How's the property market in Piedmont at the beginning of 2012?
The Euro is at a low, so a great time to buy into Euros (It has stuck around €1.2 - £1 for a couple of weeks now). This means prices are lower than two months ago when €1.05 to £1 was more typical.
The Italian economy has remained stable. The introduction of new taxes are doing their job - Italy's interest on loans has drop from 7% to 3.5%. That's great news for the economy and confidence in the country.
The new government will reintroduced ICI, which is a property tax. Berlusconi used it as an election-winning-tool 'vote for me and I'll abolish it' they did and he kept his word. Now it will return but it's not a fortune. I paid around €120 a year for a 4 bedroom house with a little land. The word is that it will be lower this time around. So nothing to lose sleep over.
What for me is a real indication of stability is house price - HOUSE PRICES ARE NOT DROPPING. An agent might ask me if we have clients for this or that house, yet no one is dropping their price. That's a very good sign. I really don't think it will change. Property prices in the UK and USA has gone up and down dramatically, we have stayed very stable.
If you're worried that the Euro might fall further then consider putting a deposit on a house and wait 6 months before concluding the sale. It's possible and will safeguard that house you want. Recently, I had two clients interested in the same house. They both played it cool, keeping the owner waiting so he'd drop his price. He dropped a little and sold to a third party.. Don't be fooled, houses are selling and it's a really good time to buy!
