Property prices have been on a declining trend for some time and have come down by 4.8 per cent since last year, according to Knight Frank, but it’s still considered as a relatively stable market when compared with other European countries. It was never heavily involved in the sub-prime lending market, nor has it suffered the effects of over-development.
The property market, overall, is around 25 per cent below 2008 without being overvalued, according to i-RES (Italian Real Estate Solutions) and prices are expected to fall further this year. There’s no denying that the market is slower, with property purchases half of what they were in 2006, but transactions are expected to increase by 10 per cent this year, according to real estate expert Breglia.
The net result is that Italian property represents very good value, especially with the pound trading strongly against the euro, and investors who are feeling more confident about the market are making their move before they miss out on the best deals. There’s plenty of room too for price negotiation with some very motivated vendors.
Opportunities in the Italian property market are ripe for the taking.
