Italian firms find investing in the Czech Republic attractive

Italy is not one of the major countries when it comes to foreign direct investment (FDI) inflow to the Czech Republic. Yet, the last three years saw top financial names such as banking group UniCredit or insurer Assicurazioni Generali taking more steps in the Czech financial market, attracted by profitability above the Western European average. Backing top names, a large number of small firms active in sectors such as real estate, food or fashion carry Italian labels and try to adapt to the Czech investment climate. While these areas offer some room for development, experts say that a large inflow of Italian investments cannot be expected because Italian firms are cost-sensitive and the pressure to reduce costs stimulates them to target Eastern European and Asian countries such as China.

Vatican raises the rent

Looking for an apartment's never easy. But here's a hint if you promise not to tell anybody else: the Vatican's got some good deals. Seriously. Even beyond St. Peters, the Catholic Church owns a lot of pricey real estate in Rome. For years, many of its tenants paid quite reasonable amounts, and they came to believe they were protected from rising rents. But Megan Williams reports now from Rome, their faith was misplaced.

Great choice' of properties in Calabria Italy

There are many opportunities for investors looking to purchase property in Italy, according to one expert. Katrina Tasker of Each Property Med, told the Daily Record that the area of Calabria offers a number of property "bargains", with a "great choice" of homes available. According to Ms Tasker prices for some three and two-bedroom properties in the region are significantly cheaper than in Spain.

Tuscany property still ideal for investors

Property based in the Italian region of Tuscany remains a popular choice for overseas investors, claims a leading real estate company. "The main markets in Italy are Tuscany and Umbria. Then it goes to Le Marche, Puglia and then Abruzzo and Calabria. That's how it runs," she added.

The Catholic Church in Italy benefits from real estate tax breaks

The European Commission has asked Italy for information about tax breaks it gives to the Roman Catholic Church on income from property, after receiving complaints that they amount to illegal state aid. "We have addressed the Italian authorities and asked them for information about this. We are talking about certain tax concessions for the Catholic Church in Italy," Commission spokesman Jonathan Todd told a news briefing on Tuesday. If the Commission opened an official probe and found the Church received aid illegally, it would be up to the Italian authorities to recover the money, Todd said.

Italian property market remains "steady"

According to Annie Temple, managing director of overseas estate agent medpropertyshop.com, the Italian government deliberately limits property construction in order to keep the market "steady" and ensure that it does not become "overrun".Consequently, getting permission to build a house is "very, very hard" in Italy, while even slight alterations to homes in areas like Tuscany are usually not allowed because "you can't change the outside of old properties".Ms Temple stated: "Italy's a steady country; it's not a boom and bust country.