posted by admin on May 5
is causing a stir amongst property investors. Not just property investors but also holiday second home buyers and those fast emerging hybrids… those who fancy not only a place in the sun but also a sound .
With returns on funds deposited in UK financial institutions dropping to as low as 2% and withprice appreciation estimated to be 12% per anum plus with a 7% conservative annual rental return it’s not hard to see why it’s appealing. It’s not hard to see why investment is referred to as the new Promised land for investors – excellent capital appreciation plus a strong rental return.
The reason for Calabrias emergence is many fold. Calabria has always been a beautiful, interesting and historic region….regardless of the difficulties of passage, Northern Italians have, for many years, made the torturous journey to the south of their country. It’s inexpensive, the weather is great, the 400km of coast line have the best of beaches (the Sunday Times recently voted a Calabrian beach the most popular) in Italy and the the people are warm and welcoming. That’s not to mention the food and wine!
What is now also boosting Calabria appeal and future suceess is that the Italian government elected to spend EU funding on improving the infrastructure and also, very importantly, the transport links to Calabria.
Airports have been upgraded and now take flights from many more locations including direct low cost flights for the UK. Direct UK – Calabria Summer flights increased from 2 days to 4 in 2008, winter 2008/2009 sees the first winter flights and for Summer 2009 direct flights will be running each way 5 days per week on routes so far announced. Calabria is seen very much as Mercia some years ago with limited flights but now accessible from many airports all around the Uk. As this process continues so property prices will continue to rise. When purchasingit is important that a reliable and professional accredited property agent is used and most UK buyers find that a UK based agent is best suited to help. They can ensure that all matters progess in a stress free manner but they are also often able negotiate great terms and conditions, often managing to have certain upgrades and extras included at no extra cost to the purchaser.
With the added investment the Western coast line now boasts the A3 major road, reducing travel time massively in summer. The East coast has a similar road planned for construction over the next 5 yaers built over the next 5 years and it makes this region of particular interest to property investors with it’s abundance of great beaches and lively towns.
Calabria appeals to many UK investors as it is part of an established Western European country and all that means in terms of familiarity, services and culture. It is an emerging market in an established European country… the best of both worlds in many ways.
It’s early days for Calabria still. While 2008 saw many sales to UK buyers most property will not be delivered until 2010 and it is then that real price appreciation is expected.
In the meantime, due to the areas popularity already with holiday makers, the rental returns are excellent. Payments on interest only mortgages available can be covered from the peak summer rental period – leaving the property ‘free’ for the rest of the year.
The time for Calabria is now. This beautiful region has much to offer holiday maker and investor alike.