The romance of Italy lures Brits: BELLA ITALIA

For many years now, Tuscany has been a favorite of many British expatriates who are looking to purchase real estate in Italy. Many are looking for country houses and rustic farm houses in the Lucca, Florence and Siena triangle. But due to the high demand and the availability of low cost flights to Pisa, these places are becoming expensive choices.

For a cheaper alternative, house hunters are looking at neighboring Umbria, although prices there have also shot up in recent years. Their popularity with tourists makes Umbria’s holiday rental market strong. A three-bedroom property can start at £400,000. Le Marche, known as the ‘new Tuscany and Umbria’, is said to be the next big thing in the property market in spite of the fact that the region is still not an established tourist destination. This Italian pride is situated between the Adriatic Sea and the Apennine Mountains. The enchanting rural area with its unique landscape is home to olive groves, medieval towns, rolling hills, snow-capped mountains and long sandy beaches. Residents and visitors will also enjoy the cultural and culinary delights and a wealth of art and architecture within its borders.

The average price for a two-bedroom property in the Le Marche area is £128,333. A two-bedroom house in need of restoration can be purchased for as low as £40,000. “The Italian Lakes, Tuscany and the Amalfi coast have long caught the eye of discerning UK buyers; but bargain hunters are now sniffing around Calabria in the south of Italy – encouraged by improving roads, and cheap flights to Lamezia. This is a glorious region even though the property market is less developed and prices are low”, says Sarah Child, property agent of Each Property. “Remote and rugged, Calabria forms the ‘toe’ of the Italian peninsula. A world away from the Baroque churches, lavish art galleries and gently rolling hills of ‘traditional’ Italy, the region offers a very different experience. Undiscovered by tourists until relatively recently, Calabria has successfully retained a real sense of ’southern’ authenticity and over the years has made little concession to modernity. Calabria is mostly an agricultural region with very little industry.”

Calabria is fairly new in the mass market radar of northern European holiday home buyers and overseas property investors, so there are still some real opportunities to find a fantastic property at a great price. According to Child, £40,000 to £60,000 in Calabria will buy you a two bedroom beachfront property.

Southern Italy is another option for property hunters looking for real estate value. Prices are substantially lower than those in Tuscany. The beaches in Chia and Villasimius are more pristine and untouched. In the south, the Italian government offers a generous series of tax breaks and subsidies for those who invest in undeveloped areas. “Each year the higher property prices in the north of Italy migrate further south as property investors seek out value for money”, shares Child.

Posted on: Italy

News by country

The romance of Italy lures Brits: BELLA ITALIA

Related articles

Recent Posts

News archive