Italian property prices 'set to rise'

Italy represents a good location for property investors, as prices in the market are set to experience an increase.

That is according to Edward Crompton, managing director of Real Point Property, who said that lack of supply was the reason for increasing property prices in Italy, particularly in central Tuscany and Florence.

He explained that development land was hard to come by in the country, which resulted in a lack of availability of property.

Mr Crompton commented: "The thing is with Italy it is very difficult to find more development land. You can restore or build on the existing plots but there aren't that many. Once you have sold those and restored them, that's your housing stock supply at an end."

He went on to say that the impending opening of Viterbo airport in the south of Tuscany would make the region "a lot more accessible".

Overseas Property News posted on 30/04/2008 11:41:26