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Southern Italy property 'thriving'

14.08.2007

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Emerging property markets in the EU are still performing well, although established markets such as Italy are also reporting good returns.

Government investment and encouragement in local property, along with prices in the south of the country staying low, has meant that foreign investors are now looking there to purchase.

The number of Britons heading to Italy increased by two per cent between June 2006 and June 2007, reflecting this growing trend of UK investors heading to the sunnier climes of Italy.

Mike Dunkerley, director of the Global Property Group, explained: "Tuscany has had a hell of a good run, it's a beautiful place… In the north you've got the Italian Lakes, which are beautiful and you get a hot summer and winter skiing up there.

"The prices are reasonably strong because it's one of the most prosperous areas of Italy."

He added that the south was seeing the most growth thanks to cheap prices meaning there is profit available, although a new law introduced last year has prevented any new building within 300 metres of any beach.


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