Venice property 'weathering the storm'

Venice has always defied the odds. As a tiny city-state, it ruled over the Eastern Mediterranean for five centuries, and held back foreign armies for 1,100 years. Today, La Serenissima is weathering the Eurozone crisis better than most of Europe.

 Even though its primary housing market is relatively limited, the consistent demand for second homes from a wide range of Italian and international buyers provides support, particularly at the upper end.

Knight Frank's Claire Hazle saw increased market activity in 2011, and believes that ‘the outlook for Venice in 2012 is very positive'.

‘There's always a lot of interest at the very top end, but we have also seen it at lower levels,' agrees Ann-Marie Doyle of Venice Sotheby's International Realty. ‘Venice isn't subject to the factors that make other places go up or down. It is attractive because of its history-it's not going to go out of fashion.'

Souce: Country Life