Italy represents a much more stable market for property buyers than places like the UK and it is not prone to large increases or drops in value, it has been stated.
Knight Frank's Italian desk Rupert Fawcett has stated that property prices in Italy have always held in the past. The nation's economy as a whole has been largely unaffected by the global economic downturn and forecasters are ruling out a property bust. The explanation given for the steady market is the trend to fully pay for houses at the time of purchase rather than take out a mortgage.
Those who like to invest for long term will do well, stated Overseas lifestyle portal Shelter Offshore noting that the country has a much less active and therefore less volatile market than others, with the average Italian only moving once every 20 years.
In a feature on overseas property discounts, the Times noted that fellow UK citizens who have property in Italy are the best source sellers for those looking bargains in the country. They are looking to drop prices to be able to dispose of their assets, even though the country has not seen a severe market slump.
In related news, Shelter Offshore recommended that Italy is a good stable market that is well-suited to those keen to invest for the long-term.
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