News: Italian property ''financially interesting''

Mon, 29 Oct 07

Italian property has become a more attractive financial proposition since the abolition of inheritance tax in the country, one expert has emphasised...

Eddie Crompton, director of RealPoint Property, explained: ‘Property in Italy has always had a lot to recommend it.  It has always been popular with Britons - who benefit from a range of factors including the strong sense of community, the healthy Mediterranean diet and the good weather”.

Inheritance tax was abolished in Italy in October 2001. Since then, the financial incentives to buy property in Italy have also increased, particularly for the older generation.

Mr Crompton said: "Since the law changed in terms of the inheritance tax, it’s [become] a lot more interesting for people who are looking at the financial angle as well."

He explained that "if you’ve got any money that you want to hand down to your children, it’s not penalised as it is in this country... once you get to a certain age you start planning for these things".

Investing in Italian property, Mr Crompton concluded, means "you get more for your money and you can enjoy a simpler and longer life, really".

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