Ian Hunter
The Director of Parson International
MNAEA (Overseas)
Former Member of the Directors` Board FOPDAC
Expert of the real estate. The author of the article.
Traveled all over the South of Italy in recent years, I was a direct witness of the fact how quickly these places were chosen by tourists and people who bought property here.
A positive moment for future investors in this little developed part of southern Europe is that for a variety of reasons, this area still offers excellent opportunities for investing in real estate.
Why is Calabria still a great place for monetary investments? Let's start with the fact that the economic climate in Southern Italy is much more stable than in other Mediterranean countries. Confirmation of this can be an annual contribution to the real estate, which is 700 million Euros a year - at present the total amount is 1.2 billion Euros. These cash injections into the country were the creation of new roads, marinas, modernization of airports, but from the point of view of the culture - the opening of new universities.
Moreover, we should take into consideration the fact that the demand for real estate investments exceeds the supply, in 2010 there was a lack of land areas for constructions, so you have the opportunity to get more money from property rental, as well as to make a good contribution to the real estate.
You should take into consideration the fact that, despite the relaxed atmosphere of the Southern Mediterranean, Italy is a member of the European Union, and for this reason the construction industry is clearly settled, strict rules of the buyer`s rights protection are issued through appropriate guarantees, in accordance with Italian law.
Calabria never be overdeveloped, because there are strict laws regarding the environment, for example, there is a statement of exceedance of the height of construction by law.
This is a structure that helps to predict the figures for real estate appraisal, which will increase by 25-30% over the next 5 years. In all of this, there is no property tax (to be paid only for the first five years from the date of purchase of real estate), and there is no tax on inheritance.
In other words, all the key elements supporting the extension of region's recovery and its investment, is obvious. The current situation with a high inflation opens up fantastic opportunities to invest in real estate that is supported by five years in the following five years that are tax free.
Italians from the North come to Calabria for the holidays, but today this region for various reasons attracts more and more "understanding" people.
Source: http://italy.realtyeuro.ru/content/view/52/