Property market in Italy has received a timely boost with the news that the country's property searches are on the rise.
According to Property portal Pimelocation.com, Italy had improved in the final month of 2009 as it was the sixth most sought-after destination, up from ninth in November. At the same time, the US was unchanged in first place and Spain remained in second. The portal released details of its most popular locations for searches, either by country or by specific home and described Italy as a "rapid climber" in the table last month.
Liam Bailey, chief market analyst at Property Abroad said that as consumer confidence is falling in the wake of the credit crunch established markets like … Italy … are regaining their positions as most popular for overseas property purchasers, noting that investors are choosing to "play it safe" and buy in a country such as Italy, which has a "secure and stable" property market. Locations with a strong tourist market are the best to invest in and southern Italy in particular is still offering lower priced investments.
Commenting on the region, Bernardo Retana, director of IPIN said that it offers attractions such as unspoiled surroundings, easy access and a growing tourist trade. As a result, it could be an ideal market for buy-to-let investors who wish to purchase a property in a rapidly expanding market. He added that the Limits on new building work have been designed to make sure the province retains its natural beauty.
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