Italian property market 'set for boost'

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ITALIAN PROPERTY MARKET 'SET FOR BOOST'

Friday, 07 Dec 2007

The Italian property market is set to be boosted by the creation of new transport links, according to a media report.

Real estate agent Marco Tirelli told the International Herald Tribune that the high-speed rail service that is currently under development would lead to a surge in house prices in tourist spots along the coast.

Although Italy already has a fast train line that connects its major cities, it is currently being extended to include routes between Turin and Milan.

Mr Tirelli stated that the accessibility improvement would trigger a property boom similar to one that would follow the introduction of new flights to a certain area.

He commented: "Ryanair means I have many more options for vacation from Milan; the train can have the same effect."

The growth of the aviation sector has been widely credited with helping to attract foreign visitors to areas such as Calabria, which is become a highly popular location among overseas property investors as a result.

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