Reasons to Support Buying Calabria Property Sooner Rather than Later

Currently, there are two factors that are making overseas property investment in Calabria property less bright than it used to be:

1. The British Pound is currently very weak against the Euro, which means that Calabria property looks more expensive that it did in 2006.
2. British people are staying at home for their holidays, both because of the weak Pound, but also because of the recession.

However, if you look at it a different way, these are actually reasons to support buying Calabria property sooner rather than later.

Firstly: The fact that Brits are staying at home now is not a reflection on their reduced desire to go abroad, simply on their reduced ability to afford it. This means that when the UK economy recovers, which will cause a recovery in Sterling’s value also, there will be a surge in British tourism abroad. Calabria will be a favourite destination to avoid overcrowded beaches. This will be happening sooner than you might think; there are clear signs that the UK recovery is already underway. see: http://www.write-about-property.com/articles/?tag=uk+economy.

Secondly: Sterling can only go up from here, and so the fact that it is currently weak doesn’t make any difference to an off plan purchase. Off plan property is bought with stage payments, so the first one might cost you more because of a weak Pound, but as Sterling strengthens you will still benefit. Currently most Calabria property for sale is off plan.

And finally: there is currently some opportunities to buy off plan property in Calabria fairly cheaply, including apartments in Calabria for under 50,000 Euros. These will not always be off plan and will be a lot more expensive when completed.

Calabrian Economy to Benefit from Government Stimulus

The Italian government has earmarked 4million Euros to boost the Sicilian economy, which has been badly affected by the global downturn. The Inter-ministerial Committee for Economic planning (CIPE) has authorised the release of the funds today.

This in itself will be of benefit to the Calabrian economy as well, because of the various links between the two regions, and the likelihood that some of the money flowing round the Sicilian economy will be spent in Calabria.

We can also hope that some of the money will be used to increase tourism to Sicily, again which would indirectly benefit Calabria; possibly people wishing to visit Sicily may stay in Calabrian rental properties, and will almost certainly visit Calabria's sites and beauty.

The 4million is the start of a concentrated campaign to regenerate the various economies of Italy's various regions. The plan is to be unwound after the government's summer recess at which point Calabria will also possibly receive its own stimulus package -- most likely in the form of a bundle of cash.