Weak euro rekindles italian interest

The weak euro has rekindled interest in Italian property in the last 12 months.

The pound and US dollar may not be as strong at the start of 2016 as they were in 2015, but the euro has played a decisive role in recent property investment trends, boosting demand in France, Spain and Portugal.

That impact also extended to Italy, as both the favourable exchange rates and the fact that prices have almost bottomed out prompted the country's real estate to turn a corner in its ongoing recovery.

In the last two years, the euro has slipped from 0.83 to 0.73 against the pound and from 1.38 to 1.09 against the dollar, providing both British and US buyers with a strong buying opportunity in Italy.

According to Knight Frank, sales and viewings of property in the country increased in 2015, with buyer confidence on the up. The number of enquiries from buyers looking for an Italian property jumped 57 per cent year-on-year, with Tuscany generating the most interest, followed by Liguria and the Italian Lakes (from Como to Maggiore).

The report follows research by TheMoveChannel.com that highlighted rising demand for Italian property last year; the country accounted for 11 of the Top 50 most searched-for locations on TheMoveChannel.com in Q4 2015, neck-and-neck with reigning champion Portugal.