British buyers on the up in Italy
British appetite for Italian property has increased in the last year, reveals new research.
While Brexit negotiations begin between the UK and the European Union, buyers are still keen on Italian real estate, according property portal Gate-Away.com. British inquiries increased by over 28 per cent in 2016 compared to 2015, says the site, while overall requests for Italian properties grew at around 54 per cent.
Brits are now the third biggest national group interested in Italian property, making up 12.83 per cent of Gate-Away.com activity, behind the USA (14.25 per cent) and Germany (14.34 per cent). London is first in the world top 10 of the most active cities searching for a second home in Italy.
Italy is taken into consideration for investments mostly in residential dwellings, with commercial properties playing a marginal role.
The Brexit vote’s impact upon the pound, though, appears to propel interest to slightly more affordable properties: British buyers are also keen on renovation opportunities.