Property Select - Overseas Property News

Italy revels in new form of tourism

Wed, 14 May 2008 00:00:00 GMT

Apart from being renowned as the ‘country of love’, Italy is also fast gaining in popularity with the ‘wine-nauts’. What is a ‘wine-naut’, you may ask? These are the five million or so practising wine tourists, of which a considerable amount are commuting to Italy as the top choice destination.

According to data released during the Wine and Food Tourism Fair 2008,
“Wine tourism is growing in popularity and now generates some 2.5 billion euros in revenue”.

Experts believe that the wine tourism movement in Italy is operating at only 20% of its potential and could easily double in the near future.

Evidence of wine tourism's success and its benefit to the local economy is the fact that of the three million euros in turnover made by 82 of Italy's leading wine producers, 7.5% comes from direct sales at the vineyards themselves.

Italy's 140 'wine roads', with specialised itineraries through wine-producing regions, as well as annual events like Open Cellars, which draws over a million tourists to vineyards in the spring, is among the many factors helping to expand the new ‘wine-naut’ invasion.

A study by the social research group CENSIS found that “every 10 euros spent in the vineyard generates 50 euros in earnings for the local economy.” And according to another CENSIS report, “wine and food have become the second most important reason why tourists come to Italy and are considered the treat which gives the greatest satisfaction to visitors.”

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property
developments.

Italy shocked by GDP surprise

Wed, 23 Apr 2008 00:00:00 GMT

Italy is set to face the highest rate of inflation since September 1996.

According to new data provided by Eurostat and collaborated by both the Bank of Italy and Istat (the Italian statistics institute); Italy ended 2007’s financial year with a deficit/GDP ratio of 1.9 per cent and a public debt/GDP ratio of 104 per cent.

These latest figures suggest that Italy is at present the country with the highest debt in the European Union, and the third highest globally, following behind Japan and the United States of America.

Italy’s booming property market and housing industry should hopefully give a boost to the Italian economy, so all is not lost �" but investors are encouraged to keep a close eye on the markets, especially when deciding on where to invest and purchase property.

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developments.

Capital gain in Italy remains steady

Thu, 17 Apr 2008 00:00:00 GMT

Foreign investors are not only on the search for property in popular, tropical destinations of the world; a big motivational factor in choosing the perfect investment location is also the authenticity, culture and unrivalled mystery of a location. Italy fits snugly into this mould, and rarely disappoints, as it is ideal for those investors on the search for a taste of quality continental living.

Although Italy has not experienced the influx of international investor’s attention as openly and largely as neighbouring European cities, the likes of Spain, France and Bulgaria; Italy has still maintained a steady, underlying Capital growth.

Italy’s housing market has continued to maintain an average annual rate of 8 per cent growth per year, according to the Bank for International Settlements (BIS).

The decrease in air travel fares has also had a positive impact on Italy, as many investors are taking the opportunity to travel abroad for less; bearing in mind that the cost of living in Italy is considerably less than that of the United Kingdom.

Experts in the Property and Housing market in Italy suggest that a good investment area (that is experiencing active price movement at present) is in and around the Northern lakes of Italy (including Como and Maggiore). By investing in these Italian lakeside properties, potential investors and buyers are assured of good rental returns, as one would be able to benefit from the warmth of weather in the summer seasons and the thrill of the winter seasons, where ski resorts and lodges are in close proximity to most of these lakeside properties.

Many investors are aware of the high demand and short supply of good rental accommodation, and are accordingly investing with factors in mind, in an attempt to further build on the profitability and sustainability of the Italian economy and property market in particular.

Situated all around this European city, Italy is speckled with affordable, newly built properties, as well as untouched towns and villages, where traditional properties are in dire need of restoration and conversions into holiday homes.

Italy is indeed an untapped oasis of opportunity. The beauty of classic meets contemporary is perfectly packaged in this little city, Italy.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Analysts praise Italian market

Thu, 27 Mar 2008 00:00:00 GMT

Italy has been praised for offering a wide variety of attractions to foreign property buyers by industry analysts.

ShelterOffshore.com described the European country as a "stunningly beautiful" place with a good climate, fine cuisine and rich culture.

However, the online portal said Italy could become even more attractive to overseas investors as a result of recently introduced tax cuts.

The reduction of purchase costs means that it is now up to 13 per cent cheaper to buy a residence in Italy, a development the website calls "fabulous news".

ShelterOffshore.com said this could revive interest in the Italian market after a period which has seen many people priced out by high charges.

The website commented: "There is no denying the appeal of Italy from a property buyer’s perspective."

This comes after NuWire Investor recommended Italy to investors on the strength of its diverse range of tourist attractions.

According to the media outlet, the country offers many different types of holiday experiences, such as rural retreats and city breaks.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Italy opened up to British investors

Thu, 20 Mar 2008 00:00:00 GMT

New investment opportunities look set to be created in Tuscany as a result of new flights to the Italian region.

Low-cost airline easyJet is now offering direct passage to Pisa from London Luton Airport.

This means the area is now more easily accessible to both property investors and holidaymakers in the UK.

Therefore, extra interest could be generated among prospective rental investors and those who are considering buying a holiday home abroad.

David Osborne, general manager of easyJet in the UK, has spoken highly of Pisa and the surrounding area, saying it offers "something for everyone".

He commented: "Pisa is a perfect gateway to the stunning region of Tuscany and the nearby city of Florence."

This comes after NuWire Investor recommended Italy to investors on the strength of its diverse range of tourist attractions.

According to the media outlet, the country offers many different types of holiday experiences, such as rural retreats and city breaks.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Consumers shrug off economic downturn

Thu, 13 Mar 2008 00:00:00 GMT

Levels of spending among British holidaymakers are not likely to be affected by global economic problems, experts have stated.

A poll by market research firm TNS Travel and Tourism found that the majority of tourists from the UK will carry on as normal, despite the impact of the worldwide credit crunch, Travel Weekly reports.

This suggests that spending time abroad is a major priority for Britons and that they are not willing to make such a sacrifice, even with a possible worldwide recession on the horizon.

Tom Costley, head of travel and tourism at TNS, remarked: "The UK holiday market appears resilient in the face of the economic downturn."

His comments concur with the view of Ian Bradley from the Association of Independent Tour Operators, who recently told the Guardian that economic problems such as the credit crunch are not unduly affecting the travel industry.

According to TNS, one in four holidaymakers plan to spend a week along the Mediterranean, while one in five are booking trips to long-haul destinations.

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Italy's tourist draw 'benefiting property investors'

Fri, 29 Feb 2008 00:00:00 GMT

Italy's lure as a top tourist destination is benefiting foreign property investors who are able to enjoy healthy returns on their rental properties.

NuWire Investor claims the chameleon nature of Italy, which attracts a wide variety of tourists looking for different holiday experiences, makes buying an investment property in Italy a wise move.

Indeed, busy couples taking short city breaks are often looking for rented accommodation in urban destinations such as Milan and Rome, while families spending their holidays on the country's coast may be seeking beachside villas.

And rural retreats are also in demand among those looking to spend some time relaxing in the countryside, sipping wine in the vineyards or enjoying a bicycle ride through the meadows.

"Italy's exquisite cultural patrimony, evocative countryside and 'made in Italy' craftsmanship all combine to preserve the value of Italian real property," said Donald J Carroll, a member of Pirola Pennuto Zei & Associates in Rome, told NuWire Investor.

Italy is "next in line" to lead the way on foreign property investment and could soon catch up to the likes of France and Spain, according to Louise Hall, business director of Primelocation.com.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Southern Italy attracts savvy investors

Thu, 7 Feb 2008 00:00:00 GMT

British property buyers have not ignored potential investment opportunities in Italy, according to an expert.

Gabriele Giambrone of Italian legal company Giambrone & Law said that savvy buyers from the UK were increasingly focusing their attention on the south of the country.

He highlighted Calabria as an especially popular region among Britons due to its strong investment potential and quality of life.

Commenting on its appeal, he said: "[The area is] attracting a mixture of shrewd second home buyers and investors who recognise the opportunities opening up in southern Italy."

Mr Giambrone added that British property buyers were also snapping up houses in Puglia and Sicily, although many were sticking to traditional markets such as Tuscany and Umbria.

This comes after the Office for National Statistics predicted that the number of Britons who own a second home overseas could more than double in the next 17 years.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

UK investors stay close to home

Wed, 6 Feb 2008 00:00:00 GMT

Property buyers from Britain are continuing to buy holiday homes in mainland Europe, according to new research.

A study by HolidayLettings.co.uk found that last year, Spain retained its position as the most popular market among people from the UK.

Meanwhile, the rest of the list was dominated with countries such as Italy, Portugal and Cyprus, although Florida did creep into the top ten.

Nubricks.com described the findings as a "poke in the eye" for those people who believed that buying foreign property was going out of fashion.

The website commented: "A steady number of purchasers are keeping the holiday home investment industry afloat and the numbers are edging up."

In addition, it said that Spain was clearly still a popular destination among Britons, despite all the recent "doom-mongering" in the press.

According to official figures, about 848,000 people from the UK own a residence outside Britain, not including expatriates.

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More Britons set to move abroad

Mon, 4 Feb 2008 00:00:00 GMT

An increasing number of Britons are set to move abroad within the next 20 years, experts have predicted.

Research by NatWest found that the majority of expatriates from the UK left the country in order to improve their quality of life and reduce their cost of living.

The growing popularity of emigrating in recent years has prompted the firm to suggest that the number of Britons choosing to live abroad will continue to grow.

NatWest stated that many of these are likely to be retirees, since people are now living much longer.

The firm also revealed most British expats believed that moving abroad had improved their lives, as they felt happier, healthier and have a greater sense of well-being.

Spokesperson Dave Isley said this showed that for many people, "the grass can indeed be greener on the other side".

This follows research from HiFX which revealed that the overall level of interest in moving to another country went up by almost a quarter in 2007.

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Airlines benefiting from property investment

Wed, 16 Jan 2008 00:00:00 GMT

Airlines are directly benefiting from people investing in foreign property markets, an expert has revealed.

Harry Bush from the Civil Aviation Authority said that routes to other countries were being used frequently by overseas property investors.

He told the Guardian that the additional number of flights booked by property owners each year was more than the half of the total undertaken by regular holidaymakers.

In addition, he said that wealthy people were among the most prolific flyers, especially those who earned more than £115,000 a year.

Mr Bush commented: "Over time incomes will grow; there are demographic factors such as more single people [and] increasing numbers living abroad."

He said these factors would continue to support the airline industry in the long-term.

The National Association of Estate Agents recently issued a positive forecast for the future of the overseas property sector in the UK.

This means that the aviation sector is likely to continue benefiting from investors flying abroad to enjoy their acquisition.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.

Britons head overseas for winter

Mon, 7 Jan 2008 00:00:00 GMT

Many Britons are opting to spend part of the winter outside of the UK, experts have revealed.

The Association of British Travel Agents (ABTA) stated that there had been a substantial increase in the number people spending the festive season abroad this year.

Sean Tipton, spokesperson for the organisation, said this was partly due to the number of cheap deals currently being offered by holiday firms.

However, he added that many of those who were heading abroad had missed out on travelling overseas last summer.

Mr Tipton commented: "Some people hadn't booked a trip away at all and went through three months of solid rain."

He also said that the torrential downpours that hit the UK last year prompted a huge rush for last-minute breaks, leading to many places offers selling out.

Meanwhile, ABTA has revealed that today is likely to see many people attempt to overcome the post-Christmas blues by booking their summer holiday.

The organisation stated that about half a million Britons were likely to book trips abroad today, as the reality of returning to work after the festive season was setting in.

Property Select offers a comprehensive selection of overseas property, news, members club and reviews of the latest property developments.

Italy to attract winter sports fans

Thu, 20 Dec 2007 00:00:00 GMT

Many winter sports fans are set to travel to Italy this Christmas, new research has revealed.

According to the Association of British Travel Agents (ABTA), the country's mountains have received strong levels of snow during the last few weeks.

This has led to a large proportion of people booking holidays in Italy over the Christmas and new year season in order to enjoy activities such as skiing.

The organisation commented: "After last year's woeful ski season, early snow conditions in Europe have been fantastic".

Figures from ABTA also revealed that a record number of people from the UK were choosing to spend the festive season abroad this year.

About 3.5 million people are set to leave the country in the next ten days and celebrate overseas.

Meanwhile, research by Ebookers.com has found that nearly one in four of those spending Christmas abroad are doing so for the first time.

Italy - Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Italian property market 'set for boost'

Fri, 7 Dec 2007 00:00:00 GMT

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.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Italian tourist market 'could be lucrative'

Tue, 27 Nov 2007 00:00:00 GMT

Property investors could make substantial gains by taking advantage of Italy's tourist market, it has been suggested.

Cities such as Rome, Venice and Florence, which are popular with tourists, are "massively priced" but high in demand among investors looking for property to rent, said Rhiannon Williamson, director of overseas property advisory company Amberlamb.

Having enjoyed an eight year run of rising property prices, Italy has been described as a consistent property investment destination for underlying capital growth by Channel 4's A Place in the Sun programme.

"The rental market in these locations is exceptionally attractive: High yields, massive demand, excellent occupancy levels and the ability to target the tourism market as well as the corporate let and long term tenancy market," Ms Williamson stated.

Investors looking for more affordable entry points on the country's property market should target up-and-coming tourism destinations such as Calabria, she advised.

Ms Williamson added that improved access to the province through cheap flight operators has meant investors who purchase properties in these areas have the "best chance" of achieving capital growth.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Italian investors to benefit from new flights

Fri, 9 Nov 2007 00:00:00 GMT

An airline has announced the launch of extra services to Italy, potentially benefiting investors in its property market.

This week, Irish airline Aer Lingus announced that it would increase the number of planes flying between Dublin and Rome.

In addition, it stated that extra flights to Naples would also be offered, further boosting the accessibility of Italy from the Republic of Ireland.

This is likely to result in an increased numbers of holidaymakers travelling to the country, resulting in greater demand for rental accommodation.

Alternatively, some leisure travellers may be tempted to buy a home in Italy, particularly as the extra flights will make it more accessible from home.

Dermot Mannion, chief executive of Aer Lingus, commented: "It reaffirms Aer Lingus' commitment to providing direct, low fares access for Irish customers to new destinations."

Italy was recently highlighted as a popular tourist destination by MyHoliday.com, which stated many were choosing to stay in self-catering holiday homes instead of hotels.
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Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Investors advised to consider southern Italy

Mon, 5 Nov 2007 00:00:00 GMT

Southern Italy has been recommended as a potentially good location for overseas property investors.

The Sunday Mail spoke to Stephen Ferguson, who had invested in a holiday home in the province of Calabria.

Speaking to the newspaper, he praised the region for offering numerous benefits to property investors, some of which he said made it preferable to other parts of Italy.

For example, he stated that although Calabria was popular as a tourist destination, it was not overcrowded and still had its authentic charm as a result.

Combined with financial benefits such as affordable property values, he added that the area was family-friendly as well.

Mr Ferguson commented: "You're very much away from the hustle and bustle of a busy resort but there are still great facilities and lots of things to do."

This comes after the Telegraph credited Ryanair with triggering the current interest in Calabria by offering cheap flights to the region.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Learning local language 'may benefit expats'

Thu, 1 Nov 2007 00:00:00 GMT

Older people who are thinking of retiring abroad have been advised to familiarise themselves with the local language.

Age Concern said that retirees who were planning to relocate to a non-English speaking country may benefit from learning the native tongue in case they needed to interact with local people.

While the charity stated that this was not essential in some circumstances, it added that language could play "a major role" in other situations.

A spokesperson for Age Concern commented: "You may not need knowledge of the local language to go shopping but it may be crucial for other things such as going to the doctors."

This comes after former journalist Peter Greene told the Telegraph that learning the native tongue would help holiday home buyers and expatriates fit in to their new community.

He stated that if people were not setting up home in the main tourist spots, they may not necessarily find people who could speak fluent English.

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Calabria 'appeals to different types of buyers'

Thu, 27 Sep 2007 00:00:00 GMT

The Italian province of Calabria could appeal to a broad range of overseas property buyers, according to experts.

GEM Estates stated that the region offered attractions such as strong investment potential, culture, history and architecture.

As a result, it was said to have enough broad appeal to attract different types of foreign property buyers, such as those seeking an investment and people purchasing a holiday home.

In addition, the province was described as a location that could be good for families and people who wanted to retire abroad.

GEM Estates said: "Calabria is relatively unknown and has only recently begun its ascent as an up-and-coming market."

The firm added that the growth in the market provided investors with a "window of opportunity" as property values were increasing in line with growing demand.

According to RealPoint Italy, growing tourism in Calabria has added to its investment potential.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Calabria recommended to investors

Thu, 20 Sep 2007 00:00:00 GMT

The province of Calabria has been flagged up as a good location for people planning to invest in Italy.

According to RealPoint Italy, growing tourism in the region has added to its investment potential.

The firm highlighted a range of possible investments that were available for overseas property buyers, such as renovating existing properties and purchasing a holiday home.

Eddy Crompton, director of RealPoint Italy, said: "Now tourism is taking hold, certain pockets are popular with holiday makers coming to Italy."

He added that the province offered "gems" such as Tropea, an area that has always been popular as a holiday destination with Italians.

Mr Crompton said it was located on a narrow section of land, meaning that people in the area were never far away from the coast.

According to a recent poll by Saga, Italy has overtaken Spain as the most popular European holiday destination among Britons.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Italy 'is UK tourists' favourite destination'

Wed, 19 Sep 2007 00:00:00 GMT

A poll of the most highly-rated European holiday destinations has found that Italy is the first choice for British tourists.

Research by Saga showed that 14 per cent of holidaymakers from the UK considered Italy their favourite holiday destination, ahead of countries such as Spain and France.

The poll also found that Portugal was another highly popular country with Britons, indicating the continued popularity of established European markets.

Andrew Goodsell, chief executive of Saga Group, commented: "It's good to see traditional European destinations remain popular amongst people of all ages."

The survey also identified the most popular regions with certain age groups, with Italy being the first choice for over-55s.

Meanwhile, Spain was found to be the preferred option for those aged between 18 and 24.

Earlier this month, these countries were also said to be attracting a lot of interest from overseas property buyers.

Barclays said the market was "flourishing "and that countries including Spain and Italy were attracting an unprecedented amount of foreign investment.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Overseas buyers 'investing in established markets'

Fri, 14 Sep 2007 00:00:00 GMT

Buyers of foreign properties are still choosing to purchase in established markets such as Spain, experts have said.

Barclays stated that the European country was still highly popular among buyers, along with Portugal, Italy and France.

The firm said that record numbers of people were investing in these markets, partly because buying abroad was now "easier than ever before".

Richard Exton, head of Barclays Buying Abroad, commented: "The market is flourishing and many more Brits are taking the plunge and purchasing."

He added that these countries were popular both with people wanting a holiday home and those planning to move abroad permanently.

In addition, he said that overseas property buyers were still choosing markets such as Spain for investment purposes and letting out their purchase to holidaymakers.

Earlier this week, Moneycorp predicted that there would be a surge in the number of people entering the overseas property market during the next few months, as many would have been tempted to buy abroad during their recent summer holiday.

Property Select offers a comprehensive selection of overseas property in Spain, news, members club and reviews of the latest property developments.

Venice 'popular all-year-round'

Fri, 14 Sep 2007 00:00:00 GMT

Overseas property investors in Italy could benefit from people going abroad outside of the peak holiday season.

Research by Expedia.co.uk found that the city of Venice was particularly popular among couples commemorating their anniversary of their wedding.

Since such anniversaries could happen at any time of the year, this extra tourism could be a welcome boost to owners of rental accommodation in and around the city.

Meanwhile, BuyAssociation has highlighted the benefits of purchasing a property in the nearby Lakes Garda and Como.

The website stated that since they were located fairly close to Venice, a city with an international airport, holiday homes and investment properties would be accessible to buyers from other countries.

Paul Collins, property editor at BuyAssociation, said that overseas buyers wanted to be able to get to their properties "nice and easily".

He added that the areas around Lake Garda and Lake Como were "particularly good" for holiday home owners.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Christmas 'is busy for travel industry'

Tue, 11 Sep 2007 00:00:00 GMT

Christmas is one of the busiest times of the year for the travel industry, according to experts in the sector.

The Association of British Travel Agents (ABTA) stated along with August, the festive season was one of the most active periods for holiday firms as people chose to get away from the cold winter.

Spain was described as the most popular destination for Christmas holidaymakers - potentially good news for investors in rental accommodation in the country.

In addition, ABTA highlighted the popularity of skiing resorts in France and Italy at this time of year.

A spokesperson said: "Christmas is the biggest time people choose to go on holiday, partly because of the time they get off and partly because it's one of those times where things aren't happening in the office."

Earlier this year, ABTA predicted that Britons would take a total of 44 million foreign holidays throughout 2007.

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Italy 'becoming more popular' with investors

Tue, 28 Aug 2007 00:00:00 GMT

Italy is becoming increasingly popular among overseas property investors, according to experts.

Each Property Med highlighted Calabria as one area that was attracting lots of interest, partly as a result of its relatively cheap prices.

Katrina Tasker, spokesperson for the company, told the Daily Record that the level of interest in the area had been "amazing".

However, she urged people to act quickly if they wanted to snap up the relatively cheap properties on offer.

Ms Tasker said: "There are still lots of property bargains to be had, but you need to be quick."

She added that if people wanted to buy a one-bedroomed apartment, they were likely to cost around £32,000, while those looking at two-bedroomed apartments would be looking at paying £49,000.

Recently, Overseas Property UK predicted that Calabria would be the next major growth area in the European market.

The firm said that investors would be drawn by factors such as the cheap property values and the good climate.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Health service attracting retirees to Italy

Mon, 13 Aug 2007 00:00:00 GMT

Italy's "very good" health service, as well as the wide range of activities on offer, is instrumental in attracting retirees to buy a second home in the country, it has been claimed.

Mike Dunkerley, director of The Global Property Group, says that plenty of people from the UK choose to retire to the Mediterranean country - with official government statistics showing that around 35,000 Brits receive their state pension while living in Italy.

"The overall culture is an attraction," Mr Dunkerley commented.

"It's a different lifestyle, the weather is far nicer, there's quite a lot of exploring to do – a place like Italy is full of history, so you can wile away a good few years exploring.

"The Italian health service is very good … Older people going out to retire are going to have the full range of support," he went on.

He added that people are increasingly buying holiday property in Italy and using it to test out the area before potentially deciding to retire in the sun.

"They're buying a holiday property which they're going to use quite extensively - get to know the area [then] if they do like it enough they will then retire permanently out there," he said.

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.

Retirees attracted by Italian lifestyle

Fri, 10 Aug 2007 00:00:00 GMT

The healthy diet and lifestyle enjoyed by many Italians has long acted as an attraction to British retirees looking to invest in a property overseas, an industry figure has said.

Director of private vendor firm RealPoint Eddie Crompton says that Italy will continue to be a popular destination with elderly Brits - especially as the country has now abolished inheritance tax. This will allow retirees to buy in the sun and safe in the knowledge that their family's future is secure.

"Since the law changed in terms of the inheritance tax, it's [become] a lot more interesting for people who are looking at the financial angle as well," he commented.

"Once you get to a certain age you start planning for these things. And if you've got an interest in living abroad anyway, leaving the UK, then this is certainly one of the factors that people do consider."

"It's well known that people in the southern parts of Mediterranean countries, their diet is considered very healthy, so the quality of life increases … You get more for your money and you can enjoy a simpler and longer life."

Property Select offers a comprehensive selection of overseas property in Italy, news, members club and reviews of the latest property developments.