MILAN (Reuters) - The wealthy coastal town of Portofino will become the first place in Italy to name a street after the late prime minister Silvio Berlusconi, who died in June, after local authorities fast tracked approval.

In Italy, 10 years must normally pass after a death before anyone gets such an honour but in this case an exception was applied as Berlusconi was judged to be one of those "people who have particularly served the nation", regional newspaper Il Secolo XIX reported on Thursday.

The street is set to be renamed on Oct. 14, a couple of weeks after what would have been the billionaire Berlusconi's 87th birthday.

"A small ceremony will be held, in agreement with the family and in particular with fellow local citizen Pier Silvio (Berlusconi)", Portofino mayor Matteo Viacava told Il Secolo XIX.

Pier Silvio Berlusconi, who heads the family TV business MFE-MediaForEurope, has a villa in the town.

The street chosen is a pedestrian one where Berlusconi used to walk when he visited his own villa in the town, a property which is now owned by fashion group Dolce & Gabbana.

(Reporting by Alessia Pe, writing by Keith Weir, editing by Alvise Armellini)