The second home market in Italy is doing better than many others, according to a recently released report from Italian estate agents association FIAIP. The report looks at the market in the second half of 2008 and the beginning of 2009 and covers the top 20 resort areas in the country.
Property values have remained steady, according to the report. The values of second homes in the popular resort areas range from €2,810 per square meter to €6,210 per square meter. Sales volume is down approximately 10 percent, and the supply of homes on the market is up by 4.2 percent. Buyers of second homes tend to look for small to mid size properties, from 60 – 120 square meters in size.
A surprising result of the economic crisis is that the gap between the lowest and highest homes is narrowing. Top end values have fallen slightly while lower end properties are fetching more money. The most expensive, and most popular, resorts are Santa Margherita Ligure, Forte dei Marmi in Turscany, Porto Rotondo in Sardina, and the mountain resorts of Courmayeur and Madonna di Campiglio..
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