Italy Investment: Economy
When buying Italy real estate the country's economic situation should be taken into consideration. Economic growth is steady - GDP figures registered 1.8% in 2007 - and Italy boasts one of the continent's lowest inflation rates, all important factors for Italy land and property investment.
Italian property investment is also aided by strong foreign direct investment (FDI) - Italy was Europe's largest recipient of FDI in 2006 - and Italy firmly encourages investment from foreign sources. Investment in Italian properties accounts for a substantial proportion of the country's economy and total expenditure by foreigners on Italian real estate was around €30 billion in 2007.
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 over 46 million visitors in 2007, an increase of 17% on 2006. 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 near Ragusa at Comiso 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
To buy Italy property, particularly in the south and Sicily, offers competitive property prices. Southern Italy land and property represents low entry prices but high capital gains. Italian property in Calabria has seen their value double over the last 18 months and capital appreciation forecasts for Italian homes in the south are between 15% and 20% for the next five years. Not surprisingly, Italy land and property situated in the south offers exceptional value for property investment in Italy.
Read on to our Italian property buying guide.
