Italian property prices likely to rise in early 2010
publication date: Feb 2, 2010
There is talk
that in Italy,
a longstanding
favourite with
British buyers,
property prices
could increase by 3-5 per cent
in late spring. Linda Travella of
Casa Travella, has been selling
property in Italy since 1987,
she tells PROPERTYdrum,
“2009 started off very slowly
in all regions but Italy suffered
less than most and prices did
not really start to drop in the
first quarter unless clients
were desperate to sell, where
reductions of between 5-10 per
cent maximum were reflected
in both re-sale and new build
properties. Spring turned to
summer and yes, there were
fewer buyers, but the last
quarter of 2009 saw sales and
interest returning, especially
with Italy being considered
a safer investment than many
other markets.”
Stephen Hughes, associate director at Foreign Currency Direct says, “There are plenty of positives for those looking to buy in Euros going into 2010 after a relatively stable second half of 2009. Even though the UK appears to have fallen behind other economies in the race out of recession, Sterling has held pretty firm against the single currency.”
www.casatravella.com
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