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Italy's property market stays strong despite financial woes

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The strong housing market in Italy makes the country the ideal place to find bargain overseas property for sale, it has been claimed.

Terry Hobbs, media manager for international portal Propertyshowrooms.com, said despite the weakness of Italy's economy, the property market has held up as Italians tend to have fewer and smaller mortgages. 

"Whilst property prices have increased over the last ten years, they did not escalate with the ferocity they did over much of the rest of Europe," he said.

Mr Hobbs went on to say that the market is currently the slowest it has been for some time, meaning savvy buyers could get knock-down prices if they find someone who really wants to sell up. 

"A lot of our agents are noting there is a lot more room for negotiation than there was one or two years ago," he added.

Last month, it was reported that the Italian government is considering the sale of state-owned property assets as a way of reducing the country's public debt.

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