Italian property sales have started to pick-up

Sales of Italian property have started to pick-up in the past couple of weeks, particularly among UK buyers, it has been claimed.

According to Les Calvert, director of Property Abroad, Sterling is currently strengthening against the Euro, making Italian property cheaper to British buyers. Sterling has been strengthening for a couple of months now, but as people realize it is not going to reverse it is starting to turn into sales

The portal thinks this trend will continue for some time, as it believes Sterling's upward trend against the Euro will continue, and will not level off for quite some time. Les commented : "Sterling has been growing against the Euro for a couple of months, from the time when there was the first indication that the decline in the UK economy was starting to slow, and economists began to feel more confident that they could anticipate the extent of the UK recession."

Liam Bailey, chief market analyst said that the main reason for the rising popularity of Italian property is that it is a secure and stable established market, that hasn't seen massive growth for a good few years, but also hasn't seen any major drops since the economic crisis began. In indecisive times it seems property investors and holiday home buyers are ever-more keen to play it safe."

Recently a Telegraph survey found that Italy was the most popular tourism destination in Europe among its readership. Knight Frank stated that the traditional Italian property purchases such as farm-houses and cottages should take the back-burner to off-plan apartment developments in upcoming markets like Florence, according to Times reports.