Property Investment Case Study: Italy (TPI-IT-001)
Introduction:
Buying Property in Italy cont..
The attraction of the Italian property market is strong especially among British buyers because property in Italy often offers far better value for money when you compare like for like with Spain and Portugal for example.
Furthermore there has been a boom in the number of low cost airlines servicing many regional airports in Italy and this has opened up ‘new’ property markets to foreign investors.
Many purchasers are attracted to the beautiful period properties that Italy is famous for and which can still be snapped up at bargain prices and renovated to their former glory. The Italian government offers substantial grants for certain renovation work as well, and this is just another bonus that attracts foreign buyers to the property market in Italy.
Location:
No data available
Economy:
Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. The current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Italy has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and over-generous pension system, because of the current economic slowdown and opposition from labor unions. But the leadership faces a severe economic constraint: the budget deficit has breached the 3% EU ceiling. The economy experienced almost no growth in 2005, and unemployment remained at a high level.
Property Market:
No data available
Examples:
Attractions:
No data available
Transport Infrastructure:
No data available
Local Mortgage:
No data available
Inflation:
2%
Economic Growth:
0.1%
Sunshine Days:
No data available
Annual Rainfall:
No data available
Temperatures:
Winter: No data available
Summer: No data available
Property Price Inflation:
No data available
Local Currency:
No data available
Cost of Living Index:
No data available
Income Tax:
No data available
Property Tax:
No data available
Capital Gains Tax:
No data available
Buying and Selling Costs:
No data available
Rental Yields:
No data available
Report Compiled By:
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Report ref: TPI-IT-001
Date created: 24-01-2006
