Those keen to pick up a bargain property, may find a winter holiday home in Italy if they look in the right place, it has been noted.
According to the Times in a feature on overseas property discounts, the country has prospects outside of its traditional tourist areas that might be of interest to buyers, with prices up to 20 per cent down on their 2007 peak. Barbara Wood, director of The Property Finders estate agency said that buyers won't get an estate in Tuscany for less than £250,000, but they could find a nice flat in Bergamo, northern Italy, easily accessible on Ryanair.
The publication added that there are ways of getting an affordable home in Tuscany, noting that one property on the market is a one-bedroom flat in Roccalbegna with views of the island of Giglio and access to a swimming pool. The Times also noted that sellers are looking to drop prices to be able to dispose of their assets, even though the country has not seen a severe market slump.
Meanwhile, head of Knight Frank's Italian desk Rupert Fawcett said that property prices in Italy have always held. Italy's second-home market has been largely unaffected by the recession. Mr. Fawcett said popular places for second homes in the country include locations like Lake Como, Venice and Capri.
Nov 26, 2009
Nov 18, 2009
Rome- Milan Train journey time has been slashed
Travelers will be able to get from Rome to Milan in less than three hours for the first time next month, according to official reports.
Italian rail chief Mauro Moretti said that From December 13, the fastest journey time from Roma Termini to Milano Centrale will be 2 hours 59 minutes. The Roma Tiburtina-Milano Rogoredo trip will be even shorter, at two hours 45 minutes.
Today's new generation of Freccia Rossa trains have slashed journey times on Italy's main routes. This is likely to significantly boost the property markets in both places, while towns along the route may also benefit from extra demand.
Meanwhile, The Organization for Economic Cooperation and Development (OECD) said that Italy's economy in September showed the strongest signs of recovery in the 30-nation group for the second month in a row. They said Italy’s composite leading indicators (CLIs) for September was up 1.3 points over August and 3.4 points from September 2008, and while the monthly increase for Italy was also 1.3 points, it soared 10.8% for the year.
Given this trend, the OECD defined Italian economy is expanding. Italian government hopes that as well as strengthening the economy, the improvements may also attract more foreign investors to the country.
Italian rail chief Mauro Moretti said that From December 13, the fastest journey time from Roma Termini to Milano Centrale will be 2 hours 59 minutes. The Roma Tiburtina-Milano Rogoredo trip will be even shorter, at two hours 45 minutes.
Today's new generation of Freccia Rossa trains have slashed journey times on Italy's main routes. This is likely to significantly boost the property markets in both places, while towns along the route may also benefit from extra demand.
Meanwhile, The Organization for Economic Cooperation and Development (OECD) said that Italy's economy in September showed the strongest signs of recovery in the 30-nation group for the second month in a row. They said Italy’s composite leading indicators (CLIs) for September was up 1.3 points over August and 3.4 points from September 2008, and while the monthly increase for Italy was also 1.3 points, it soared 10.8% for the year.
Given this trend, the OECD defined Italian economy is expanding. Italian government hopes that as well as strengthening the economy, the improvements may also attract more foreign investors to the country.
Nov 11, 2009
Brits go to Italy for Gastro breaks
Italy is internationally famous in culinary circles and is increasingly attracting holidaymakers from overseas. Brits are attracted by the Italian delicacies and they are traveling to Italy simply for the food.
In an article for the Telegraph, Travel writer Xanthe Clay said that while Brits are most familiar with the cuisine found in the north of the country. However, when Ms Clay took a recent Italian property break to Puglia, she said that she found "some of the gutsiest food is produced further south", which could interest foodie fans looking to invest in Italy property who are unsure which part of the country to choose. Southern Italy is also popular for wines and little wonder that Italy has more grape varieties than the rest of the world put together.
Britons are indulging in gastro-tourism, with some even traveling as far as Colombia to taste the local coffee. A survey by travel website Expedia.co.uk found that 20 per cent of people have travelled to Parma just to taste the region’s famous ham, the Times reports. Italy has prospered into a major food tourism destination with a density of high quality restaurants, an abundance of local food suppliers in the high street, food festivals and events to attract tourists.
Expedia.co.uk communications director Alison Couper commented: "In the past, Brits have been unfairly branded as unadventurous with their culinary choices abroad, so the research findings underline that Brits are adventurous when travelling and becoming more dedicated to immersing themselves in the home-grown local cuisine”.
According to firstpropertychoice.com, the country is "one of the most dazzling places" for the foodie fans when it comes to moving away from the UK. The Calabria region in particular is noted as a haven for Brits wishing to buy property in Italy. With over 250 km of coastline, seafood is naturally one speciality that Italy property investors should not miss in Calabria. Moreover, Fantastic value and quality are other the plus points cited as being in the region's favor.
Nov 2, 2009
Economy has entered a slow recovery, Berlusconi says
Italy's economy has entered a slow recovery and Italians have good reason to be optimistic about the future, in a message marking Savings Day, Italy Premier Silvio Berlusconi said.
In good news for overseas property investors, Mr. Berlusconi said that the worst part of the financial crisis would appear to be behind the country and, while slow, a recovery has begun. There are many reasons for Italians to be optimistic and they can now overcome that attitude which has been defined as 'static' pessimism, he added.
According to the Italian premier, the economic downturn is being overcome ''thanks to the decisions made on a global level as well as the fact that all institutional, social and economic players in this country fulfilled their roles in a positive way''. The premier went on to praise the banks for their performance during the credit crunch which he said helped Italy through the crisis better than many other countries.
Meanwhile, The Italian Banking Association (ABI) decided to allow mortgage holders who are in serious economic difficulty to suspend payments for up to one year. The measure, which will go into effect in January, is for those who have lost their jobs, who are on temporary layoff plans, who were self-employed but have gone out of business and who have lost a family member whose income supported the household.
Moreover, The Italian government is examining ways to help small businesses obtain and manage credit once the current one-year moratorium on loan payments expires, according to Economy Minister Giulio Tremonti. He explained that ''we are thinking about one or more assistance funds, the structure of which need to be compatible with the market''.
Tremonti said that the government could be adjusting taxation, granting greater deductions, ''because personally I prefer to help businesses directly rather than work through the banks''. ''In any case, there will probably be a combination of approaches'','' he added.
In good news for overseas property investors, Mr. Berlusconi said that the worst part of the financial crisis would appear to be behind the country and, while slow, a recovery has begun. There are many reasons for Italians to be optimistic and they can now overcome that attitude which has been defined as 'static' pessimism, he added.
According to the Italian premier, the economic downturn is being overcome ''thanks to the decisions made on a global level as well as the fact that all institutional, social and economic players in this country fulfilled their roles in a positive way''. The premier went on to praise the banks for their performance during the credit crunch which he said helped Italy through the crisis better than many other countries.
Meanwhile, The Italian Banking Association (ABI) decided to allow mortgage holders who are in serious economic difficulty to suspend payments for up to one year. The measure, which will go into effect in January, is for those who have lost their jobs, who are on temporary layoff plans, who were self-employed but have gone out of business and who have lost a family member whose income supported the household.
Moreover, The Italian government is examining ways to help small businesses obtain and manage credit once the current one-year moratorium on loan payments expires, according to Economy Minister Giulio Tremonti. He explained that ''we are thinking about one or more assistance funds, the structure of which need to be compatible with the market''.
Tremonti said that the government could be adjusting taxation, granting greater deductions, ''because personally I prefer to help businesses directly rather than work through the banks''. ''In any case, there will probably be a combination of approaches'','' he added.
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