Italy back on the buy list

Italy is back in favour with international investors seeking long-term income, PropertyEU's Investment Briefing hears.

‘We are finding excellent quality product in some sectors of the market at interesting pricing’ - Mauro Montagner, CEO of Allianz RE Italy Italian real estate is back on the shopping lists of many investors, marking a sharp turnaround from a
year ago when the market was overshadowed by preelection political uncertainty and talk of a possible exit from the euro. Measures introduced by the new Italian government which was installed in April are also expected to give a much-needed boost to the property market. Goldman Sachs certainly thinks the country is worthy of consideration, having given Italy a ‘buy’ recommendation. This supports the sentiment among government majority-owned company Cassa Depositi e Prestiti and some foreign players which have also recently shown positive interest in the market, according to Gabriele Pompei, head of capital markets at Italian property consultancy firm K2Real.
Speaking at PropertyEU’s Italy Investment Briefing hosted by law firm K&L Gates’ London office in May, Pompei said: ‘Worth noting is the growth of institutional investors, including Italian real estate investment funds, which have recorded positive growth since 2000 thanks to the absence of subprime and a credit bubbl e which was not so pronounced in Italy as elsewhere.’

Click on the link below for the PDF of the report, which appears in the June edition of PropertyEU Magazine.