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Italian property prices likely to rise in early 2010

publication date: Feb 2, 2010
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Linda Travella, CasaTravella.comThere is talk that in Italy, a longstanding favourite with British buyers, property prices could increase by 3-5 per cent in late spring. Linda Travella of Casa Travella, has been selling property in Italy since 1987, she tells PROPERTYdrum, “2009 started off very slowly in all regions but Italy suffered less than most and prices did not really start to drop in the first quarter unless clients were desperate to sell, where reductions of between 5-10 per cent maximum were reflected in both re-sale and new build properties. Spring turned to summer and yes, there were fewer buyers, but the last quarter of 2009 saw sales and interest returning, especially with Italy being considered a safer investment than many other markets.”

Stephen Hughes, associate director at Foreign Currency Direct says, “There are plenty of positives for those looking to buy in Euros going into 2010 after a relatively stable second half of 2009. Even though the UK appears to have fallen behind other economies in the race out of recession, Sterling has held pretty firm against the single currency.”