Homeowners in Italy remain upbeat about the country's property market, claiming that the property market in Italy is gaining momentum, a new study has revealed.
Recent research by the Financial Times found that 64 per cent of homeowners in the country expressed confidence in the housing market and believed that house prices will have gone up by 2013. This is despite the widespread belief that prices will stagnate with the market is in a slump with a glut of properties. The optimism could be reassuring news for investors those who invest wisely now may be well placed once the slump is over and the market begins to recover.
Rupert Fawcett of Knight Frank reassured investors about current market conditions in Italy. He also added that overseas investors are looking at the long-term, so they are not concerned with immediate financial worries. Foreign Property Buyer stated that attention had recently moved away from eastern European market in favor of more established and traditional destinations.
Italy was highlighted as an example of this, partly because it is considered as a more affordable investment opportunity. Forthcoming government reforms could make an Italian investment highly lucrative as Prime Minister Silvio Berlusconi has pledged to slash the main property tax in Italy.
Meanwhile, HolidayLettings.co.uk has rated Italy as one of the top five investment hotspots in the world.
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