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Italy Real Estate

We offer Italy real estate investment information for Rome, Venice, Savona, Genoa, La Spezia, Naples, SalernoReggio di Calabria, Taranto, Bridisi, Bari, Palermo Messina, Catania, Augusta, Gela and the Island of Sicily. Scroll down for more information about Italy.

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Real Estate In Italy

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About Italy

Italy Population: 58,057,477 (July 2004 est.)
Languages: Italian (official), German (parts of Trentino-Alto Adige region are predominantly German speaking), French (small French-speaking minority in Valle d'Aosta region), Slovene (Slovene-speaking minority in the Trieste-Gorizia area)
Capital: Rome
Government Type: Republic.
Independence Day: 17 March 1861 (Kingdom of Italy proclaimed; Italy was not finally unified until 1870).
Legal System: based on civil law system; appeals treated as new trials; judicial review under certain conditions in Constitutional Court; has not accepted compulsory ICJ jurisdiction.
Currency: euro (EUR)

Executive Branch:

Chief of State: President Carlo Azeglio CIAMPI (since 13 May 1999).

Head of Government: Prime Minister (referred to in Italy as the president of the Council of Ministers) Silvio BERLUSCONI (since 10 June 2001).

American Embassy: Via Vittorio Veneto 119/A, 00187-Rome
Mailing Address: PSC 59, Box 100, APO AE 09624
Telephone: [39] (06) 46741 FAX: [39] (06) 488-2672

General Overview: Italy became a nation-state in 1861 when the city-states of the peninsula, along with Sardinia and Sicily, were united under King Victor EMMANUEL II. An era of parliamentary government came to a close in the early 1920s when Benito MUSSOLINI established a Fascist dictatorship. His disastrous alliance with Nazi Germany led to Italy's defeat in World War II. A democratic republic replaced the monarchy in 1946 and economic revival followed. Italy was a charter member of NATO and the European Economic Community (EEC). It has been at the forefront of European economic and political unification, joining the European Monetary Union in 1999. Persistent problems include illegal immigration, organized crime, corruption, high unemployment, sluggish economic growth, and the low incomes and technical standards of southern Italy compared with the prosperous north.

Economic Overview: Italy has a diversified industrial economy with roughly the same total and per capita output as France and the UK. This capitalistic economy remains divided into a developed industrial north, dominated by private companies, and a less developed, welfare-dependent agricultural south, with 20% unemployment. Most raw materials needed by industry and more than 75% of energy requirements are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and inflation rates. The current government has enacted numerous short-term reforms aimed at improving competitiveness and long-term growth. Italy has moved slowly, however, on implementing needed structural reforms, such as lightening the high tax burden and overhauling Italy's rigid labor market and over-generous pension system, because of the current economic slowdown and opposition from labor unions.

International Disputes: None

Italy Map

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