Festival season in the city of the golden Madonna is, once again, set to be an extra special occasion as it embodies the thrilling atmosphere of Christmas Time, the city's creativity and love for art will be on display through a variety of activities that have been organized for the festive season.
Those who own Italian property in Milan planning on entertaining their relatives in their holiday home could be interested in getting a little help from a local hotel. This year, the Four Seasons Hotel is offering people the chance to take the stress out of Christmas cooking with its "Elves for Hire" promotion. This allows people to buy a pre-prepared meal, made by the Four Seasons chefs, which can be ready for Christmas Eve.
Programmes packed with special events including beautiful concerts and performances, and the places are transformed into fun venues where visitors can find small and original gifts that reflect the traditions of Christmas. In good news for rental investors, The twelfth edition of 'music from the heavens', a series of concerts held in the city's churches and abbeys, which is festival where music lovers can meet musicians of all different genres, from various countries and musical origins will enhance and rediscover the religious, artistic, and architectural wealth of Milan's metropolitan area.
Meanwhile, Housing values in the northern metropolis are inching upwards, according to a report by Italian property portal Idealista.it. The study which analysed the Milan properties advertised on the site in the third quarter of 2009, found that average prices for resale homes in the city grew by 2.8% to settle at €3,714 per square metre.
Dec 18, 2009
The second home market in Italy continues to hold
Italian property market is a stable one and has been largely unaffected by the recession, it has been reported.
According to Country Life, Paul Hudson noted the strength of the property investment market in the country and commented that the bottom of it has now passed. He cited the data of the value of top-end residences in the country from property agents' federation FIAIP which revealed an average price rise of between nine per cent and 27 per cent between 2004 and 2009.
He said that although there are local variations, the second home market has on average remained stable over previous years.The first half of 2009 only saw a drop of between 0.85 per cent and 1.25 per cent, after a decline of just 0.6 per cent in 2008.
According to Italymag.co.uk reports, prices increased marginally with a small decline in sales in Tuscany region. Sales in Tuscany declined in the provincial capitals (-4.8%) whereas, outside them, they went up by about 1%. In line with the rest of Italy, prime properties in sought-after cities also saw a healthier price increase than other market segments-they went up by an average 3.5%.
A recent study by investment experts Close Treasury has revealed that Italian real estate is showing true strength for Brits in these uncertain economic times, and much of its success is down to multi national currency. Brits, who have bought Italian properties using the Euro in recent years, will have seen a sterling value increase in their property of around 65% since 2005. The reason for this is attributed to improving market values with the combined effects of price growth and the changing exchange rates are considered.
Such findings are likely to be surprising news and Italian properties are set to become of greater interest to buyers as the country is being seen to be one of the earliest to recover from global recession, making now the right time to consider investing in real estate in Italy.
According to Country Life, Paul Hudson noted the strength of the property investment market in the country and commented that the bottom of it has now passed. He cited the data of the value of top-end residences in the country from property agents' federation FIAIP which revealed an average price rise of between nine per cent and 27 per cent between 2004 and 2009.
He said that although there are local variations, the second home market has on average remained stable over previous years.The first half of 2009 only saw a drop of between 0.85 per cent and 1.25 per cent, after a decline of just 0.6 per cent in 2008.
According to Italymag.co.uk reports, prices increased marginally with a small decline in sales in Tuscany region. Sales in Tuscany declined in the provincial capitals (-4.8%) whereas, outside them, they went up by about 1%. In line with the rest of Italy, prime properties in sought-after cities also saw a healthier price increase than other market segments-they went up by an average 3.5%.
A recent study by investment experts Close Treasury has revealed that Italian real estate is showing true strength for Brits in these uncertain economic times, and much of its success is down to multi national currency. Brits, who have bought Italian properties using the Euro in recent years, will have seen a sterling value increase in their property of around 65% since 2005. The reason for this is attributed to improving market values with the combined effects of price growth and the changing exchange rates are considered.
Such findings are likely to be surprising news and Italian properties are set to become of greater interest to buyers as the country is being seen to be one of the earliest to recover from global recession, making now the right time to consider investing in real estate in Italy.
Dec 4, 2009
Italian property market is tipped as stable
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.
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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