Property in Italy remains a desirable option despite taxes reinstated by Prime Minister Mario Monti in December, it has been claimed.
According to Ben Vickers, writing for Bloomberg, the charge - which is expected to raise approximately 21 000 000 000 euros (16 900 000 000) - will not put people off homeownership in the country.
"The alternatives, such as investing in bonds, don't look very enticing to say the least," - he stated.
Around 81% of Italians live in a home they own, compared to just 61% of French people and 46% of Germans.
However, Mr Vickers added that the higher tax could lead to many individuals giving up their second homes.
The money raised from levies will be spread between central government and local councils in order to ease economic problems.
Vittorio Barbera, a law partner at Barbera & Associati in Rome, recently told the New York Times that steady price falls in Italian properties have resulted in a buyers' market.
Source: http://www.propertyshowrooms.com/italy/property/news/homeownership-italy-desirable-despite-taxes_312199.html