According to Italian estate agents association FIAIP, The Bergamo property market is picking up momentum and sends encouraging signals to the rest of Italy.

The FIAIP study found that demand for property in and around Bergamo, one of Lombardy's prettiest and most affluent cities, is once again on the rise. The report stated that first few months of 2009 are seeing some signs of demand recovering, compared to last year.

Giuliano Olivati of FIAIP has said that in 2008, there is a decline in residential sales of 17% in town and 20% in the province, with an average price drop of 7%. He commented: "Now we are seeing demand recovering with a leopard's skin pattern-values are holding well in the best areas (city centre and foothills), while the farthest outskirts, which have old, lower quality stock is seeing noticeable drops."

The research has examined the first months of 2009 and the pictures that emerge from the data, which covers Italy's top twenty resorts, is reassuring. The second home market in Italy has on average remained stable over previous years. Indeed, Sale volumes are down by 10% and supply is marginally up (about 4.2%) but property values continue to hold, achieving a national average minimum of €2,810 per square meter and a maximum of €6,210. Property purchasers, from Italy and abroad mostly look for small properties or medium ones (up to 120 square meters).

According to the Nomisma 2009, the average amount of time needed to make a sale or rent a property in Bergamo increased while rental income stayed at the same levels reported last year. The market for energy efficient homes is growing, sales of new homes with energy savings factors increased in the first months of 2009. The Nomisma survey shows that 10% of the total demand is interested in highly energy efficient homes and buyers are willing to pay 9% more for such properties.

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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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Swiss engineers have begun work on the world's longest rail tunnel, the Gotthard Base Tunnel for 36 miles from Erstfeld, 30 miles south of Zurich, to Bodio, 25 miles north of the Italian border.

The Gotthard Base Tunnel is actually two main parallel tunnels measuring a record-breaking 57km each and total length of 153.5 km of tunnel through the Swiss Alps. Construction of the mega-tunnel will cost almost $15bn. When it is finished, the journey time from Basle to Milan will be cut from more than five hours to three hours 45 minutes and the Zurich to Milan link by more than two hours to two and a half hours, making the rail route competitive with air travel when it opens in 2012.

Meanwhile, The Brenner Tunnel, scheduled for completion in 2022, aims to cut train journey times between Innsbruck and Bolzano from two hours to 50 minutes.

The new rail links will afford increased accessibility which results in the increased tourist numbers and overseas property investors flocking to the country, which is best known for its beaches, favorable climate, vibrant capital city and wealthy cultural heritage. With increased accessibility, newer areas of Italy have become more easily reached and it is therefore now possible to examine the likes of Calabria or Basilicata for example where investors can still find incredibly well priced homes for sale.

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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.

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The Italians still perceive housing as a reasonably safe investment and the sector is expected to recover in 2010 despite the fact that Italian property market is now suffering the consequences of the global economic crisis, according to a latest report.

The latest study by economic intelligence company, Nomisma found that residential sale volumes decreased by 15.1 per cent in 2008. However, the drop was particularly marked in the last quarter of the year, after the deepening of the financial crisis. Industry professionals report that the falling property prices in Italy begin to tempt buyers looking for holiday homes and also making the pricier and more sought after destinations more affordable.

Alexander Kraft, CEO of Sotheby's International Realty in France said "There are more properties coming onto the market in top destinations than we have seen for a very long time. There are good deals to be found." This could be a very good time to go ahead and do it as vendors are more open to offers below the asking price than they have been for a very long time.
Nomisma's reports found that from January to June 2008 Italian property sales reduced and prices saw their lowest rise of the past decade, growing at about 2.1%. For resale homes, Offers around 12% below the asking price were commonly accepted. Nomisma points out that offers of up to 15% below the advertised price are accepted in the southern Italian market however the market is on balance and it is performing better than the north.

The property boom of the last decade did not trigger a major rash of new building in Italy and prices raised with much more constraint than those of other Western economies. Furthermore, Italian banks have been far more cautious in granting mortgages and Italians generally have lower levels of personal debt than others so the country is extremely unlikely to see a dramatic financial crisis on the scale of many other countries and the sector is expected to recover as early as in 2010.

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Florence could be the next hot spot in Europe when property investors start to look for bargains again. Florence property seekers are being offered the chance to experience a host of events aimed at highlighting the work of significant figures from the country.

The historic venues of Florence will play host to Florentine Genius, which is an exciting annual initiative promoted by the municipalities of Florence, presenting a series of events dedicated to historic figures such as Leonardo, Boccaccio and Dante. The event, which runs from May 15th to 24th, offering Tuscany property buyers plenty of opportunity to look around, as well as enjoying the many other historic, artistic and cultural attractions Florence has to offer.

As in the previous festivals, this year's will offer events presenting different cultural experiences celebrating Florentine genius, as well as the traditions and history that enrich the entire provincial territory. Visitors can attend exhibitions, performances, conventions; also feature a variety of musical, film, archaeological and historic re-enactment events, fashion shows, concerts and gastronomic events. The event will also include a debate on the origins and the mysteries of the Mona Lisa. With the festival, the city of Florence intends to create a link between its illustrious past and its bright present and future.

Florence is also one of the "capital cities" of craftsmanship and popular for "shopping". The city also offers some of the world's finest cuisine, with traditional local dishes that have become classics on a worldwide scale. The city represents a most wonderful mix of art and museums, with the Uffizi and the culture, shopping, leather goods, artistic handicrafts, food and wine and in general it epitomizes what's become known the world over as "the Tuscan lifestyle."

For further information on Florence events, please view http://www.geniofiorentino.it/

Meanwhile, The Italian Tourist board has launched a campaign "Golf & More" aimed at promoting the game and the possibilities open to visitors to enjoy it in the regions of Liguria, Tuscany, Sardinia, Sicily, Bolzano and Friuli Venezia Giulia, Golf North East reports.

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Tuscany has a timeless appeal, from hilly pastures, to dark oak forests and sleepy, sun drenched vineyards. As the home of the much-famed wine, Property in wine growing estates is the profitable way of investment in Tuscany real estate, it has been stated.

The Daily Mail reported in an article on Tuscan viniculture and property, that the choices available to those buying in the region include an apartment for £268,120 on a managed wine estate. According to agent Luca Santoro of House & Loft, those keen on investing in Tuscany property include an interest in Tuscan wines such as chianti and the fractional option is a good way to get into property ownership.

The publication also noted that such viniculture possibilities also exist in other parts of Italy, such as in Southern Italy, where the stone cottage deals in Basilicata or Puglia also include being supplied with 50 to 100 bottles each year.

Janet Street-Porter stated that due to a lack of supply and the red tape involved, the practice of restoring old ruined farmhouses has become expensive and harder to do. She also commented that the solution could lay in fractional ownership, citing the example of the Borgo di Vagli hamlet project - where the whole medieval settlement was restored by architect Fulvio Di Rosa and is available on this basis, the independent reports.

In related news, the Italian Iris Council said Tuscany property investors can also enjoy the many artistic features with its renaissance art, architecture, some unusual traditional events, such as the Barchini Boat Race, in which four boats on wheels and other floral events in the region in early May, such as the Greve Flower and Plant Show in the Chianti area.

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Property investors looking to buy where prices are falling will have a better chance to do so in the Italian cities, a new report has revealed.

A series of new estate agent surveys have revealed that prices are tending to dip in the major cities, however they are generally holding up across the other parts of the country, the Roman forum noted.

These include the Tecnocasa and Gabetti forecasting falls of between one and two per cent in Milan, 2.4 per cent in Rome, between two and three per cent in Florence, two and four percent in Naples and six per cent in Turin.

According to the UBH data, which estimate a plunge of eight per cent in Rome and Milan, they also added that the upper end of the market continues to hold firm, so 2009 is likely to be a difficult year only for the lower segment of the Italian market. But, more importantly, the UBH data show that, when considered in a long-term perspective, Italian property values prove robust. Scenari Immobiliari said that despite a national rise of 1.6 per cent.of 6.8% between 2008 and 2007, there has been a drop of 4.8 per cent in the major cities.

Italy has not experienced a widespread financial crisis of the scale seen in other developed nations in this recession period. Even though it has become more vulnerable, the country's banking system remains stable, and its property market, while gently declining, is holding up, due to the fact that Italy has suffered less a rise in unemployment than other European countries, according to reuters reports.

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