Article by: Mike Dunkerley mike.dunkerley@thegpg.com Published: 30/01/2009

Calabria, Italy property for sale - Calabria Be there First... it will become very popular!

Where is Calabria?

Calabria is the southern most province on the Italian mainland. It is the 'toe' that points towards Sicily across the Straights of Messina.

How to get to Calabria

There are two main airports in Calabria province. One is at Reggio di Calabria which is on the Straights of Messina. The other is on the west coast and to the north at Lamezia Terme (which is also the administrative capital of the region).

One well known budget airline has just started flying directly into Lamezia Terme. Alternatively many airlines fly to Milan or Rome with connecting flights to both Reggio and Lamezia.

Transit time by car to the locations in and around Bianco is approximately 1 hour 15 mins. Bianco is located on the east coast, on the Ionian Sea.

Well kept secrets

Calabria is an unspoilt and beautiful part of Italy. It has good rainfall and a rich flora and fauna. The beaches are of white sand. Inland the mountainous spine of the region is one large national park, one of the largest in Europe. Its location at the centre of the Mediterranean shipping lanes has made it an attractive location for many peoples. Over the centuries it has been home to Greeks, Romans and many other civilisations. These have left their mark in architectural ruins and ancient hill top villages.

Undiscovered Overseas Property Investment Potential

Calabria is mostly an agricultural region with very little industry. Incomes and prices have lagged well behind those in the industrialised north. 'Early Bird' holiday makers and investors have recognised that prosperity is slowly moving south. Prices still have a long way to go before they come close to matching Tuscany.

The local and regional authorities recognise the potential that tourism and holiday home ownership has to push the region's economy forward. The developments below are the first of their kind to be authorised.

Incoming Investment

Compared to the north of the country the area has not had much benefit from either public or private investment. However, this is about to change. The largest bridge in Europe is going to be built joining Sicily to the mainland an investment of billions of euros. Motorways are planned to replace the local road infrastructure to link the seaside towns to the national network and the airports.

At present there is a single track, little used railway that runs along the entire length of the coast usually between the beach and the coastal road. The new road network is designed to replace this and it is scheduled to be dismantled.

Prices and Location of the Properties

Because the area is undeveloped beach front locations are still available. All four early bird developments are beach front and inexpensive.

Bella Calabria

These are the only ones actually built and available for immediate occupation. 2 bed 1bath apartments in low rise blocks.

Walk out of the apartment straight onto your own private beach!

Located ten minutes drive out of town.

Ground floor 52 sq mtrs + 18 sq mtr terrace £68,897 plus legals etc.

First floor 54 sq mtrs + 24 sq mtr terrace £73,034 plus legals etc.

Residential Chiara

A development of 6 blocks of 8 apartments, 2 bed and 1 bath each.

About 50 mtrs to the beach through a protected grove of trees.

3 minutes walk to the town and all its amenities.

Off plan available June 2007.

Ground floor 64 sq mtrs £71,552 plus legals etc.

Upper floors 64 sq mtrs + 26 sq mtr terrace £75,862 plus legals etc.

Apartamenti San Rocco

A development 33 apartments, 2 bed 1 bath, in the style of a sister development (approximately 5 years old) which offers show home viewing.

About 75 mtrs from the beach across a quiet promenade. 3 minutes walk into town.

Off plan available June 2007.

Sizes vary between 64 and 83 sq mtrs.

Prices vary between £61,800 and £80,138. plus legals etc.

There is 1 3 bed apartment of 89 sq mtrs at £86,000

Residencial Bella Vista

A mixed development of 6 townhouses and 2 one bed apartments.

About 25 mtrs from the beach.

Approximately 5 minutes drive from the town.

Off plan available June 2007.

1 bed apartments, 100 sq mtrs, price £83,000

2 bed, 2 bath Townhouses, between 100 and 140 sq mtrs, prices between £83,000 and £114,000 plus legals, etc.

Overseas Property Rental Potential

The area is popular with people from northern Italy and also with Germans and Scandinavians who have discovered its natural beauty and reasonable prices. During the holiday season there is already strong demand for rental property. Investors need to be aware that the rental market is developing and the lucrative UK market is virtually untouched.

As awareness of the area increases and availability of holiday rental property increases (further increasing awareness and visitor numbers) there should be strong growth in high season rental demand.

Low season rental demand is also likely to increase as facilities are improved and more of the new property owners start to use and promote the area and their property in the low season.

Conclusion

The area stands to benefit from massive inwards investment in its infra structure. Each year the higher property prices in the north of Italy migrate further south as property investors seek out value for money. This area has the right location and climate, it is getting the right infrastructure investment, it just needs additional publicity and the holiday home buyers and overseas property investors to discover it and the prices will increase strongly.

This is a chance to get there before the professionals and own an overseas property that could turn out to be an excellent investment.

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The author Mike Dunkerley is a Regional Director for The Global Property Group limited. He has recently returned from a fact finding trip to Calabria.

For further information on this article or purchasing overseas property in Italy please contact mike.dunkerley@thegpg.com.

Republished 2009.

External Article Link: http://www.thegpg.com/overseas-property-news/property-news.cfm?id=6

Article Link: http://www.thegpg.com/overseas-property-news/property-news.cfm?id=6

Please contact the author at mike.dunkerley@thegpg.com for more information.