Malta Sees a Decrease in Property Prices
The prices of real estate in Italy saw a decrease in the second half of 2008 according to the estate agent group Tecnocasa.
The Italian property market, in fact , has slowed down also because the audience have lengthen their decision time, pushed by the announcement about the Italian economy and by the unsureness of their spending budget availability. Furthermore, the tightening of credit distribution guidelines adopted by the Italian banks, despite they haven't long been hit as much hard as in all the other countries by the market meltdown, has created great difficulties for those buyers who don't have an enormous cash availability and need a bigger mortgage. This deficit of cash flow has caused tougher negotiations between buyers not to mention vendors, leading the deals to be closed at a smaller sale price.
The expert's feeling is that in the first of all months of 2009 there has been an increase in the avenir condo interest, pushed not only by lower interest rates but also by the recognition that the property market has undertaken a new direction and also the property price decrease offers great investment opportunities.