It is tempting to buy property in Italy, but with a variety of regions to choose from, it can be confusing. Cradled in the lea of the Alps, northwest Italy offers scenic alpine villages, the northeast may not have sun soaked beaches, but it has its own charm nonetheless, if it’s the olive groves of Tuscany you crave for, then central Italy is clearly for you. But if it is the best kept secret of Italy you’re after, then you want to look at southern Italy.

Calabria is the southernmost ‘toe’ of Italy. Set amidst mountains and beaches, it offers a vast range of property types and prices. The terrain rises up from the coastal regions into rugged mountains, home to quaint and often abandoned villages. While the rest of Italy may be subject to changing rapidly with the times, Calabria seems like a quiet, laid back corner of Italy, still steeped in traditional Italian values, customs and culture. The entire region of Calabria is made up of five provinces, Crotone, Catanzaro, Vibo Valenta, Cosenza and Reggio Calabria.

Property in Calabria is highly sought after today as more and more developers are concentrating on the area. From apartments to villas, buyers can choose from a range of property types. Property rates here, while steadily on the rise, tend to be lower than in northern Italy. What you get in return is a piece of unspoiled and virginal Italy, making property in Calabria the best bet for investors as it offers exceptional value for money.

The region has been known as the poor cousin of the north, but large amounts of funding is now becoming available for the development of this region; both from home sources as well from the European Union. The plan is to bring Calabria on a par with the northern parts of Italy in terms of tourism and infrastructure, while preserving its natural and cultural heritage.

Tourism is picking up very fast in the area, several marvellous resorts and hotels can be found on the coastlines of Calabria, which are famous for their virginal beauty. Buying in a property in Calabria to rent it out to tourists is a popular choice among investors. While the property can be used as a second home, it can also generate an income when not being lived in!

Over the last two years, a massive flow of European buyers has been witnessed in the property market in Calabria. There are a number of reasons for this. Property rates in this region are still lower compared to other regions of Italy or other popular destinations in the EU. There are no restrictions on owning property here for EU members. There are also several tax benefits to buying in Calabria. For example, capital gains tax is not incurred if the property is sold after 5 years from buying. Inheritance tax was abolished from Italy in 2001, which means the property can be left behind for the family without incurring Wealth Tax.

Many buyers investing in a property in Calabria do so with a mortgage. Non resident mortgages are available from many Italian high street financial institutions.
 

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