Following the worsening of the international economic crisis, housing demand significantly dropped in Italy, but Italians continue to see property as a good medium-term investment...
The Italian property market is now suffering the consequences of the global economic crisis, but Italians still perceive housing as a reasonably safe investment and the sector is expected to recover in 2010. These findings come from the latest study by economic intelligence company Nomisma.
Nomisma researchers found that residential sale volumes decreased by 15.1 per cent in 2008. However, the drop was particularly marked in the last quarter of the year, after the deepening of the financial crisis eroded consumers' confidence.
