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Italy Property Investment News
Easy life for investors in Italy
Foreign buyers moving into investment property in Italy are increasingly less disposed to starting extensive restoration projects at their new home, according to Knight Frank.
The property consultant has argued that investors attracted to Italy by its lifestyle are "cash-rich, time-poor" and are tending to favour manageable city properties over sprawling rural housing.
Rupert Fawcett, head of the Italian desk at Knight Frank, said that the trend away from the countryside was due to the hectic demands of modern life.
"I think [people are] cash-rich, time-poor", he said. "They don't necessarily want to do the restoration that was once all the rage. They want a base that they can explore the country from, that they can move in and out of quite quickly and easily.
"Or they want the amenities that come with a gated or securer estate where it's managed…I think people have the capacity to buy these places but they don't necessarily have the time to look after them."
He added: "There's the security element. I don't think there's an issue with security but in this day and age people are much more security conscious than they were."
Italy was recently labelled a "tried and tested market", by estate agents Homes of Italy.
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