Tue, 08 May 07
UK overseas property investors are eyeing up houses in rural Italy, according to one international property expert...
Brits are chasing the "Tuscan farmhouse dream", with Paul Owen, chief executive of the Association of International Property Professionals (AIPA) pinpointing the southern Italian region of Calabria as a particularly popular area.
Because of such low prices, Owen said the southern 'toe-end' area of Italy was growing in popularity and suggested that plots of land were hot property.
He also suggested that the property market in Italy was similar to Spain as it was well established and familiar to investors, unlike some newer markets.
However Owen said that although there wasn't anything particularly 'difficult' about buying property in Italy, investors should be cautious: "Do your research, use a bona-fide agent agents do have to be licensed and you should always use an independent lawyer. The staggering fact about this marketplace is that so many Brits go overseas and don't use a lawyer".
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