Britain’s Royal Institution of Chartered Surveyors last year singled
out Italy as one of the most advantageous countries in which to invest
in property as its market has kept a stability not seen in the rest of
Europe and the US.

That is because Italy real estate prices did not rise
precipitously as they did in other countries that saw a property bubble
and so did not have as far to fall. In addition, Italian banks’
conservative lending policies avoided saddling Italians with
unaffordable houses. Only one in 12 Italians has a home loan, compared
with one in five UK residents. As Rupert Fawcett, Italy specialist at
global realtors Knight Frank, explained: “Property prices in Italy have
always held.” In marked contrast, average US plunged a record 18.2% in
the 12 months to November 2008, with Las Vegas values falling by more
than twice that figure.

Changes in the Italian tax regime have
cut buying costs by 10-15%, meaning there has ere has scarcely been a
better time to buy Italian property. Yet as with any real estate
transaction, there are commonsense guidelines to follow to make sure
buying your dream home doesn’t become a nightmare. Here are the 10 most
important:

1) GET TO KNOW ITALY
Thousands of foreign
investors and a third of all visitors to Italy flock to Tuscany.
Instead, why not ignore the herd and consider regions such as Abruzzo,
Basilicata, Calabria, Puglia and Sicily, all with cheaper real estate as
well as superb beaches and countryside? If you can, spend a weekend or
longer in a few parts of Italy to see which charms you the most. And,
unless you’re intent on living in splendid isolation, ensure you’re
within easy reach of shops, banks, restaurants, train and bus stations
etc.

2) GET REAL ABOUT PRICES
However, Tuscany’s attraction
has remained undimmed for centuries, thanks to its alluring countryside
and jewels such as Florence, Lucca, Pisa, Arezzo, Cortona and Siena.
Buying property in Tuscany remains a sound investment, but