The Italian property market is a property investment destination worth looking at despite the global recession earning it an association with the struggling economies of Greece, Portugal and Spain, according to Henderson Global Investors.

Stefan Wundrak, European research manager at Henderson Global Investors said: “It becomes obvious that a closer look at the Italian economy reveals a rather more differentiated picture often missed by international observers. As far as the property market is concerned, inside and outside views on Italy can be widely divergent. Foreign players mainly see risks, whereas locals praise the achievement of relative market stability.

“Investors who stick to the caricature of the Italian economy and property market are quite likely to miss a trick.”

Italy has the seventh biggest global economy and has been part of the European Union since its foundation, with a broad based economy and an export industry almost on par with France and well ahead of the UK.

Distressed sellers are virtually unseen across the country, whilst yields for prime products are hardening and rents are close to bottoming out and according to Wundrack, Italy has a relatively resilient banking system.