Italy can be definitely ranked as the property market of contrasts - on the one hand, Italy offers some of the most expensive and luxury estates in the world, on the other, you can obtain a brand new apartment for around 60 000 EUR. Its territory is conventionally divided into three areas - North, Central and South, each of which has its own characteristics and trends. The most developed and wealthy area is the North, where is concentrated the bulk of the Italian industry, while the South is just beginning to develop and relies mainly on tourism and wine production.
The Italian economy has been passed over by the global financial crisis; however, its property market shows signs of such a remarkable stability that only a few of the countries in Europe can boast with. There has never been large-scale construction or a reported boom in sales and purchases in Italy. Accordingly, we cannot speak about hikes and downs in the property prices. A slight increase in the property market in Italy has been reported for Abruzzo and Calabria, while in Tuscany, Veneto and Liguria the prices remain stable. Some decline was registered only in the Campania region.
These are mainly the foreigners who invest in properties in Italy. The domestic demand is very low, mainly due to caution in relation to the changing economic situation in Europe as a whole. The most popular areas are the coastal regions of Liguria, Tuscany, Lazio and Calabria. The properties around Lake Como, Lido di Jesolo, Cortina D Ampezzo and Venice are also attractive. There is increased interest in the northern ski resorts in the country in Piedmont and Valle d' Aosta.
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