Holiday Lettings news - Tax changes 'will boost Italian property market'

Tax changes 'will boost Italian property market'

Recent changes in Italian tax laws will benefit some property investors, it has been claimed.

Fly-2let.co.uk reports that non-professional investors who wish to buy a holiday home in Italy and rent it out for a period each year will be able to take advantage of a lower rate of tax.

The website explains that duty charged on such property purchases can now be as low as four per cent, whereas previously it could be as high as 17 per cent.

Speaking to the website, Sarah Ferrara, managing director of Garda Homes, explained that the new regulations should boost the market in the country.

Ms Ferrara said: "The new tax laws will undoubtedly bring a resurgence of buyers back to Italian shores, which will further strengthen this market which has performed well over the last decade."

Italy is home to a number of UNESCO world heritage sites, including the historic centre of Florence and Venice and its lagoon.

This article was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.
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