Overseas property news - British demand for italian homes increases

British demand for italian homes increases

International interest in Italian homes is on the up - and Brits are leading the way.

Enquiries from the UK climbed 32 per cent in 2015 compared to 2014, according to Gate-away.com, with interest also rising among Americans, Germans, French and Belgians.

The regions of Tuscany, Puglia and Abruzzo were the most popular, with the average value of property sought around €300,000 with buyers tending to favour detached houses over apartments. The majority of interest was for properties worth up to €250,000 (making up 70 per cent), although 11 per cent of enquiries were for luxury homes.

"The preference for properties in the medium to low bracket," declares Simone Rossi, general manager of Gate-away.com, "reveals a characteristic tendency of the English not to consider renovation as an obstacle, but to view it as an opportunity to give a personal touch to the property. Requests received through our portal for properties partially renovated or to be restructured come to more than 30 per cent in total."

"Another aspect that characterises the British buyers is dealing with modernisation and restoration projects, relying on local craftsmen and using materials appropriate to the original style of the chosen property."

Puglia, interestingly, was unheard of only a few years ago, but now represents a "firm favourite" for British buyers, with Abruzzo also a recent discovery among UK investors. Liguria and Piedmont are the fourth and fifth most popular hotspots.

The report follows research by TheMoveChannel.com that highlighted rising demand for Italian property last year; the country accounted for 11 of the Top 50 most searched-for locations on TheMoveChannel.com in Q4 2015, neck-and-neck with reigning champion Portugal.

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