Buyers 'should take advantage of cheaper Italian property'

Buyers 'should take advantage of cheaper Italian property' from Elliott Graham Properties

By: Elliott Graham Properties  27-02-2012
Keywords: Golf, New Homes, home for sale

Many sellers in Italy have reduced the asking price of their properties in recent months, prompting one local real estate expert to urge buyers to take advantage of the situation. Linda Travella, of Casa Travella, explained Italian vendors were slower to cut the amount they were asking for their homes than other Europeans. However, she noted they have recently realised doing so is encouraging investors to look elsewhere for their next purchase and many have therefore started to offer Italian properties for sale at "below market value". Ms Travella added the strength of sterling against the euro means buyers from the UK can also benefit from the exchange rate. Buyers may want to bear in mind the reintroduction of a property tax on first homes, announced by the Italian government in December last year. New prime minister Mario Monti set out his plans to bring back the levy, which was abolished under previous leader Silvio Berlusconi, among other austerity measures aimed at getting Italy's budget deficit under control.

Keywords: beachfront, Estate For Sale, First Time Home Buyer Programs, Golf, Holiday Homes, home for sale, Italy, New Homes

Other news and updates from Elliott Graham Properties

Spanish property price rise encouraging from Elliott Graham Properties thumbnail
07-03-2012

Spanish property price rise encouraging

Ignacio Osle, sales and marketing director of developer Taylor Wimpey de Espana, commented that figures showing price rises in certain


Some facts on buying property in Portugal from Elliott Graham Properties thumbnail
21-02-2012

Some facts on buying property in Portugal

Portugal has been popular with second home seekers and retirees since the 1960s. Its climate and the fact that it