Italian estate agents association, FIAIP stated that the second home segment of the Italy property market is in a solid state, but the gap between top and bottom values is reducing.
A report by FIAIP on the top 20 resorts in the country has found that the market is remaining steady; property values continue to hold, achieving a national average minimum of €2,810 per square meter and a maximum of €6,210, homesgofast.com reports.
A new study by Italian estate agent association FIAIP, in association with Risposte Turismo revealed that the global economic crisis is having a surprising effect on second home prices and the gap between top and bottom is becoming narrower. This is because bottom values have increased, whereas top values have slightly decreased by just 0.6% for central locations and up to 2% for semi-central or outskirt ones.
The report named the locations of Santa Margherita Ligure, in Liguria and Forte dei Marmi, Tuscany among the most popular resorts, along with Porto Rotondo in Sardinia and the mountain resorts of Courmayeur and Madonna di Campiglio. Property in the Trentino mountain village now costs a minimum of €5,500 for homes in the outskirts to €14,000 for top level homes in the centre. The report further stated that a handful of other Italian locations also bucked the downturn, recording annual increases in values for every type of second home—Jesolo Lido in Veneto, Lignano Sabbiadoro in Friuli venezia giulia and Cefalu in Sicilia.
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