Things are really looking up for the overseas property industry at the moment, with reports of increased activity throughout Europe, on the back of Sterling's improving exchange rate against the Euro (Brits and Irish are the biggest buyers of overseas property.
Among the biggest benefactors of this increasing activity is the Calabria property market. Calabria property began seeing increased interest from overseas property buyers and investors in the second half of 2007 and into the middle of 2008. However its growth potential was severely stunted by the onset of the international economic misery.
None the less Calabria property developments continued to be built, and you can now get some real bargains on almost completed properties at off plan prices.
What's more all the same draws are still in place; Calabria property is still cheap, it is still underdeveloped and most likely to stay that way, and it is still set to see massive growth in tourism which will grow rental yields from their current 4-6% to 6-8% over the next 5 years from 2010 onwards.
Tam Stanley of Calabrian-Property.com is not surprised to see Calabria property picking back up where it left off now that the Brits are out there and buying again.
"Calabria offers the safety and stability of being in the established market of Italy, with the low property prices and growth potential you'd expect to find only in the more-risky emerging markets, making it a truly unique investment property. With all it has going for it we always knew that Calabria would be among the first to bounce back," he said.
Calabrian-property.com is a good indicator of the rising interest in Calabrian property; the site has climbed rapidly through the Alexa rankings, and is now ranked the 700,000 most visited site in the world -- a very respectable position for an overseas property agency.
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