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Posted On: 23/08/2009
Calabria was recently voted one of the top 5 emerging coastal regions in the world, by property publication Write About Property. The reasons cited were the low prices of property, especially the bargains you can find close to the beach, and also the growing tourism sector.
But Azure Overseas have also highlighted Calabria as one of the most overlooked coastal paradises in Europe. Azure director Frank Crowley said:
"Calabria has a great Mediterranean climate and some of the best beaches in Italy, yet you can still buy a 1 bedroom beach-front apartment off plan in a five star resort for under £50,000 -- in Italy that is fantastic value for money."
The good thing about Calabria is that it slopes upwards on a gentle incline as you head inland, which means that even the properties further back from the sea have fantastic views out over the ocean.
"The unique thing about Calabria is that it offers the safety, and potential for foreigners to obtain mortgages that comes from its being an established EU market, but with property at the kind of prices you expect to find in a risk-filled emerging market. An emerging market within an established market if you like," added Frank.
In the Write About Property article they identified the fact that overseas buyers are currently being presented with off plan properties in the main, with completion dates in around 2 years, which will coincide with the rental market having matured giving the possibility of 6% net rental yields on the newly completed properties.
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