The Italian property market was enjoying its eighth year of growth when the global economic crisis hit and trends started to change. Many other European countries were already suffering from falling house prices, but houses in Italy continued to increase in value. At the start of this year, house prices in Italian cities started to fall, presenting a great opportunity for investors, whereas countryside dwellings continued to fetch a stable price.

There are many reasons for purchasing houses in Italy, some people do so for investment purposes and others like to purchase a property as a second home. People planning to buy for investment are currently better off purchasing a property in an Italian city as the prices are currently lower than usual and yet many people still want to rent holiday homes and apartments in cities such as Rome, Florence and Venice.

Renting out houses in Italy to tourists is a superb way to bring in additional income, or to pay off money borrowed to purchase a property. However, the purchasing process in Italy is conducive to buying a home outright quickly and easily. This is ideal for investors wanting a second home or for relocation.

Houses in Italy are paid for in advance in a series of lump sums paid directly to the property owner. The amounts and frequency of payments is negotiated between the seller and buyer, and upon the completion of the final payment the official documents and deeds are handed over to the new owner.

This process is open to negotiation, but there are set time limits and restrictions between putting in an offer, placing a deposit and making the initial payment to the owner. As the process varies across Italy, and agents may have differing terms of contract with clients, it is recommended that the advice of a property professional in Italy is obtained.

There are many agents that specialise in securing properties for foreign investors, some of which are able to sign deeds on the behalf of a client. Alternatively, investors who are interested in buying houses in Italy can seek the guidance of a solicitor who specialises in securing property deals.

Italian agents and solicitors may also be able to advise on current trends in property prices to ensure that a sensible purchase is made. However, it is predicted that house prices are beginning to stabilise, which means that they will inevitably start to increase soon; great news for investors, as long as they are quick off the mark.