While other markets have fluctuated, in Italy property prices have remained stable, according to the latest Knight Frank Global House Price Survey.

The survey indicated that overall worldwide prices are still growing, although the second quarter of 2008 showed this figure to be 4.8 per cent per annum compared with 6.1 per cent in the first quarter.

However, while some markets were on the rise and some on the way down, Italy’s market was unchanged from a year earlier, with property price growth standing at 5.4 per cent.

Such a trend may encourage those who may prefer more certainty in their investments.

One place investors may wish to look is around Lake Tramasemo in Umbria, which is located 30 minutes from Perugia’s airport.

Apartments with views over the lake can be had for around €310,000 (£252,000), Homes Worldwide reported last month.

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