Property Investment in Southern Italy, why?
Property investors in Italy are safe in the knowledge that the country ranks as the fifth most popular tourist destination in the world with more than 37 million visitors annually, creating the ideal opportunity for the buy-to-let investor. The irresistible combination of stunning countryside and stylish cities make Italy a favorite with tourists and property investors.
Italy’s Emerging Markets
Any property investor cannot fail to be impressed by the fact that the perennially popular cities of Milan and Rome are included in the “Top 50 Most Expensive Cities in the World” by Mercer Human Resource Consulting. In addition, the Calabria region in southern Italy and its neighbor, the island of Sicily, are growing in popularity as holiday destinations and are now considered strong emerging markets for the overseas property investor. Both areas have seen a significant rise in tourist and business numbers as accessibility to the region has improved. Confidence in these areas is high and the European Union’s Structural Fund has pledged €7.5 billion as investment in Southern Italy and Sicily during the period 2007 to 2013.
Italy’s Property Prices
Traditionally, the north of Italy has been popular with property investors, but now property in Southern Italy and Sicily is beginning to attract serious investor interest. Prices remain relatively low indicating promising potential markets for the international property investor. Calabria in particular is increasing in popularity and annual capital appreciation forecasts for the southern regions of Italy are between 15% and 20% for the next 5 years. Sicily is one of the last under-developed Mediterranean Islands in terms of tourism and property investment and so prices remain highly competitive.
High Rental Yields
Property investors in Italy can be assured of high anticipated rental yields in the emerging region of Southern Italy. There is substantial domestic demand in addition to growing numbers of foreign tourists – the perfect combination for the international property investor in Italy.
Properties for sale in Calabria Italy: