Property Hotspots in Italy for 2016

Friday, January 08, 2016

Property Hotspots in Italy for 2016

"Italy will never be a normal country. Because Italy is Italy. If we were a normal country, we wouldn't have Rome. We wouldn't have Florence. We wouldn't have the marvel that is Venice." - Matteo Renzi, Italian Prime Minister

Stylish, hopelessly romantic and oozing with history, Italy remains one of our favourite locations.

Those rolling Tuscan landscapes, the heart-stopping medieval hill-top towns, the wonderful palazzos of the cities, chic seaside ports like Portofino - we could go on...

For property buyers, an abundance of cheap property to renovate has been a big draw: you cannot only come to see the Renaissance beauty, but live in it too.

What's more, popular areas central Tuscany, Umbria and the Lakes - have suffered chunky price falls (price falls have generally been around 25-30 per cent although some up to 50 per cent) so an Italian home has never been so affordable for some time - especially when buyers are looking to capitalise on the weak euro.

In the figures for 2014 produced by Eurostat, the stats bureau for the EU, at -2.9 per cent Italy was below the EU average of 1.1 per cent.

Hot spots are related to transport links, and whilst quick and easy trips to Rome, Florence, Pisa, Milan, Turin and Sardinia's Olbia have produced catchment areas around these airports, areas reliant on only one budget airline (Brindisi, Ancona and Pescara) are not quite as popular with buyers.

Italy also has an excellent rail infrastructure and a user-friendly motorway (autostrada) network across the country that makes getting around quite painless. Buying a property there is often not quite as quick...

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