Russian investors warming their toes in Italy
It’s puzzling as to why UK investors have been shying away from Italy's real estate market, given the fact that the value of property in the country hasn’t seen the turbulence felt elsewhere in the world.
It could be argued that the stability in the value of real estate in Italy has made it less competitive than places such as Spain and France. That’s ok until you look at transaction volumes in those countries and realise that they aren’t stealing away investors. However, Italy isn’t too worried because what UK investors are missing out on, Russian investors are seizing upon.
Bulgaria has seen a tremendous amount of Russian investment, particularly in the Black Sea region and now it would appear that similar property in Italy, which is just around the corner, is catching their eye. Many industry professionals are predicting a good year for Italian properties, with the country placed easily within the top 5 most visited destinations in the world. The market there is probably one of the best for the risk adverse investor, all with a touch of class that’s hard to find elsewhere.