Latest reports on prices of property in Italy

Despite the ongoing problems in
the Eurozone, property prices in Italy remained relatively flat in the second
quarter of 2012. That’s the result of a new report from the Italian Land Agency
that found prices in the country remained steady despite a fall in transaction
numbers.

Keep reading to find out more
about the property market in Italy.

Weakness of euro offers opportunities to foreign buyers of property in
Italy

The Italian Land Agency report
found that while property transactions fell in the second quarter of 2012, real
estate prices held their ground in many of the major regions.  Property prices in Rome rose by 0.4 per
cent over the period from April to June while values in Turin rose by 0.3 per
cent over the same period.

The worst performing location,
Palermo, only saw property prices fall by 2.1 per cent in the second quarter of
2012.  This compares favourably to
many other areas within the Eurozone which have been affected by the global
economic crisis.

Paul Belcher, an Italian property
expert, said: “Property values in the key locations in Italy have been
stable for years as there was no speculative bubble to burst. Italy is not a
market in deep distress, but beneath the surface there are plenty of Italians
now willing to sell properties the family has owned for generations and no
longer uses.”

The strength of the pound against the
euro is also helping British buyers of Italian homes.  As the euro has weakened by around a fifth against other
currencies, the relative price of homes in Italy has fallen for many overseas
buyers.

Stable prices in the country
means that there are lots of opportunities to pick up good value property in
Italy.

Author Nick
Marr