Calabria has been named as one of the world's top emerging coastal regions by sector specialists Write About Property. Citing its location and the low prices of property Liam Bailey wrote:
Again Calabria is one of the favourites because of the low priced property and its location. Calabria is a region spanning the south-west of Italy, the heel of the boot. It is surrounded by ocean on three sides, and slopes upward as you go inland. This means that the further you get from the coast the more impressive the view of the coast.
Calabrian property is currently available at a fraction of the cost of Italy's long-popular regions, and is one of (if not) the cheapest place to buy beach property in Italy. It is currently rising in popularity as a tourist destination. At the current occupancy levels 4-6% yields are possible, and these will improve as occupancy rises. Capital appreciation will be 15-20% until prices catch-up with the rest of Italy, and the will slow to the established market average of 8-10%.
I concur with the article, however I would have mentioned that most (if not all) of the properties available to overseas buyers are off plan. Not that this is a problem, but it does mean that you will be looking 2010 being the occupancy year. This could be viewed as a benefit, because tourism has took a knock from the international downturn this year, and next year will be during the recovery.
Another benefit of most of the properties being off plan is the potential that you could get a property that is completed or nearly complete at the discounted price it was offered at off plan. For this type of bargain though, the time to act is now.
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