In news that may be seen as a positive indicator of the health of the Italy property market, an international real estate firm has announced the establishment of a new office in the country.

Chesterton has said it is setting up an office at Como in the Lombardy region of northern Italy, with the facility specialising in property around Lake Como and the other Italian lakes.

Director of Chesterton Como Cheryl Lorenzo-Penn said the area was an attractive and largely unspoilt one, yet also highly accessible via the proximity of Milan airport.

She added that there is a particular quality in the investments available, stating: "In general, a property bought here will be a lifetime investment, as prices of quality properties remain relatively constant, appreciating over the years."

Ms Lorenzo-Penn added that Italy property has held up well due to the prudent lending policies of Italian banks, including a tendency for loan-to-value ratios on mortgages to "rarely" go above 80 per cent.

Another factor which may bolster the market is the imminent arrival of footballing icon David Beckham, who is joining AC Milan on loan from LA Galaxy, it was recently revealed.

Press attention on the kind of property the former England captain chooses to live in may further raise the profile of the market, as well as that of the Italian lifestyle and attractions in the Milan area.

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