Italy still offers "excellent value for money"

Italy's property market still offers "excellent value for money", say agents.

The country enjoyed a resurgence in popularity in 2015, as the weak euro boosted spending power for foreign buyers in European destinations, including France, Spain and Portugal. In November 2015, Italy rose two places in TheMoveChannel.com's monthly Top of the Props chart to become the seventh most popular country on the site.

Rome, meanwhile, remained the most searched-for location in the world in the final months of the year - the third quarter in a row that the capital has held the number one spot.

Tuscany, though, is highlighted the area with the strongest growth in 2016 so far, according to Casa Travella, with Northern Tuscany and Volterra joining Puglia as the top hotspots for buyers with budgets of up to £250,000.

For wealthier buyers, Como, Western Liguria and Maggiore are attracting interest, notes the agency.

The pound has weakened considerably at the start of the year, but Linda Travella of Casa Travella says that the exchange rate is still favourable for foreign investors.

"The strength of the [pound] of course affects the market and whilst not quite as strong as it was at the end of last year, at €1.33 to the pound you still get excellent value for money," she comments.

"New laws have also been introduced to help home owners with the streamlining of the IMU, Tari and TV taxes and payments (council tax, rubbish tax and TV licence fees, which have gone down!)," she adds. "This will encourage clients to look at Italy as a very good 2nd and 1st home destination especially with no inheritance tax and no capital gains tax after 5 years."