec 2011 00:00:00 GMT

A tax on first homes is to be reintroduced in Italy, it has been revealed.

Following talks over the weekend about how best to reduce the country's budget deficit, a package of austerity measures has been finalised.

Among them is to bring back a levy charged on first home purchases that was abolished by the previous government under Silvio Berlusconi.

New prime minister Mario Monti, who was sworn in on November 16th, will now take the proposals to the country's parliament and if approved, it is thought the steps will save €30 billion (£25.79 billion).

Last month, a letter sent by former economy minister Giulio Tremonti to European Union authorities suggested that abolishing the Italian property tax may have cost the country as much as €3.5 billion in lost revenue each year.

In November, president of Istat Enrico Giovannini told Reuters that, as so much of Italians' wealth is tied up in real estate, a permanent tax on such assets would help produce income for the government.

Could Italy reintroduce property tax?

Fri, 25 Nov 2011 00:00:00 GMT

Italy's new prime minister Mario Monti was sworn in last Wednesday (November 16th) and has proposed a number of measures to help tackle the country's public debt.

Among the suggestions is the reintroduction of a property tax that was abolished under former leader Silvio Berlusconi in 2008.

Former economy minister Giulio Tremonti estimated that cutting the real estate tax has cost the Italian government around €3.5 billion (£3.02 billion) in lost revenue over the past three years, in a letter he sent to European Union authorities before leaving office.

According to Reuters, Mr Giovanni pointed out that much of the country's wealth is tied up in Italy's property sector.

"How do you get this wealth to produce income and growth? The first hypothesis is a property tax, not a one-off tax, but a permanent one," he suggested in this letter.

Earlier this month, Global Property Guide published figures from think-tank Nomisma, which showed that the value of real estate in Italy fell by 0.7 per cent during the year to June 2011.

Italian property prices fall

Mon, 21 Nov 2011 00:00:00 GMT

Property prices in Italy slid by 0.7 per cent during the year to June 2011, figures from think-tank Nomisma show.

Citing the data in a report about the state of the country's real estate market, Global Property Guide noted that there is a mixed outlook for the sector.

The publication highlighted a Bank of Italy survey from October this year, which found that estate agents in the nation expected sales to increase over the coming months.

However, Nomisma predicted that the downturn in the Italian property market is not yet over, with further falls still to come.

According to the news provider, Italy is a nation of owner-occupiers, with 80 per cent of houses in the country falling into this category.

It also pointed out that restrictions on the rental industry make this unattractive to many property investors, with rental homes typically generating a yield of between three and five per cent.

Linda Travella, of estate agency Casa Travella based in the Italian lakes, recently stated that real estate around Lake Como and Lake Maggiore is becoming more popular among buyers.

Italian lakes 'prove popular with house buyers'

Wed, 16 Nov 2011 00:00:00 GMT

An increasing number of people are looking into the possibility of owning a property in Italy alongside either Lake Como or Lake Maggiore.

This is according to Linda Travella, from local estate agency Casa Travella, who has noticed enquiries about homes in these areas are rising.

"There is something relaxing and romantic about being close to water and that is why more and more clients are choosing to buy property in Italy on either Lake Como or Lake Maggiore," she stated.

In addition to the stunning landscapes, Ms Travella pointed out that their proximity to Milan and its airport is another reason for the popularity of these lakeside locations.

Furthermore, investors who purchase real estate in this part of Italy can be confident that prices will not fluctuate very much, she added, commenting that properties near the bodies of water are always in demand and values therefore remain stable.

Due to the sovereign debt crisis in the eurozone and continued fears over the extent of its impact on Italy's economy, this price consistency could make real estate in such locations all the more appealing to potential buyers.

Investors showing more interest in distressed Italian property

Thu, 25 Aug 2011 00:00:00 GMT

An increasing number of investors are looking to take advantage of the distressed property available in Italy and elsewhere in Europe, a new survey has shown.

The Royal Institution of Chartered Surveyors (Rics) Global Distressed Property Monitor revealed that demand for this kind of real estate increased in the nation during the second quarter of the year, compared to the previous three-month period.

According to the organisation, supply of such assets is still expected to exceed demand in Italy, where foreclosures are predicted to rise between July and September to reach a net balance of over 50 per cent.

Simon Rubinsohn, chief economist at Rics, commented: "The dramatic rise in investor appetite for distressed assets may be reflecting a measure of confidence in the outlook for the real estate sector despite the volatile economic context."

Earlier this month, director of Savills' international department Charles Weston Baker told The National that investors looking for property in Italy can expect to find assets are approximately 20 to 30 per cent cheaper than they were in 2007.

'Bargains can be found' in Italian property sector

Mon, 15 Aug 2011 00:00:00 GMT

Investors looking for a good deal on an Italian property should be able to find an asset at a reasonable price, it has been claimed.

Director of the international department at Savills Charles Weston Baker told the National buyers can now find houses in the country for 20 to 30 per cent less than their value in 2007.

He explained that stricter planning laws in Italy have resulted in less oversupply than in other Mediterranean nations, such as Spain, but that the weak market has still pulled prices lower.

Meanwhile, Harrison D'Onofrio, Italy sales manager for Hamptons, recommended that potential buyers look at regions such as Puglia and Calabria.

Significant investment has been put into improving the local airports in these parts of the country, he explained.

According to the Knight Frank Prime International Residential Index, several popular areas in Italy saw house prices fall throughout 2010.

The firm revealed that Cortina, Tuscany, Venice, Florence and Sardinia all saw property values drop by five per cent during 2010, with Rome being the only Italian destination to register an increase last year.

Indian buyers targeting Italian property market

Tue, 28 Jun 2011 00:00:00 GMT

Wealthy Indians are increasingly purchasing properties in Italy, it has been revealed.

Vice-president of credit risk management at Deutsche Bank Gulzar Malhotra told Business Standard that locations such as Sicily and Tuscany are proving popular among Indian investors.

He explained that the decline in property prices experienced across Europe is attracting more foreign buyers to the marketplace, with perennial favourites like Italy among the top locations for those seeking second homes or investment opportunities.

However, Indians are restricted in terms of what they can purchase because the Reserve Bank of India has capped the amount that can be spent on foreign property annually to $200,000 (£125,517) per person.

In May, DTZ published its Money into Property Europe 2011 report, which noted that transaction volumes across the continent increased by 64 per cent in 2010 compared with the previous year.

The organisation went on to predict this to rise by a further 20 per cent by the end of 2011.

New flights make Italy 'more accessible'

Tue, 7 Jun 2011 00:00:00 GMT

New flights to Lake Garda in Italy will make the region even more accessible for tourists and property hunters.

Low-cost carrier easyJet has announced that it will be running a new route to nearby Verona from London Gatwick.

The news has been welcomed by the Italian State Tourist Board, which has recommended that visitors to the country spend time taking in the sights that Lake Garda, the Dolomites and other historic towns such as Padua and Mantua offer.

Stefania Gatta, a spokeswoman from the Board, added that for those who want to explore the city of Verona itself there was still plenty to do.

"You can visit the Arena, a roman amphitheatre which hosts the famous Opera Festival in summer, the medieval Piazza delle Erbe and Ponte Scaligero and the Romeo and Juliet balcony among other sites," she said.

"A short distance from Verona is the magnificent Lake Garda with Sirmione the nearest resort: visit the medieval Della Scala Fortress, the Roman remains of the famous Latin poet Catullo's villa, stroll along the waterfront and have a drink or a meal in one of the many bars and restaurants."

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 property market likely to get tourism boost

Fri, 29 Apr 2011 00:00:00 GMT

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.

Combined with stabilising property prices and a 1.3 per cent GDP growth, potential property buyers and holiday home investors are expected to reap the rewards.

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

Steven Worboys, managing director of Experience International, said that the region has been attracting interest from investors around the world.

"Calabria was Italy's best kept secret for many years but now the region has been discovered and is charming not only British holiday makers and property buyers but also Germans, Russians, Polish and Scandinavian nationals seeking stunning scenery, a Mediterranean climate and affordable living within a few hours flight," he said.

Indecision costing Brits looking at real estate in Italy

Tue, 5 Apr 2011 00:00:00 GMT

British buyers looking to purchase property in Italy are finding that their indecision is causing them to lose out on “some of the best real estate”.

This is according to Linda Travella, of Casa Travella, who noted that a number of her clients are missing out on their ideal properties because they are hesitant to make a final decision.

She explained that the housing market in Italy has not suffered on the same scale as other areas of Europe as a result of the banking crisis. This means that Italian property prices have not dropped as much as in other countries.

According to Gabetti, the Italian Real Estate Franchise Group, the overall market in Italy is improving but is a little uneven, with high end and luxury property faring the best.

"Now is a great time to buy," said Ms Travella. "With 25 year mortgages on offer at low interest rates why wait any longer?"

The comments follow the release of figures from the Bank of Italy that show house prices in the country recorded declines of just 0.3 per cent last year, with some areas of the country even seeing values rise.

Italian agents 'positive' about the future

Thu, 17 Mar 2011 00:00:00 GMT

House prices in Italy recorded declines of just 0.3 per cent last year, with some areas of the country even seeing values rise.

The news may tempt investors to buy property in Italy, with the news indicating that the market is now near the bottom, Overseas Property Professional reports.

According to the Bank of Italy, the cities of Cagliari, Catania and Genoa all enjoyed increases in terms of prices and research suggests that agents are more positive about the future.

Indeed, 61 per cent of those surveyed by the bank expect the overall housing market to improve over the next two years, while 26 per cent expect it to stabilise.

The bank believes that Italy's better performance could well be attributed to the country's property investment laws which favour the buyer.

Banks in Italy have a solid guarantee on deposit for off-the-plan developments, the news provider explains, while properties resold after five years of ownership are exempt from capital gains tax.

Brits told 'not to overstretch themselves' with foreign property

Fri, 11 Mar 2011 00:00:00 GMT

Individuals looking to buy property overseas may be interested in the latest piece of advice offered by one industry expert.

Amanda Lamb, presenter on Channel 4's A Place in the Sun, advised Brits not to overstretch themselves when weighing up the cost of a purchase.

The news may interest individuals looking to buy property in Italy, with the recent financial crisis having pushed real estate costs down in the country.

"Take a step back, you're not just buying a new pair of shoes or even a car here, it's a major major purchase, so you have to make sure that you're buying it for the right reasons," Ms Lamb said.

"You have to make sure you are buying it because you want to use it and enjoy it. Don't buy something because somebody tells you that you are going to treble your money overnight."

She noted that although there are some great property deals about, people should make sure they are able to cover the costs.

Passenger flights increase globally

Fri, 4 Mar 2011 00:00:00 GMT

New figures have revealed that the number of passenger flights around the world increased 8.2 per cent in January, compared to the same period in 2010.

Data released by the International Air Transport Association (IATA) shows that the total volume of traffic was also up nearly three per cent month-on-month.

The news could lead to a surge in demand for property in Italy, with European airlines reporting a 7.9 per cent rise in passenger traffic and an 8.8 per cent increase in capacity.

"So, we begin the year with some good news," IATA director general Giovanni Bisignani told Overseas Property Professional.

"With most major indices pointing to strengthening world trade and economic growth, this is positive for the industry's prospects."

The organisation added that in January air travel volumes climbed by 18 per cent in comparison to the low point of the market seen in early 2009 and six per cent above the pre-recession peak of early 2008.

Golf helping to drive Italian tourism

Sat, 15 Jan 2011 00:00:00 GMT

Tuscany remains a popular region of Italy for tourists looking to explore the country, it has been claimed.

The news is likely to be welcomed by individuals with buy-to-let property in Italy who are hoping to cash in on the lucrative holiday home market.

In particular, a number of Brits are being drawn to the region to take advantage of a growing number of golf courses that are available to play at, the Italian State Tourist Board has said.

"What they are trying to push now is golf. They have some very beautiful golf courses. Being green and hilly, it lends itself to golf courses," Stefania Gatta, a spokeswoman for organisation said.

"So really you can have the whole experience in Tuscany. You have food, landscape, sea, mountains, golf and spas. It is a very interesting region and very well loved."

Meanwhile, recent research from Travelsupermarket.com has found that despite government austerity measures many Brits are still planning on taking a holiday this year.

Brits 'not likely' to forgo holidays this year

Thu, 13 Jan 2011 00:00:00 GMT

Despite government austerity measures meaning many Brits are feeling the pinch, new research suggests that many will not be giving up on their holidays this year.

The news could be welcomed by those hoping to buy property in Italy, with the country's holiday rentals market likely to benefit from any additional tourism.

According to Bob Atkinson, travel expert at Travelsupermarket.com, many individuals still view time abroad as "sacrosanct" and will not be foregoing one this year.

"In a year when many people are cutting back spending, they will be looking at getting in deals early and taking advantage of the early booking," he added.

"People will be sitting around saying 'I have no money now' but will book a holiday because it has a low deposit and is something to look forward to through the rest of the winter."

Meanwhile, figures released by Sainsbury's Travel Insurance have found that 13.4 million people intend to book a holiday before the end of February - up by 50 per cent compared to the same period in 2010.

Italian real estate market is 'stable'

Tue, 2 Nov 2010 00:00:00 GMT

The Italian property market has remained relatively stable compared to other European destinations, it has been claimed.

According to Conti, the UK's leading overseas mortgage specialist, this is primarily because the country was never heavily involved in the sub-prime lending market.

Indeed, the organisation says that Italy remains one of the top locations for UK buyers and is widely considered as a good long-term investment.

"The Italian property market has remained remarkably intact, primarily due to the country never being heavily involved in the sub-prime lending market," Clare Nessling, Conti's Operations Director, confirmed.

"Nor has it suffered the effects of the over-development of property, like Spain for example."

The comments come after it was revealed that buyers in the country can now take advantage of more competitive mortgage deals, with rates starting from just 2.5 per cent and mortgages of up to 80 per cent loan to value.

As a result, those looking for property in Italy may be encouraged to take advantage of the favourable market conditions and make a purchase.

Italy is 'full of opportunities' for canny investors

Thu, 23 Sep 2010 00:00:00 GMT

International property investors may be "missing a trick" when it comes to Italian real estate, it has been claimed.

Analysing the country's property market, Henderson Global Investors has highlighted a number of positive aspects, often overlooked by buyers.

For example, Italy boasts the seventh biggest global economy and was a founding member of the European Union, which offers it a large degree of stability.

Furthermore, public and private debt remains low and there is a real shortage of distressed property on the market, which is keeping values reasonably stable.

However, views of the Italian property market can often vary depending on who is looking says Stefan Wundrak, European research manager at Henderson.

"Foreign players mainly see risks, whereas locals praise the achievement of relative market stability," he said.

"Investors who stick to the caricature of the Italian economy and property market are quite likely to miss a trick."

The news is sure to interest individuals looking to buy real estate in Apulia, with the southern destination a popular spot for tourists.

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.

Italian property sector 'worth investment'

Thu, 9 Sep 2010 00:00:00 GMT

The Italian property market offers good opportunities for investment, despite its reputation of being risky, according to a report from Henderson Global Investors.

While the nation has been hampered by slow economic growth, the company suggests that there is more to the country than meets the eye, people interested in Regione Abruzzo property or property in Sicily will be pleased to hear.

The analysts' report points to the fact that Italy has the seventh biggest global economy and is a member of the European Union as well as having a stable level of public debt and a resilient banking system, reports Property Wire.

"It becomes obvious that a closer look at the Italian economy reveals a rather more differentiated picture often missed by international observers. As far as the property market is concerned, inside and outside views on Italy can be widely divergent. Foreign players mainly see risks, whereas locals praise the achievement of relative market stability," said Stefan Wundrak, European research manager at Henderson Global Investors.

He added that investors who ignore the Italian property market could be "missing a trick".

Last week, it was reported that gross domestic product (GDP) rose by one per cent across the eurozone during the second quarter of 2010, which is good news for anyone thinking of investing in Italy.

Brits return to Italian property market

Fri, 2 Jul 2010 00:00:00 GMT

Italy is proving to be a hot spot for British investment this year, with some developers reporting an upturn in interest from buyers, Overseas Property Professional has reported.

According to Luca Catalano, director of Realitalia, UK-based investors have begun to come back to the European destination after a lengthy period where the market was dominated by locals.

"Without a doubt we have seen a marked increase in interest from the British with a strong rise in the numbers requesting information, visiting our show homes and ultimately taking decisions," Mr Catalano told the news provider.

Mr Catalano believes that the resurgence in interest can be put down to the current strength of sterling and the offering of attractive promotions to buyers.

The news could lead to an increase in the number of individuals looking for property in Sicily, with the destination boasting a rich and unique culture which makes it a popular tourist destination.

Meanwhile, foreign exchange specialist Moneycorp claimed that the weakened euro was likely to entice investors to eurozone destinations, such as Italy.

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.

Italy proving to be popular among British investors

Mon, 17 May 2010 00:00:00 GMT

Italian destinations are proving to be the biggest draw for British-based property investors, it has been revealed.

According to Overseas Property Professional (OPP), real estate portal Rightmove has reported that the European country has seen enquiries jump 20 per cent in April, compared to last year.

Italy benefited the most from a rapid increase in interest that the website witnessed, with the total overseas searches up 73 per cent.

"There's no doubt absolute traffic volumes are down on the bubble peaks of 2007-08," Robin Wilson, Rightmove's head of overseas, told OPP.

"But there's a ground swell of consumer confidence and resolve amongst serious lifestyle buyers to put into practice the purchase plans they put on hold last year."

Among the Italian regions that saw the biggest increase in interest were Sicily, with 115 per cent growth, followed by Sardinia, Lazio and Campania, which saw rises of between 20 per cent and 30 per cent.

Furthermore, TripAdvisor recently named four of Italy's cities in its top ten Traveller's Choice Destination Awards, with Florence, Venice, Siena and Rome all included.

Italy remains a popular holiday destination for Brits

Thu, 6 May 2010 00:00:00 GMT

Italy remains a popular destination for British travellers thanks to its accessibility, low prices and attractive culture, it has been claimed.

According to the Italian Tourist Board, holidaymakers will be able to enjoy the "perfect" trip if they choose to visit and enjoy the European destination.

The news is sure to interest individuals who are looking to rent property in Italy, as the news could lead to an increase in the amount of people looking to visit the country.

Stefania Gatta, press and communications officer at the Italian Tourist Board, recommended visitors took advantage of the country's culture.

"[Italy] offers everything to make a holiday perfect: it is not too far, served by many airlines at competitive prices, it offers beautiful scenery, art cities, fashion, good food and reasonably good weather," he explained.

In addition, four of Italy's cities are included in the TripAdvisor Traveller's Choice Destination Awards top ten, with Florence, Venice, Siena and Rome all making the list.

Reductions fuelling recovery in Italy

Sat, 10 Apr 2010 00:00:00 GMT

The Italian property market is set for a recovery as agents begin to report an increase in sales, Overseas Property Professional (OPP) has reported.

According to the online news directory, sales in the European destination only fell by 0.4 per cent year-on-year - compared to the 18.6 per cent during the first quarter of 2009, Italy's land registry, the Agenzia del Territorio, has revealed.

Travel and property expert Linda Travella told the news provider that the decision of many expats to sell their property at lower prices was helping the market.

"I'm pleased that we're seeing reductions because clients were coming over expecting price drops and they weren't getting them. There are now properties selling that people couldn't afford before."

She continued, stating that the biggest falls had been seen at the top end of the market.

The Italian property market was predicted to be one of the most popular destinations for real estate investment in 2010 by A Place in the Sun.

Bottom of Italy's property market attracting new investors

Thu, 8 Apr 2010 00:00:00 GMT

The Italian property market is experiencing an influx of new buyers who are taking advantage of the country's low house prices, it has been claimed.

Prices in the country mean that individuals are paying a fraction of the cost for property compared with 18 months ago and as such the European destination has become more affordable for new potential buyers.

Linda Travella of Casa Travella, an expert on Italian property, explained that there has been a significant rise in the number of individuals purchasing property right at the bottom of the marketplace.

She continued: "Primarily the cash rich investors, who maintained their 'cash is king' ethos during the recession, are the biggest investors, opting now to purchase whilst prices remain favourable."

In addition to these traditional investors, a new breed of property buyers have emerged, capitalising on the ability to invest in homes which before would have been unaffordable.

Italy was predicted to be one of the top destinations for property investment during 2010 by A Place in the Sun, with the country capitalising on its relatively stable economic climate.

Russian investors filling gap left by Brits in the Italian property market

Mon, 22 Mar 2010 00:00:00 GMT

Potential European property investors may want to follow the example set by an increasing number of Russian tycoons and head back to the Italian property market, it has been suggested.

Overseas Property Professional (OPP) has reported that, while British investors have been shying away from the housing market in the country, more Russian and other European buyers have begun to fill that void.

Speaking at a property exhibition, the chief executive officer of L'Architrave Lois Allan said: "The number of UK buyers we sell to has gone right down and buyers from Russia, Scandinavia and the Benelux countries are more important now.

"But it's good to have a presence in the UK … because the market is starting to pick up and we want to network."

At the St Petersburg and Moscow International Property Show last year Italy was the fifth most popular destination for potential investors.

Earlier this year, A Place in the Sun predicted that Italy would be an investment hotspot in 2010, bolstered by the fact that it is the fifth most visited country in the world.

Italian property market is stable and still popular

Mon, 15 Mar 2010 00:00:00 GMT

Individuals looking to invest in a stable property market should head to the Italian coast to enjoy rural living, it has been claimed.

According to a report by Country Life, two areas that have remained resilient during the global economic crisis are the region of Tuscany and the Alpine Lakes.

Jelena Cvjetkovic of Savills confirmed to the publication that the cost of property in the country had held firm in comparison to its European neighbours, which have faced severe financial difficulties.

She continued: "In the main coastal and mountain areas, the drop in transactions was moderate and prices fell by only five to ten per cent on average compared to 2008, confirming the passion for holidays in Italy and quality of lifestyle."

The report highlights that the Tuscan countryside offers a particularly attractive option for individuals looking to buy property, combining cultural and historical appeal with reasonable prices.

Investors in the region will be bolstered by news that Italy is the fourth most lucrative country in the world for tourism.

Lifestyle buyers could flock to Italy in 2010

Fri, 12 Mar 2010 00:00:00 GMT

New research has highlighted the key role that cash rich, lifestyle investors are likely to play during the forthcoming year.

According to data released by HomeAway and Savills International, traditional destinations like Italy are likely to benefit from the current economic climate as property investors shy away from buying in long-haul destinations.

Property buyers can capitalise on the tourist attraction that the country holds, with a vast history and culture helping to ensure it is the fifth most visited country in the world.

The research showed that investors have been looking to bolster their property portfolios with European property which has been benefiting from price reductions of up to 30 per cent.

Charles Weston-Baker, head of Savills International, commented: "In 2010, the overseas second home market will be characterised by cash-rich, lifestyle buyers benefiting from lower prices in traditional, established holiday home hotspots."

Earlier this year, A Place in the Sun predicted that Italy would be one of the top ten destinations for foreign property investment in 2010.

Lifestyle buyers grabbing bargains in Italy

Tue, 2 Mar 2010 00:00:00 GMT

Astute investors can take advantage of the current economic climate and slump in property demand to grab themselves a bargain, it has been noted.

According to a report in British newspaper the Daily Telegraph, many individuals are returning to traditional European destinations as properties requiring long-haul flights have fallen in popularity.

One such country seeing an increase in interest in its property market is Italy.

Gemma Bruce, of estate agency GK Italian Property, told the news provider that an increasing amount of lifestyle buyers were taking advantage of cheap housing in Italy.

She explained: "We're seeing prices at their lowest since the downturn started. Buyers are desperate to sell and fear the market will take longer than expected to improve, so are prepared to accept very low offers."

Earlier this year, A Place in the Sun predicted that Italy would be one of the top ten destinations for foreign property investment in 2010.

According to a survey by estate agents Savills, around 430,000 holiday homes worldwide are owed by Brits.

Less 'risky' markets hold potential in 2010

Thu, 21 Jan 2010 00:00:00 GMT

Investment in safer markets such as Italy hold good potential for individuals in the coming year, it has been claimed.

Linda Travella of Casa Travella believes that in 2010 interest will rise in property markets which carry less risk.

Ms Travella stated that Italy's property market had suffered a lot less than others as a result of the economic downturn.

This led to increased sales and interest in the market during the last quarter of 2009, with the country considered a 'safe' place to invest.

"There is talk that in Italy, a well established country, property prices could increase by three to five per cent in late spring," she said.

"I would suggest looking at Tuscany, Le Marche and the lakes of Maggiore & Garda, where good deals can be found if you buy sensibly."

Hollywood star Dustin Hoffman recently praised the Italian region of Le Marche, stating that it possessed numerous attractions and was good value in comparison with neighbouring Tuscany.

Italy moves up searches ladder

Thu, 7 Jan 2010 00:00:00 GMT

Italy has become a more favoured destination for those seeking overseas property, it has been revealed.

Property portal Pimelocation.com released details of its most popular locations for searches, either by country or by specific home, which indicated that Italy had improved in the final month of 2009.

It was the sixth most sought-after destination, up from ninth in November.

At the same time, the US was unchanged in first place and Spain remained in second.

Turkey, Portugal, France and Cyprus were all in the top ten as well.

The portal described Italy as a "rapid climber" in the table last month.

Writing for Country Life recently, overseas real estate expert Paul Hudson noted that top-end residences in the country rose in value by between nine and 27 per cent in the period from 2004 and 2009.

At the same time, they only dropped by amounts ranging from 0.85 per cent to 1.25 per cent last year, he added.

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.

UK property investors 'still gaining' from Italian homes

Fri, 4 Dec 2009 00:00:00 GMT

British property investors who bought in Italy in recent years have seen the sterling value of their assets increasing despite the economic situation, new research has indicated.

A study by the foreign exchange team at investment firm Close Treasury found that those who acquired homes in the country using euro in June 2005 would still be better off in sterling terms by 65 per cent now.

This has been caused by a 30 per cent jump in property prices over that period and a 27 per cent appreciation in the value of the euro against the pound.

According to the researchers, a property bought a year ago would be worth ten per cent more due largely to the strength of the multinational currency, despite values rising only three per cent in this time.

Such a situation may prompt investors to consider buying in Italy, not least as the prospects for prices there may be enhanced by the fact that its economy is performing better than Britain's at present.

While the third-quarter figures for gross domestic product showed that the UK is still in recession, data from Eurostat revealed that Italy started seeing growth again in the third quarter.

Property firm highlights Tuscan fractional property appeal

Fri, 27 Nov 2009 00:00:00 GMT

A property firm has highlighted the sort of property that can be had on a fractional ownership basis in Tuscany.

Realpoint, which provides homes on such a basis in Italy, France, Greece and Turkey, revealed that one and two-bedroom residences are on offer in the hamlet of Borgo di Vagli, which dates from the 14th century and overlooks the 10th century Pierle Castle.

The village has a restaurant, heated swimming pool, two golf courses and concierge services.

In addition to this, the firm noted that the location is 40 minutes from Perugia Airport and is a "short, scenic drive" from Lake Trasimeno.

The company offers one-tenth ownership from EUR65,000 (GBP59,000).

As an alternative to Tuscany, the Times recently suggested that investors could find a good bargain in Bergamo.

Director of The Property Finders estate agency Barbara Wood told the paper the city is easily accessible now Ryanair is flying there.

Italian properties 'available at discount prices'

Tue, 17 Nov 2009 00:00:00 GMT

Those looking for a winter holiday home could find many bargains in Italy if they look in the right place, it has been noted.

In a feature on where to find cheaper properties, the Times notes that the country has prospects outside of its traditional tourist areas that might be of interest to buyers, with prices up to 20 per cent down on their 2007 peak.

Barbara Wood, director of The Property Finders estate agency, told the paper: "You won't get an estate in Tuscany for less than £250,000, but you could find a nice flat in Bergamo, northern Italy, easily accessible on Ryanair."

The news provider added that there are ways of getting an affordable home in Tuscany, noting that one property on the market is a one-bedroom flat in Roccalbegna with views of the island of Giglio and access to a swimming pool.

Italian property buyers may find now a good time to invest in the hope that prices rise soon as the country's economy recovers.

Official European Union economic statistics released last week showed that the country came out of recession in the third quarter.

Italian property 'still stable'

Tue, 3 Nov 2009 00:00:00 GMT

Italy's property market is a stable one that is not prone to large increases or drops in value, it has been stated.

A Times feature on the country quoted head of Knight Frank's Italian desk Rupert Fawcett as saying: "Historically, property prices in Italy have always held. Italy's second-home market has been largely unaffected by the recession."

While there has been a fall in prices, this trend is now in reverse in the same way British prices are currently increasing, he noted.

Mr Fawcett said popular places for second homes in the country include locations like Lake Como, Venice and Capri.

In September, the paper reported that despite the lack of a major plunge in values, there are still some bargains to be found.

It noted examples of where a relative lack of buyers meant Britons who needed to sell have been finding it necessary to lower their asking prices.

Italian olive properties 'a lifestyle choice'

Tue, 6 Oct 2009 00:00:00 GMT

Those who invest in Italian properties in olive-growing rural areas are getting involved in a whole way of life, it has been stated.

Speaking to the Times in a feature on the subject, head of Knight Frank in Italy Rupert Fawcett said those keen to harvest olives will need to form connections with the community.

He stated: "Buyers may not intend to barrel their own oil, but they will soon realise that they need help from a local farmer in looking after the trees. It's the whole lifestyle they are buying into."

The paper noted that the choice of where to buy in Italy may be dictated by the sort of oils the olives of each region produce, with these varying in flavour.

Britons looking to find properties in the country may find the best source is that of fellow UK citizens keen to sell and willing to lower their price, the Times reported last month.

It said many are dropping their asking prices, despite Italy not suffering a major market slump.

Italian discounts 'available from fellow Britons'

Wed, 9 Sep 2009 00:00:00 GMT

Those keen to pick up a bargain property in Italy may find fellow UK citizens are the best source, it has been suggested.

In a feature on overseas property discounts, the Times noted that sellers are looking to drop prices to be able to dispose of their assets, even though the country has not seen a severe market slump.

The paper reported on the case of Edward Mayhew, who ran a Tuscan estate as a wedding reception venue with his wife until she died last year.

Mr Mayhew is now looking to sell up and move top Florence and has cut the price by 50 per cent to get a buyer.

He remarked: "I'm philosophical about having to drop the price so much. It's simply a necessity if I want to sell."

Last month, Shelter Offshore advised that Italy is a good stable market that is well-suited to those keen to invest for the long-term.

Italy tipped as 'stable' market

Sat, 15 Aug 2009 00:00:00 GMT

Italy represents a much more stable market for property buyers than places like the UK, it has been suggested.

Overseas lifestyle portal Shelter Offshore stated that the country has a much less active and therefore less volatile market than others, with the average Italian only moving once every 20 years.

Those who like to invest for the long term will do well, it stated, noting that the country has "everything any property purchaser, expat retiree, holidaymaker or aspiring expatriate could want."

Such attributes included its language, culture, viniculture, beaches and scenery, the website said.

Investors looking at Rome will find that prices have fallen by as much as 20 per cent across the city in the current downturn, estate agency Gabetti told the Times.

However, according to spokesman for the firm Giuseppe Rescigno, the Travestre disitrict is an exception to this, due to its "character", leading to prices holding up well.

Old church building tip for Tuscany property

Fri, 31 Jul 2009 00:00:00 GMT

Tuscany property seekers can overcome the lack of old farmhouses to renovate by turning their attention to disused churches instead, it has been suggested.

In a feature on the subject, the Daily Telegraph noted the case of theatre director Michael Fields, who bought an old church and priest house in the La Marche area.

He spent EUR350,000 (GBP298,000) of his own money on top of EUR220,000 in grants when he acquired the property in 2006 and has now been able to hold musical events in the building.

Roger Coombes from Cluttons Italy told the paper that the spaciousness of such buildings makes them ideal for entertaining.

Another part of the country that buyers may be interested in is the Dolomites area.

The mountainous region was recently elevated to world heritage status for its natural attractions by Unesco, which described it as having "some of the most beautiful mountain landscapes anywhere".

Italian region awarded Unesco status

Thu, 9 Jul 2009 00:00:00 GMT

A region of Italy has been granted Unesco world heritage status, something that may interest overseas property investors.

The mountainous Dolomites range has been added to a list by the United Nations agency safeguarding Europe's most scenic areas.

Formed 250 million years ago, the 18 peaks in the eastern section of the northern Italian Alps rise up to more than 3,000m in some places and cover almost 142,000 hectares.

Unesco praised the "beautiful mountain landscapes" in the region and highlighted areas of international significance, including glacial landforms, deep valleys and fossil records.

Named after 18th century French geologist Dieudonne Dolomieu, the natural world heritage site is believed to have inspired architect Le Corbusier, writer Mario Rigoni Stern and poet Goethe and is protected by a number of parks.

Unesco's list of world heritage sites now features 890 properties that are deemed by the World Heritage Committee to have "outstanding universal value", including 176 natural sites and 689 cultural locations.

Property found in remote Tuscany

Thu, 25 Jun 2009 00:00:00 GMT

A novelist has explained how she and her husband found the ideal overseas home in northern Tuscany.

Writing in the Times, Roma Tearne explained that they had come to the remote far north of the region for a holiday, although she was keener on finding a home.

She noted that the area differs from the tourist-orientated parts of Tuscany by being much calmer and retaining a peaceful, rural atmosphere.

"Unlike the great tourist towns of Italy, where in summer the temper of the locals rises with the heat, these undiscovered towns radiate friendliness," Ms Tearne explained.

She also noted the area offers its own local variants on Italian cuisine, while the valleys are planted heavily with vineyards and olive groves.

Those looking to buy Italian property may also look to another area that is off the beaten track, it has been suggested.

Last week the Independent noted that the Italian Riviera in the Liguria region is geographically close to the Mediterranean coast of France, but with lower house prices.

Italy's alternative Riviera recommended

Thu, 18 Jun 2009 00:00:00 GMT

Italy offers a cheaper alternative to the French Riviera, it has been stated.

The Liguria region is close to the Cote- D'Azur but is cheaper to buy Italian properties in, the Independent reports.

Luca Catalano of estate agency RealItalia told the paper that "regular flights into Genoa and Nice" make it a highly accessible area for UK buyers.

While coastal one-bed villas cost around GBP259,000, those looking slightly inland can find lower prices, said Italian property specialist Gemma Knowles.

She remarked: "Nice apartments in towns can cost from around GBP215,000 while inland you can find homes in charming hilltop villages or farmhouses from around GBP130,000."

Italy was recently named as one of the countries to benefit from a growth in UK buyers thanks to the rising strength of sterling against the euro, the Financial Times reported.

Director of dealing at foreign exchange firm Currencies Direct Mark O'Sullivan noted that the improving pound had provide a "confidence boost" to British investors buying in Europe.

Tourism investment in potential property boost

Fri, 5 Jun 2009 00:00:00 GMT

Italy is to offer extra funding for its tourist industry, something that could benefit those investing in holiday rental property.

Prime minister Silvio Berlusconi announced a plan whereby some of the country's largest banks will offer loans with favourable interest rates to developers of tourism facilities, with the total of funding standing at EUR1.6 billion (GBP1.38 billion).

He said the idea is to double the amount the industry contributes to gross domestic product to 20 per cent, noting that tourism in countries like Spain currently contributes more to national income.

Those buying tourist rental property in Italy may find demand for this is boosted by improvements in the infrastructure and facilities on offer to visitors.

British property buyers in Italy have become increasingly involved in Sicily in the past couple of years, Country Life recently reported.

The magazine noted that the eastern side of the island is the most favoured part for UK investors.

Sicily 'drawing in Britons'

Mon, 1 Jun 2009 00:00:00 GMT

British property buyers have become significantly involved in the Sicilian property market in the past two years, it has been stated.

In a feature on the island's investment prospects, Country Life noted that UK purchasers prefer the east side of the island, where prices have been rising around ten per cent in towns such as Ragusa.

However, Sicilian property remains cheaper than mainland Italy prices, the magazine added.

Features of the island listed as attractive for buyers by the magazine include its ancient monuments, the presence of Mount Etna - Europe's largest active volcano – and the ease of access for second home buyers, with the last factor shortly to be improved with the opening of a fourth airport at Cosimo/Ragusa.

Buyers in Italy may also find that the cost of doing so is falling thanks to the recovery in value of the pound against the euro in recent weeks.

This trend has boosted mortgage enquiries from Britons keen to buy in eurozone countries, overseas mortgage firm Conti has said.

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.