Cash is still King when it comes to buying fly to let properties in Euros during the current economic climate according to specialists.

Stephen Hughes, associate director at Foreign Currency Direct said: “There are plenty of positives for those looking to buy in Euros going into 2010 after a relatively stable second half of 2009.

“Even though the UK appears to have fallen behind other economies in the race out of recession and economic recovery, Sterling has held pretty firm against the single European currency, trading two to three cents either side of 1.10 during the second half of last year.

Linda Travella of Casa Travella, who has been selling property in Italy since 1987, believes that if you have the cash, try to make an offer by March as good bargains can definitely be found at the moment.

“If you want advice for areas to invest in for the first quarter of 2010, then I would suggest looking at Tuscany, Le Marche and the Lakes of Maggiore and Garda, where good deals can be found if you buy sensibly.”

Travella predicts that in 2010 there will be more interest in the less risky world property markets such as Italy where she calculates property prices could increase by 3-5 percent in late Spring.

Travella said: “2009 started off very slowly in all markets with the realisation of what had happened in September 2008.

“That said, Italy suffered less than most other world markets and prices did not really start to drop in the first quarter unless clients were desperate to sell, where reductions of between 5 -10 percent maximum were reflected in both re-sale and new build properties.

“Spring turned into Summer with the realisation that there were for sure, less buyers, and unless vendors were more flexible, clients would go elsewhere. This manifested itself in price reductions and vendors more likely to consider offers.

“The last quarter of 2009 saw sales and interest returning, especially with Italy being considered a safer investment than many other markets around the world.”

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