International money transfers to Italy could rise

A growing number of Britons might be intersted in making international money transfers to Italy as property experts suggest the property market has reached the bottom.

Various estate agents have suggested that Italy's property market is seeing more interest now that prices appear to be at a low.

These include Linda Travella, Italian property expert at Casa Travella, who said: "There is also a constant stream of serious investors who just 18 months ago would not have been able to afford many of the properties available today."

She added: "Whilst the recession has undoubtedly had an enormous effect on worldwide property prices, Italy has maintained a far more stable market."

Additionally, the country's land registry Agenzia del Territorio, reported that sales volumes fell in the fourth quarter of 2009 by just 0.4 per cent year-on-year.

This figure is lower than that of the first quarter of last year, which saw a decline of 18.6 per cent.

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Posted by Eleanor Ward