August 10, 2007
Property NewsBudget Italian property buys on the south coast
Italian properties are now more affordable. In the southern province of Calabria, several Italian properties are for sale for as low £44,000. These properties are marketed by overseas home specialist, International Property Link.
Calabria is still somehow untouched by tourism and modernism. Italian heritage and culture are still intact in the agricultural region with quaint villages and an almost isolated and pristine coastline.
The Marinella development sits in the town of Vibo Valentia. The apartments come with two bedrooms, two bathrooms and a communal swimming pool. 400 metres from the beach and 25 minutes from the airport, Marinella is close to Lamezia Terma city centre. The development is also close to several shops and pizzerias. Prices start from £60,000 with deposits from £21,000.
The Franca Villa development offers something more traditional. Situated on the Vibo Valentia hillside, it will be made of traditional stone brick. One- and two-bedroom apartments will be marketed with panoramic views of the sea and countryside. The development also comes with a car park and on-site golf style buggies for owners to get around the resort. Other facilities and amenities include tennis courts, a swimming pool and an on-site restaurant. The town of Pizzo is only 15 minutes away from the development. Franca Villa will appeal to investors looking for rental yield. Prices start at £44,000 for a one-bedroom apartment.
Budget airlines are seen as the main cause of the development of the Italian property rental market. Ryanair flights from Stansted to Lamezia are currently being subsidized by the Calabrian government to promote the area and improve tourism.
“The properties available in Italy are actually less expensive than many properties in Morocco, which is unbelievable,” says Steve Burns, IPL’s marketing manager. “Of course, Italy has the benefit of being part of the EU and direct flights too. Southern Italy is an economy waiting to boom!”
Posted on: Italy
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