Getting to know the real Italy
Italy has long enjoyed a reputation for being glamorous. There’s something about Italy that instantly evokes thoughts of stylish, well-dressed, people, sipping espressos at the local piazza or relaxing in a picturesque rural village, surrounded by olive groves. It’s therefore no great surprise that Italy is one of Europe’s most popular destinations for both overseas property seekers, and expats from around the world.
Rich in history and boasting picturesque, yet thriving cities, stunning rural scenery, fine wines, great cuisine, a decent climate, a much-lauded laid-back way of life, and even ski resorts, there is little doubt that those who spend time in Italy can rightly expect to enjoy a high-quality lifestyle.
From fashionable Milan, one of the world’s leading financial centres and home to some of the country’s finest architecture, to idyllic Tuscany, famous for its glorious landscapes, cultural and artistic heritage and culinary traditions, Italy is synonymous with beauty, luxury and good health.
At they say in Italy: La vita è bella (life is beautiful).
Property Market overview
The Italian philosophy around home ownership is somewhat different to that found in other European countries. Property is predominantly considered a home, rather than an investment, with Italian homeowners likely to remain in their properties for an average of 20 years before moving. As a result, property prices do not tend to see the extreme peaks and troughs seen in other EU countries. As such, Italy didn’t suffer as much as some of its European neighbours during the financial and property crises of the late noughties, partly as they weren’t exposed to over-development in the same way.
That said, Italian house prices slowly decreased in recent years, making it a great time to buy a home in Italy. Recent data shows that prices are now showing signs of levelling out in some regions, and are expected to rise nationwide throughout 2018 (according to the ISAT – Italy’s National Institute of Statistics).
Having a property in Italy has plenty of appeal; there is the stunning surroundings, wonderful historical sites, bustling cities offering fantastic food and drink, shopping heaven, ski resorts and, if you are that way inclined, a thriving nightlife. No surprise either, then, that Italy continues to appear on popular overseas property locations lists.