The Italian property market is set for a 2010 recovery according to Italian property portal REPlat. The firm said that the main factor to drive this recovery was the fact that vendor realism finally began to increase in the third quarter.
“This decrease is the basis for market recovery, which we expect to take place towards the end of 2010,” says REplat president Vincenzo Vivo.
The REplat index also said that supply had decreased slightly, while demand increased, two very useful trends if a property market is to recover.
Italian property is also likely to benefit from increasing demand from overseas buyers, especially British, on the back of a recovery in UK consumer confidence triggering increased spending, and increased appetite for overseas property acquisitions.
The Calabria property market will benefit massively from this increase in demand from overseas buyers, especially because they are doing their research a lot more carefully than during the boom years.
This is because everything points to Calabria property prices seeing some very solid growth in the next few years. But more importantly than that, today's buyer is predominantly the holiday home buyer hoping to cover some of the cost by renting the property out. Calabria property is perfect for this:
A coastal region surrounded by sea on three sides, you are never very far from the beach in Calabria, as such it is increasingly popular with tourists from within Italy and around the world. There is a shortage of hotel rooms or commercial entities to house the increasing visitor numbers. This means that rental yields are almost certain to increase from the current 4-6% to 6-8% in the next 5 years.
A look at the Calabria property for sale currently tells you that the number of properties coming onto the market has been kept under control, which will ensure demand will continue to meet or outstrip demand. It will also tell you that the Calabrian property market has remained healthy, and developers have not had to cancel projects.
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