Coast Avoids Damage from Calabria Landslides – One thing that Didn’t Slide is Property Prices

By now most of you will have heard about the devastating landslides that hit Calabria and Sicily in the last few days. Anyone who had been considering buying Calabria property will be glad to hear that the new developments were mostly on the coasts, which has avoided any damage from the landslides.

One thing that didn’t slide in Calabria is property prices. Incredibly enough, despite demand having fallen since the 3rd quarter of 2008, developers and agents have held firm on prices.

This is thought to have been because, while demand dropped, there was still a constant trickle of lifestyle buyers keeping the market going.

Now, as we move into 2010, and demand for overseas property grows around the world; with agents reporting several sales per week in most tourist hotspots including parts of Spain, there is even a likelihood that Calabria property prices may start to rise before the end of the year.

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.