'Italian property market favours buyers'

Brits looking to transfer money to overseas investments may like to search the Italian property market for new assets.

Real Estate expert the Property Finder recently told the Guardian that prices for some homes have plummeted by ten per cent.

Paul Hudson, from the company, said: "The second or holiday-home market has, at least in some areas, performed even better than the first house or prima casa market.

"This year it is more in the buyer's favour, with longer selling times and greater leverage on discounts."

In addition to potentially affordable investments, Brits making money transfers to Italian-based investments may also benefit from the greater stability offered by the country's property market.

Mr Hudson added that experts are not forecasting a collapse in the housing sector as the recession continues.

In other news, the European Central Bank recently revealed it plans to maintain interest rates at one per cent in order to push the economy towards recovery.

Click here to make an International Money Transfer.

By John Mills