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Overseas Property News
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Italian property market receives government boost
Country: Italy
29 May 2008
Italy’s property market will be encouraged by the news that the Italian government has struck an agreement with banks to revert mortgage payments to lower levels last recorded in 2006, while banks have also agreed to switch variable-rate mortgages into fixed-rate ones.
Speaking at a news conference, Prime Minister Silvio Berlusconi, commented: “We will introduce the possibility (for homeowners) to go back to the mortgage rates of 2006 with a lengthening of the time for which the mortgage will be paid.”
The banks cooperation will bring “relief to the millions of families who have found themselves in the trap of having a variable-rate mortgage,” says Economy Minister Giulio Tremonti.
Tremonti said that after converting the mortgage from variable to fixed-rate, if average interest rates have risen at the end of the initially agreed mortgage, this duration will be extended. While, if rates have fallen banks will reimburse the homeowner.
However, final details still have to be ironed out and it is not yet sure when the deal will come into effect.
Some properties in Italy
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Price: £36,220
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Type: Townhouse
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Bedrooms: 2
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Excellent opportunity for those on a small budget to acquire a good size holiday home in this traditional Sardinian town between the sea and mountains.
Town house in excellent condition requiring little improvement to turn it into a comfortable home.
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Price: £44,269
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Type: Apartment
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Bedrooms: 2
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Spacious first and last floor apartment with independent access and panoramic roof terrace in the characteristic town of Jerzu on the east coast of Sardinia with easy access to mountains and beaches plus all the local facilities just a 10 minute
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Price: £44,269
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Type: House
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Bedrooms: 2
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Town house in the centre of Arzana ripe for modernisation. Located on the East coast of Sardinia, Arzana is an appealing Sardinian mountain town with far reaching views of the coast. This town house presents an ideal opportunity to easily add value .
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Price: £48,294
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Type: House
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Bedrooms: 4
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Jerzu, three storey town house in the centre of this picturesque traditional town, famous for rock climbing and its Cannonau wine, perched on the side of the hills near the Gennargentu mountains yet just 20 minutes from the stunning coast of
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Price: £49,098
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Type: Apartment
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Bedrooms: 1
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Residential For Sale - Apartment - Deposit: EUR 30500 EUR61000 - Lamezia, Calabria.
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Price: £52,318
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Type: House
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Bedrooms: 2
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Delightful old stone built property sympathetically renovated 3 years ago maintaining original features. Also benefits from 2 large terraces and private garden rarely found in this town centre location. Plus fabulous views over the valley and coast.
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Price: £56,343
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Type: Apartment
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Bedrooms: 3
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Spacious first floor apartment, with picturesque mountain and sea views, in the typical Sardinian town of Ilbono in Ogliastra on the east coast of Sardinia.
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Price: £61,172
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Type: House
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Bedrooms: 2
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200 year old town house in the village of Padria 30km from the long sandy beaches of Bosa on the western coast of Sardinia and just 60km from the airport of Alghero. Deceptively generous accommodation with an enclosed rear courtyard and garden.
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Price: £63,587
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Type: Apartment
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Bedrooms: 2
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Residential For Sale - Apartment - Deposit: EUR 43,000 EUR79000 - Capo Vaticano, Calabria.
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Price: £66,001
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Type: Apartment
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Bedrooms: 1
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Residential For Sale - Apartment - Deposit: EUR 41,000 EUR82000 - Tropea, Calabria.
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Prices from: €250,000 Beds: 2 Baths: 2 - 1 ensuite Kitchen + appliances, dining-room, sitting-room, garden front & back. Plans may be modified to suit your requirements.
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Price: €230,000 Bedrooms: 2 Bathrooms 2 Contrada Ulmo, between Martina Franca & Ceglie Messapica. Restored. 1 ha land: DOC vinyard, olive/almond trees.
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