For many years the Italians from the northern cities of Milan , Florence and Rome have been trooping down to Calabria for their holidays. They call it the “real Italian Riviera” and love it for its unspoilt character, good value for money, 800 kilometres of beaches and crystal blue sea. The costal towns have a distinctive charm about them and can only benefit from the 1.2 billion euro in which the Italian government and the EU is investing in improving roads and infrastructure. “You can see Calabria growing by the day,” says Harry Fitzsimons, CEO of VFI Overseas Property. And land prices are growing too. “I bought the first plot of land 18 months ago and prices have gone up since by 25 to 35 per cent.
The local government is also determined to ensure that Calabria does not go the way of the Costa del Sol or the Algarve . Regulations prohibit building within 300 metres of the beach however Jewel of the Sea has a plot that is right on the beach, probably one of the last remaining developments in a location like this. This was possible because the site had received planning permission in the early 1990s. Local government has also stipulated that a development has to be low density and low rise. There is also a good Italian rental market and with tour operators such as Thomas Cook and Club Med now operating there, the developers suggest that a two bed roomed apartment could achieve around €1000 a week in the high season. “We reckon that if someone had a 70 per cent mortgage on their property, they need only let it for 12 weeks of the year to cover the costs,” says Antonio Velardo of VFI.
VFI Overseas Developers
VFI Overseas Developers are an Irish/Italian Development company. In this project the best kept Italian secret has been exposed in the most exciting new emerging market with massive potential for capital appreciation.
Most emerging markets however, do not have the same security and infrastructure that this Major European country offers.
The biggest dream an investor could have is to find a developed country where prices are still low, and still has all the protections, infrastructures etc. of modern Europe in place. Now is the time to live that dream in the most beautiful part of Italy from as little as €75,000 for one bed apartments.
Reggio De Calabria is the regional capital. A University city overlooking the straits of Messina where hydrofoils and ferries cross to Sicily every fifteen minutes. The city is a transport hub with an international airport and main Railway line up through Naples to Rome through panoramic landscapes.
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