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Earlier this month, the widow of an Italian property mogul passed away aged 94, leaving all of her real estate and financial assets to her pet cat. Four year old Tommaso inherited €10 million and an empire of Rome flats and houses, but he is not the only happy homeowner in the country, as agents say the Italian property market is the busiest it has been for four years.
Spaking to Property Community, Linda Travella of property firm Casa Travella said that against all the odds, market activity was returning to levels last seen before the financial crisis.
Many sellers in Italy have reduced the asking price of their properties in recent months, prompting one local real estate expert to urge buyers to take advantage of the situation.
On the 1st of April 2006 we published an April Fool story entitled "Tourists in Pisa surprised to find tower straightened".
Sotheby's International Realty Affiliates LLC enlarged its global network this week with a new opening in Italy.
UK buyers make up the second biggest group of buyers in Italy, according to Gate-Away.com, Italy's number one property portal for non-Italian buyers, which analysed its data for 2011.
British overseas buyers still retain Spain as their preferred foreign hotspot for purchasing property according to A Place In The Sun's (APITS) recent exhibitions' poll.
Italy's newly adopted austerity package aimed at saving the country from an acute debt crisis has sparked fresh controversy after exempting the Vatican from paying property taxes.
Despite on going financial concern across the euro zone region, Italian real estate investment has the potential to be a platform for growth in the medium term, according to Jones Lang LaSalle research.
The world's housing markets had a weak third quarter of 2011, according to the latest survey of worldwide house price indices prepared by the Global Property Guide. During the year to end Q3 2011, house prices fell in 25 countries (out of the 44 for which quarterly house price statistics are available) and rose in only 19.
Mel Gibson has been eyeing up a wine growing villa in the Chianti region of Tuscany, according to reports.
The new commission will be established shortly, as part of the Congregation for Divine Worship. It will also be in charge of music and singing in the liturgy