Potential buyers of property abroad find Italy market stable
02 November 2009
Those seeking property abroad will find that the Italian second home market has been very good at maintaining its value, it has been noted.
Head of Knight Frank’s Italian desk Rupert Fawcett told the Times: "Historically, property prices in Italy have always held. Italy’s second-home market has been largely unaffected by the recession."
He commented that with most properties being bought as long-term investments forced sales are rare, while a price drop of between ten and 20 per cent during the property downturn is now beginning to be reversed.
Mr Fawcett pinpointed areas such as Lake Como, Venice and Capri as being particularly popular areas for such buyers.