Italy property has come out near the top of a list of searches at a real estate portal.

Mondinion.com revealed that the country was second only to the Philippines as a destination for overseas buyers, with other countries featuring prominently including Spain, the US, Portugal and France.

Founder of the site Zoltan Baranyai commented: "As the holiday period is coming, more and more buyers and investors are looking for popular vacation destinations," listing "the always popular Sicilia and Toscana" as the top Italian locations.

The Italy property market and others in Europe may be increasingly popular at this time, due to lower prices, improved eurozone exchange rates with the pound and the cuts in eurozone interest rates in recent months.

Last week director of dealing at foreign exchange firm Currencies Direct Mark O’Sullivan told the Financial Times the improved value of sterling had provided a "confidence boost" to British investors.

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