Italy praised by second home buyer
A second home buyer from the UK has spoken of his decision to purchase a residence in southern Italy.
Eric Smith, from Oban in Scotland, purchased the holiday home in Calabria as his family regularly travel to Italy for their holidays.
However, he told the Sunday Mail that the property was also bought with a financial objective in mind.
Mr Smith commented: "I see this as a long-term investment. I hope to rent the apartment out, although we will also use it."
He added that the favourable tax regime in Italy was also a "big incentive" to purchase a property in the country.
People who sell a property in Italy are currently exempted from paying tax if they have owned the residence for at least five years.
The comments come shortly after Rupert Fawcett of Knight Frank told the Times that some parts of Italy are currently holding up "fairly well" in the face of the ongoing economic crisis across the world.
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