About Italy
Italy is one of the world’s most popular tourist destinations, with over 60million visitors a year. It is a nation celebrated for its climate and landscapes, its cultural and historical wealth, and its hospitality. Owing to its peninsular form, Italy has over 5000 miles of Mediterranean coastline, as well as world-class skiing on the sunny southern slopes of the Alps. On top of this, the development of Italy as a group of independent city states has left an extremely diverse culture, with new cuisine, traditions and customs to enjoy in every region.
All of these aspects of the nation make it extremely attractive to visitors, and this, in turn, makes the property very attractive to investors seeking capital growth and rental income. However, Italy has more to offer investors than just a reliable flow of tourists. Property prices remain relatively low in many parts of Italy, with beach-front apartments being available from as little as £40,000 in some areas. The high demand and short supply of property mean that prices are rising, at a rate as high as 20% annually in some areas. Furthermore, in resort areas, rental income can draw returns of up to 10% of the property value annually, so potential capital growth is very high.
Another factor that adds significantly to Italy’s appeal to investors is the huge government and E.U. investment into infrastructure and tourist industry development in the South of the country. Traditionally, the regions of the Mezzogiorno (southern Italy), have been poorer than the North, with lower population density, less industrial development, and greater reliance on agriculture. However, in the era of tourism, all of these factors make the area even more attractive, and further development of infrastructure is set to boost property prices significantly. |
