The luxury Italian property market has been on hold for the first quarter of 2010. We have seen a decline in active purchasers looking to purchase Italian property. We predicted last year that the recession which was still not apparent in Italy in 2009 would start to effect the Italian housing market in 2010. Prices across the board have been effected but the exchange rate has also played a large part for overseas buyers looking for Italian property. Those looking to return the asset to sterling have benefited from the decline in the value of sterling as they are able to reduce their asking prices by almost 33% which still equates to the same sterling value of 18 months ago. Many vendors are now extremely keen to sell their Italian properties and in several cases they have reduced their property prices to well below the present market value to entice buyers.
We now believe that this is the right time to pursue your Italian dream. We have an excellent selection of beautiful Italian properties reduced to levels not seen for 5 years. Follow this link to go directly to our reduced Italian properties .