Italian property 'smaller than in the UK'

Brits planning to send money abroad ahead of a move to Italy have been advised there are several differences between the country's property market and that of the UK.

Senior move manager at Crown Relocations Kimberley Millhouse explained how housing in the nation's cities is "rather small".

"Apartments don't usually have many bedrooms and villas often have small gardens, so be patient when you're searching for somewhere to live," she stated.

It was also noted that there is often nowhere to park cars, as most abodes do not come with designated spaces.

As a result, Ms Millhouse advised individuals they may have to look to rent somewhere near by, at an additional cost, where they can leave their vehicle.

Those planning on renting a flat rather than buying an investment property were advised that landlords often ask for as much as three month's rent in advance.

This was described as a security deposit on the property, which will be returned to tenants at the end of their time in the apartment if it is left in a good condition.

"You will also be required to pay for your first month's rent at the time of signing the lease," Ms Millhouse remarked.

Alternatively, Germany was recently noted as a good place to invest by founder of ProVenture Property Matthew Littlecott, who explained how the nation currently has stronger rental yields than most other countries.

He claimed the price per square metre for property is cheaper than anywhere else, while yields remain between eight and 12 per cent.

Mr Littlecott suggested rental demand will continue to be strong in western cities such as Hamburg, Frankfurt, Stuttgart and Munich.

In addition, investors were advised they will find property prices increase in-line with rental increases, as this is a common feature of the nation's housing market.

Posted by Chris Barber

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