House prices down 1.8% in 2013
European survey says Italy poised to recover11 September, 17:40
While Italy's housing market is "weak" at the moment, it shows signs of recording a slight price increase of about 0.2% next year, said the European Outlook 2014.
The Italian government's decision to abolish the IMU property tax, even though it is to be replaced, should give a bit of a boost to markets, the study said. The survey found that the seven-year average, from 2007-2013, saw the Italian residential real estate market drop by 22%.
That was still better than the decline recorded in other European countries that endured real-estate bubbles in that same period, such as Spain, reporting a 48% drop and England, 44%.