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The rise of Italy's 'Jewel of the Sea'

Jaimie Kanwar

One Italian emerging market is fast becoming an investment hotspot, claims one expert...

Bernardo Retana of the International Property Investment Network, explained: “The region offers a number of attractions to prospective buyers. For example, strict building controls are in effect in Calabria, which means it is likely to retain its natural beauty and avoid becoming overdeveloped.

”This means it is likely to continue attracting both holidaymakers and overseas property buyers. The province has also been widely tipped to become a hotspot for both Italian and foreign investors. Many property professionals believe that Calabria will inevitably become one of the most popular locations for investors over the next five to ten years."

The new Algarve?

Gabriele Giambrone of Italian legal firm Giambrone & Law, agrees: "shrewd investors from the UK are increasingly snapping up houses in areas such as Calabria.  The region as the "new Algarve of the Mediterranean" due to its combination of sound investment conditions and an attractive lifestyle.

"Areas such as Calabria, Puglia and Sicily are attracting a mixture of second home buyers and investors who recognise the opportunities opening up in southern Italy. However, investors from the UK were still continuing to purchase homes in more traditional Italian markets, including Tuscany and Umbria.