'bargains can be found' in italian property sector

Investors looking for a good deal on an Italian property should be able to find an asset at a reasonable price, it has been claimed.

Director of the international department at Savills Charles Weston Baker told the National buyers can now find houses in the country for 20 to 30 per cent less than their value in 2007.

He explained that stricter planning laws in Italy have resulted in less oversupply than in other Mediterranean nations, such as Spain, but that the weak market has still pulled prices lower.

Meanwhile, Harrison D'Onofrio, Italy sales manager for Hamptons, recommended that potential buyers look at regions such as Puglia and Calabria.

Source: PropertyShowrooms.com