Investors 'could get good returns in Italy'

Tuesday April 22nd , 2008

Forthcoming government reforms could make an Italian investment highly lucrative, according to analysts.

Foreign Property Buyer said prime minister Silvio Berlusconi has pledged to cut the main property tax in Italy.

The website believes that if the government implements this policy, buying a property in Italy will be much cheaper.

"If Berlusconi does go ahead with his pledge, there is even more incentive for people to buy in Italy," it commented.

Foreign Property Buyer added that this could lead to more interest in the country's property market, which would then push up prices in prime areas.

Therefore, property owners could be able to get a good return within a "relatively short period of time".

The recommendation comes after Rupert Fawcett of Knight Frank reassured investors about current market conditions in Italy.

Speaking to the Times, he said areas such as Tuscany are holding up fairly well and maintaining their appeal to foreign buyers.