Calabria To Become A Property Hotspot - Buying and investing in property abroad in Italy

Calabria To Become A Property Hotspot - Buying and investing in property abroad in Italy: "Calabria To Become A Property Hotspot
Italy’s region of Calabria is tipped to become the next property investment success story."

No More property tax for first house

Bloomberg.com: Europe: "Italian Prime Minister Silvio Berlusconi has abolished a property tax on first homes and unveiled a plan to freeze mortgage payments to try to offset price increases and revive growth. Consumer spending accounts for two thirds of Italy's $2.4 trillion economy."

Calabria properties cheper than Spain

Emerging markets seen as the best option for overseas property investors | Property Forum Watch | News: "The latest figures show that British first time buyers are increasingly looking abroad to buy as they can't afford to buy in the UK. In many articles Calabria, on the toe of Southern Italy is often mentioned as an emerging market, a bargain place to buy as prices are low, living costs are low and there is the opportunity to get in before everyone discovers it.

But as many investors or would-be investors know you can't rely on the marketing blurb. Some concerns are raised on the Channel 4 overseas forum. These centre on Calabria being a 'backwater', having a very small rental season and 'a winter ghost development'. On the plus side prices are 30% cheaper than popular areas like Spain and there are nearby mountains for ski-ing."

Italian property market continues to weather the storm

Quite interesting: Raising the Roof » Properties Blog » International Herald Tribune » Blog Archive » Italian market continues to weather the storm, report says: "Overall, the market in Italy is “cooling,” but it continues to show “modest” growth, according to a newly released report from Cluttons Italy, the property firm. In 2007 valuations increased a slim 4 percent in metropolitan areas, compared to 10 percent growth in 2004, data shows. But Italy didn’t experience the huge run-ups of Spain and the U.K., making a steep drop less likely, Cluttons concludes."