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Luxury Real Estate Selling Well in Italy

iExpats 07.11.2012
Luxury Real Estate Selling Well in Italy

Prices are holding up well for luxury property in some of the most desirable regions of Italy. Although the country has suffered from the shockwaves of the eurozone sovereign debt crisis, the top end of the market with homes valued at €3 million or more has escaped almost unscathed.

Latest reports on prices of property in Italy

Despite the ongoing problems in the Eurozone, property prices in Italy remained relatively flat in the second quarter of 2012. That’s the result of a new report from the Italian Land Agency that found prices in the country remained steady despite a fall in transaction numbers.

The national flag of Italy flies from the balcony of a residential property in Rome, on June 16, 2012.

Luciano Di Pardo, a lawyer in Milan, is dodging Italian Prime Minister Mario Monti’s new real estate tax.

The national flag of Italy flies from the balcony of a residential property in Rome, on June 16, 2012.

Luciano Di Pardo, a lawyer in Milan, is dodging Italian Prime Minister Mario Monti’s new real estate tax.

Reinstated Property Tax Won’t Put Italians Off Homeownership

Italians are lining up to pay their property tax today as the deadline looms; the period for paying one of the levies reinstated by Prime Minister Mario Monti in December is coming to an end. The state hopes to raise about 21 billion euros – 9 billion euros will be for the central government and 12 billion will pour into local council coffers, Repubblica reports. That’s if everyone pays up.

Italian property being sold below market value

Now is the time to buy property in Italy, according to many of the country’s agents, who are seeing homes in the country being sold at below market value.

Italy would gain an additional 100 million euros from increasing levies on the church to include all its commercial property, said Paolo Berdini, urban planner and consultant for local administrations.

Nothing may prove to be untouchable in the European debt crisis. The Catholic Church in Italy is under pressure from both governing and opposition politicians to start paying taxes on all its commercial property after Prime Minister Mario Monti asked Italians to swallow 20 billion euros ($25.5 billion) of budget cuts and pay a levy on their homes.

Henderson’s HERALD completes final letting phase of Serravalle Retail Park, Italy

The €930 million Henderson European Retail Property Fund (HERALD) has completed the second and final letting phase of Serravalle Retail Park (Alessandria), in Italy.

Italy real estate market

-Real estate investors who regard the Italian property market as risky and dogged by bureaucracy may be missing a trick, according to analysts.






 
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