With an increasingly lively foreign market it is suggested that the Italian property sector should target clients who are seeking prestigious tranquil second homes to escape the stress of everyday life. But is it advantageous to buy in Italy and what are the most competitive countries in Real Estate? The Organization for the Cooperation and Security in Europe (OCSE) has tried to answer these questions through an analysis of the housing market in member countries. Emerging from the study are three different categories of countries, those in which to buy a bargain property, those where it is not recommended to buy and, finally, countries that are seen as ‘average’ where there are good properties at a good price. The
cheapest countries to buy in Europe are Greece, Portugal, Ireland and Germany. Across the globe those countries seen as prohibitively expensive include Canada, Australia and New Zealand while in Europe its best to avoid the United Kingdom, France, Belgium, Holland and Norway. What about Italy? Well it’s probably between these extremes. Purchasing property in Italy is not prohibitively expensive but it is not too cheap either. So buying a house in Italy allows you to acquire a property in a beautiful location at a reasonable price. It also means that Italy, despite being affected by the real estate crisis that hit Europe, has not seen large devaluations in its own property and is reacting with positivity and remains competitive in the world market.
Edited by CA