Italian Residential Real Estate Prices Remain Stable in 2010

Residential News » Residential Real Estate Edition | By Michael Gerrity | February 10, 2010 1:20 PM ET

(ROME, ITALY) -- Prices for Italian residential real estate will increase by 5% during the next several moths, according to recent forecasts made by Casa Travella, Italy's oldest real estate agency.

The Italian real estate market has not suffered from the crisis as much as other European countries, so there is a chance for rapid recovery here, analysts believe.

Many international analysts have already called Italy as a safe place for investments in real estate this year, said Casa Travella. - This has already resulted in an increase in the number of requests for the purchase of the Italian property from foreign buyers. And, as a consequence, we can expect a rise in prices.

Currently the most attractive places for the purchase of real estate in Italy are Tuscany, Le Marche as well as Maggiore and Garda Lakes.

Unlike other European countries, the Italian real estate prices have remained stable despite the effects of the recession. This is mainly due to the fact that lending in Italy has always had a much smaller scale compared to other EU countries. 

Property lending has never been popular in Italy. Most of the Italians usually do not have more than one loan. That's why Italy has never experienced any property "booms" as the other European countries in 1990's.

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