Italy Investment: Economy
When buying Italy real estate, the country’s economic situation should be taken into consideration. Economic growth is currently slowing down – 0.4% GDP is forecast for 2008, but Italy boasts one of the continent’s lowest inflation rates, an important factors for Italy land and property investment.
Italian property investment is also aided by strong foreign direct investment (FDI) – Italy received US$40 billion in new FDI in 2007 – and Italy firmly encourages investment from foreign sources. To attract new FDI (including investment in Italian properties), the Italian government is liberalising key sectors of the economy.
Italy Investment: Tourist Industry
Those planning to buy Italian property also need to consider tourist figures. Tourism is one of the backbones of Italy’s economy and the country received nearly 44 million visitors in 2007. Calabria and Sicily have shown particularly impressive rises in tourist figures, due to massive investment in infrastructure and services, with Sicily the main beneficiary. Sicily’s airports have seen vast increases in passenger numbers and the new airport at Comiso near Ragusa will contribute significantly to tourist potential. Resort development in the Ragusa area and the extension of the motorway from Catania to Ragusa are further positive additions to Italy property investment opportunities.
Italy Investment: Property Market
Italy property, particularly in the south and in Sicily, offers competitive property prices. Southern Italy land and property represent low entry prices but high capital gains. Italian property in Calabria has seen its value double over the last 18 months and capital appreciation for Italian homes in the south has been between 15% and 20% in recent years. Not surprisingly, Italy land and property situated in the south offers exceptional value for property investment in Italy. For more information, click here for the Italy Property Investment Guide.
