| Country Information : Italy
 Italy has a distinctive boot shape generally known as the Italian peninsula and is located in southern Europe. It is a highly developed country, being one of the founder members of the European Union and part of the G8. The two beautiful islands of Sicily and Sardinia are located in the Mediterranean Sea, while the Adriatic, Ionian, Tyrrhenian and the Ligurian Sea all form part of the Italian Republic. Sicily is probably most famous for its active volcano, Mount Etna.
Italy has borders with France, Switzerland, Austria and Slovenia, and has independent countries of San Marino and the Vatican City. It has a variety of landscapes, predominately occupied by the two mountain ranges of the Alps and the Apennines. The great lakes of Garda, Como, Maggiore, and Orta have deep blue waters and are a spectacular scenic attraction.
Renowned for its good climatic conditions, southern Italy can boast a fantastic hot summer with breezes and mild winters, while the Alps in the North are excellent for skiing in the winter and touring in the summer. The island of Sicily is becoming an increasingly popular winter destination. There are excellent beaches in the areas of Rimini and Cattolica which are popular with British tourists.
Flight times from London to Rome are around 2hrs 30mins with many of the low cost airlines providing scheduled frequent flights in to Italy’s main airports including Pisa, Rome and Milan.
The main areas for property purchase and investment are Tuscany, Umbria, Lombardy, Liguria, Italian Riviera and the islands of Sicily and Capri. Due to Italy’s size, prices can vary between the north and south and the most popular regions, mainly Tuscany and Umbria. As a guide price a property in need of full renovation starts from around £20k, a small apartment from around £35k, a rural home from around £60k and an apartment in Venice costs from £300k upwards. The more popular areas for British buyers such as Tuscany and Umbria, prices start at around £100k for an apartment. There are an estimated 200,000 homes in Italy that are owned by UK residents.
Property prices in Italy have been rising steadily for a number of years. 2004 saw a rise of 9% and the first part of 2005 saw a rise of 12%. New developments and renovation projects have had greater gains especially in the developing areas of the south where rental yields can be higher due to it being an all year round destination.
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