Why it’s time to buy into Italy’s property market

Italy's commercial property market is posing an acute investment opportunity, one fund manager told CNBC. But you'll need to hurry up as the chance for returns looks set to disappear by the end of the year.

Joel Wells, a portfolio manager at Alpine Funds — a New York asset manager with $4 billion under management — said property market conditions in Italy were mirroring those seen in Spain and Ireland after the global financial crisis: where rental prices troughed, asset yields dropped and credit dried up.

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