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Why Foreigners are interested in Buying Properties in Italy?

The market is resilient and prices are supposed to remain flat over the next few years

Why Foreigners are interested in Buying Properties in Italy?

Claudia Astarita

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Interest for Italian properties is rising in Russia as well as in the United Kingdom, United States, China and the rest of Asia.

According to Rupert Fawcett, a partner in real estate agency Knight Frank Italy, "buying property in Italy is primarily a lifestyle choice rather than a short-term investment, which helps make the market more resilient". However, with prices supposed to remain flat over the next few years, in many Italian cities sales just started rising, and this is happening in particular in Rome, Venice, Milan and Florence.

With the Universal Exposition in Milan approaching (May-October 2015), real estate agencies have predicted that during and after the event foreign interest for both commercial and residential property in Italy will rise even further, and faster.

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