Italian homeowners express confidence

Monday July 21st , 2008

Homeowners in Italy are highly confident about the future performance of the housing market, a new study has found.

Research by the Financial Times found that 64 per cent of people in the country believe house prices will have gone up by 2013.

This is despite the widespread belief that prices will either drop or stagnate during the next 12 months.

The optimism could be reassuring news for investors who have bought a property in Italy, as it suggests they could be in line to collect capital gains in the long-term.

However, the confidence in the market has not stopped Italian homeowners from calling on the government to do more to reduce their financial burdens, such as property taxes.

Italy was recently found to be one of Britons' top five overseas property destinations by A Place in the Sun magazine.