Italy approves new housing bill

After Monday's vote of confidence for Italy's government, the Chamber of Deputies on Tuesday approved the country's new housing bill with 277 votes in favour and 92 votes against. The new law lays out emergency provisions for the housing crisis, the construction market and Expo 2015.

More resources will be earmarked for rentals through a national rental property fund and a special fund for innocent rent defaulters.

The flat rate tax for fixed-term tenancies will be reduced to 10 percent and tax reliefs will be available to purchase furniture and for lower-income families who have to rent a home.