Investing In Italy

What the costas are now; Calabria will be tomorrow

Let’s Live Abroad! are used to meeting the needs of clients who are seeking - not just a home in the sun - but also an investment: A property that gives a financial return, if not through a rental income, by an increase in value. Good old property speculation! For this: Reggio di Calabria in southern Italy is perfect.

Dorothy and Don, from Fife in Scotland bought property in Calabria, Italy through Let’s Live Abroad! As clients, they spotted a good investment opportunity in this new and growing trend – buying in southern Italy - and knew how to move quickly to take advantage of it.

Dorothy and Don meeting the consultants

Of course, Calabria in Italy is more than just a new trend and is certainly not just flavour of the month. Some countries enjoy a high but fleeting profile in the press. Here today and gone tomorrow. Promoters ignore the fact the country might be going through massive political changes with infrequent and expensive flights in their eagerness to herald them as the place to property. The place to buy is in countries that are economically and politically stable. The other important factor is, of course, accessibility. Check flights! Not just if there are any, but how frequent and more importantly: how much it costs! Calabria might seem to fall at this hurdle, but this is where the speculators are moving in. Flashback: 2000 when Spanish buyers flying to Alicante in Spain from most regional airports and Scotland had to connect via Stansted or Gatwick. Apartments could be picked up from around £40,000 in those days and look at them now… More than double the price! As the area of Calabria opens up; so too will the demand for more frequent flights to the region's airport at Lemezia. Already there are direct flights from the UK, not just from Stansted, but more recently, from Manchester. Another way to get there is to fly in to Rome or Naples and take the train. Hugging the west coast, the journey takes approximately five hours taking in some fantastic views.

The coast of Reggio di Calabria

Quite apart from the building of new homes, the other indication that Calabria in southern Italy is not going to be just some flavour of the month is how central it is to Europe and the amount of investment that is going on in the area. Medsea plc, an established, regulated and respected agency has already opened offices here.

Offices of Medsea plc are in Roccella Jonica

Make no mistake about it; Calabria is beautiful; a peninsula that stretches out between the Ionian and Tyrrenhian Seas, enjoying a raw, natural beauty that easily trades rocky mountain villages with soft, sandy beaches. But where are all the other northern Europeans seeking their place in the sun? Good question. The answer is simple: They just aren’t here. Yet! But they will be.

Siderno

For those looking to buy property in Calabria, it can be encouraging to see so few developments, but there is a downside to this. It can indicate a lack of infrastructure. Things you might take for granted in places where Brits have been buying property for some time aren’t so readily available. English-speaking doctors, or consultants in hospitals; English-speaking businesses; a ready understanding of the needs of ex-pats in local services; an acceptance of English as a widely-spoken second language and the chances that you or visiting friends and family will be easily understood in local shops, restaurants and public places.

Isca Dream, Calabria

When you are on an Inspection Tour in Italy, remember you might be looking at properties that are in various states of construction, so be fully prepared, and wear sensible shoes and clothing.

Isca Dream

It may not look so attractive now, but you need to use your imagination. Isca Dream is a new development, hidden amongst the olive trees. A luxury gated community of townhouses in the town of Isca Marina which becomes a lively place in summer when Italians from northern cities like Rome, Florence and Milan head south for their holidays. 30 or 40 minutes from Lamezia Terme airport, there is a new seafront (lungomare) being built in Isca Marina and there is a bar and restaurant on the beach.

Shipwreck at Isca Marina

Nearby is the small town of Isca Sullo Ionia, perched on the mountain slopes. Isca is only five minutes away from the bigger coastal resort of Soverato which has hospitals, schools, shops and a nightlife that is well known in the area for hosting such venues as Gange, Café Solaire and Marinella’s.

Isca Dream - a mere twinkle in the builder's eye!

On their trip in 2007, Dorothy and Don visited Isca Dream and purchased a townhouse. Amongst the two-bedroom terraced townhouses being built, there will be a swimming pool in 600m2 of landscaped gardens. In each property there is a staircase that leads to a landing with two bedrooms off and a terrace to sit and enjoy the sun. The properties all have private gardens and off-street parking. Dependant on position, the gardens range from 30m2 to 38m2 with terraces from 13m2 to 15m2.

Dorothy and Don are not only looking to the future when their investment will realise its value, but to a time when they can venture out and enjoy it. (Not something you can do so readily with a share portfolio or an ISA!) Clients who go out to purchase property have a clear choice to make here in the Italian sunshine: Do we put our money in a bank vault or Isca Dream? Ask Dorothy!

Dorothy surveying her future investment

If you would like some more details of property in Calabria or you would also like to take a tour of the region with the intention of buying directly through Medsea plc, a properly regulated agency that will offer you guarantees with your purchase, call Let's Live Abroad! on 0845 22 55 777.

A few months later... (Spring 2007)

Let's get started! (Spring 2007)

The interesting curved wooden ceilings inside

And by the summer of 2007. (Yes, they had one!)

Time to start packing, eh, Dorothy?

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Investing In Italy