The Italian property market is looking increasingly healthy, with more transactions and with prices slowly beginning to rise. Building sites have again begun to appear in the cities and foreign investors are becoming interested in the Italian market, attracted by the still low prices and the excellent prospects for development.
According to Paul Bacon, the head of Italy for agents Healey and Baker, Italy is no longer considered a risky market, following its entry into monetary union and its low inflation rate. The demand of these large investors is mainly focused on commercial centres and office districts. This should however also have positive consequences for small savers: According to Bacon, the presence of foreign investors will lead to a greater transparency in the Italian property market.
Panorama, 18 May 1999
