The Italian population surpassed 60 million, national statistics agency Istat has revealed.
National statistics bureau Istat stated that Italy's resident population was 60,017,677. The increase of 488,003 people, Istat said, was completely due to immigration. There were 5.8 foreigners for every 100 residents in 2007, compared to 5 in 2006. The highest rate of foreigners was in the northeast, 8.1 per 100 residents, followed by the northwest (7.8) and central Italy (7.3). In the south, there were only 2.1 foreigners per 100 residents.
Property values in Italy will be clearly affected by supply and demand and amongst the biggest factors affecting demand are the surging population trends and migration. Increased population numbers and falling household sizes will create strong demand for more dwellings.
This is the kind of news that property investors should be glad to hear, particularly in these uncertain economic times when the press is intent on reporting the doom and gloom. The very fact that population is growing at such a fast pace means the economy may be even better placed to get through this undeniably tough period.
The current shortage of housing supply in Italy is also good news for investors. The Italian housing sector has started to respond to the undersupply, with a sudden surge in new home construction in recent times, however building costs are still relatively high-priced in many instances, so new home construction is yet to hit its strides. As demand surges ahead of supply, Rental yields are strengthening and more investors shy away from a very volatile share market and are sinking their money into "safe as houses" property.
0 comments:
Post a Comment