Living La Dolce Vita

The Pirries have been guided in their search for a home by a UK-registered sustainable tourism company called Tricali. Set up in 2005, the company specialises in renovating and selling traditional properties that have fallen into disrepair, acting as a buffer between Italian sellers and overseas buyers. Once a house is legally signed over, it is renovated and furnished with rustic-style furniture, the cost of which is incorporated into the sale price.

The initial project was in Calitri in Campania but for the last 18 months the company has been selling properties in the Borghi Nascosti villages - half a dozen medieval settlements in Abruzzo which include Fossa - and the town of Irsina in the region of Basilicata. To make itself accessible to British buyers, Tricali operates through agents including Each Property Med, the sole agent in Scotland. Katrina Tasker, of Each Property Med, explains: "The aim of our sustainable tourism projects is to offer a practical, grassroots solution to developing the local economies in the villages we work with. These areas are as beautiful as Tuscany, yet suffer from slowing economic growth.

Property Values rise on Rome's Outskirts

If, on the other hand, you are looking for a real bargain, one option is to look in Rome’s so-called ‘ethnic neighbourhoods’ where prices have been slack recently. A recent report in Italian daily Il Sole 24 Ore points out that Italy’s growing number of foreigners is also one of its fastest growing groups of new home-owners. Yet, despite the growth in demand prices are fairly steady because the areas in question tend to be more depressed neighbourhoods on major city outskirts, or even in the surrounding provinces.

Tassido Coda development on Lake Scanno

Buying a second home is almost like choosing a husband or wife. At least, that's according to Lucio Forgione of Overseas Homesearch, the company behind residenza Tassido Coda. It's a new development, which sits next to Lake Scanno in the Abruzzo region of Italy, a 90-minute drive east of Rome -- 120 minutes, if you don't drive like an Italian.

Lucio believes that, much like when choosing a partner, a potential buyer looks for specific qualities in an investment property. And he has no doubt whatsoever that the 70 properties for sale in Residenza Tassido Coda, which include studios, one-, two- and three-bedroom duplexes, offer an unique opportunity for those looking for a discerning investment in an unspoilt region of Italy.

Hopes that new construction orders would follow Silvio Berlusconi's election as prime minister

Italian real estate - Shares in the largest Italian builder, Impregilo, closed 4.6 percent higher even as the DJ Stoxx index of European construction companies fell.

Impregilo had headed a consortium to build the Sicily bridge under Berlusconi's previous government, from 2001 to 2006, but the outgoing center-left government scrapped the plan.

Among toll-road operators, Autostrada Torino Milano added 2.7 percent and Atlantia climbed 6.1 percent.

Italy's Pirelli RE delays business plan to H2

Chief Executive Carlo Puri Neri said turmoil stemming from the financial markets' crisis made forecasting difficult. Release of the 2008-2010 plan had been scheduled for May 8.

Shares in Pirelli RE fell after the announcement. They were off 4.19 percent at 22.88 euros at 1113 GMT.

"We're working on the three-year plan, but we are also trying to understand how the crisis is turning out. We will present it in the second half of the year," he told shareholders.

Hit by real estate downturn, Risanamento seeks loan

MILAN (Reuters) - Italian real estate company Risanamento (RN.MI: Quote, Profile, Research) said its 2007 loss widened more than tenfold as the property market worsened, forcing it to obtain a loan from banks and try to sell assets.

The net loss totalled 91.7 million euros ($144.5 million), compared to net loss 8.7 million euros in 2006, the company said in a statement late on Friday.

"The changed market scenario, in addition to having strongly influenced the results, caused a situation of financial tension," Risanamento said.

Italian tax planning benefits for home owners

“There are excellent ways of making your money go further if you invest in Italy”, says Linda Travella of Casa Travella, experts in selling homes in Italy for over 20 years.

“When people look to buy abroad they very rarely take into consideration such matters as Capital Gains Tax and Inheritance Tax, but they should, as it can make an enormous difference to the end value of their investment”.

Take Capital Gains Tax in Italy; after five years there isn’t any! This is a fact not widely known, yet if you are investing in a property for your future, this can have a radical impact on the monies you receive at the end of your term of property investment.

Private buyers reap the rewards in Italy

Non-professional investors who are looking for a holiday home that they will enjoy for at least five years, or a permanent residence, are undoubtedly the winners in the Italian property market. New tax laws now favour this sector of the market with dramatic tax benefits. Purchase costs in Italy used to be as high as 15-17%, but new rulings mean that this figure can decrease to approx 4% - 5%, which is a huge gain in some cases.

Furthermore, after five years of property ownership owners, even holiday home owners, are exempt from capital gains tax in Italy. Capital gains tax stood at 12% but under new rulings this has been raised to 20%, so long term investors seeking stability gain considerably. This coupled with inheritance tax only on high value properties and still significantly lower than that of UK death duties, is also a big factor to mature individuals looking to invest here.