Overseas investors who purchase property in Italy could be able to enjoy various financial benefits, according to one industry specialist.

Eddie Crompton, director of RealPoint Property has stated that Property in Italy has always had a lot to recommend it. Culture, the healthy Mediterranean diet and the good weather are its main attractions; Now Italy also offers perks such as a favourable tax regime.

The financial incentives for property investors in Italy have increased in recent years particularly for the older generation. Property investors are exempted from paying capital gains tax after five years, while any assets that are bequeathed to direct relations are also not taxed. Inheritance tax was abolished in Italy in October 2001. Industry analysts believe that more government reforms could make an Italian investment highly lucrative in the future.

Mr Crompton explained that since the law changed in terms of the inheritance tax, it’s become a lot more attractive financial proposition. He said that "if you’re not penalized to hand down the property to your children, you start planning for these things at a certain age".

Foreign Property Buyer has reported that Prime Minister Silvio Berlusconi has pledged to cut the main property tax in Italy. The website believes that this could have radical impact in the Italian property market pushing up prices in prime areas. Therefore, property investors could get good returns within a relatively short period of time.

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Improvements to the transport network are likely to make property investment in Italy more attractive to buyers, according to experts.

Mauro Moretti, CEO of Ferrovie dello Stato (FS), the state-owned company that runs Italy's railway system, is set to launch a tender offer worth over 1 billion euros for trains to run on its high-speed rail network. Moretti has stated that the tender for about 50 trains will be launched in July or September. The Milan and Bologna high-speed train link will open on December 14 this year while the Milan-Rome link will be ready in December 2009.

The rail links will be fully integrated into the existing transport infrastructure and this ensures that visitors to Italy can enjoy swift connections between strategic locations and reduce journey times between these locations and potentially make places along the line more desirable places to live. Property experts believe that as a result of the new train services many places along the various routes will become more desirable as a result. This means that house prices tend to rise in areas that are made more easily accessible.

Property expert Mr. Jervis has said that for time-starved commuters proximity to public transportation links is highly desirable and boosts house prices in the immediate area significantly.

Mr. Moretti further added that the government plans to run trains every 15 minutes once the Milan-Rome link is ready and already 50 billion euros have been invested in building Italy's high-speed train network. The improved accessibility could prove attractive to tourists and overseas property investors. The new rail links are expected to broaden the range of travel options available to consumers.

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Overseas property buyers who are looking for permanent residency in a non-English speaking nation are advised to learn the local language. Italy has been recommended as a good destination for those who wish to set up second home or to spend their retirement overseas.

ShelterOffshore.com has reported that Italy offers a number of attractions including culture, "amazing" climate, affordable living costs and no visa restrictions. Italy is said to offer a lifestyle to suit different types of people, as expats can be as unperturbed or as fast-paced as they choose.

The website further stated that foreigners who are working in Italy should have a basic grounding of the native tongue. The familiarity with the language could help expats earn the respect of their Italian counterparts. The website said knowing a few key phrases, finding more out about local traditions and cultural requirements would enable foreigners to incorporate and intermingle with local people.

Expatriates are encouraged to observe what is expected of them to make the Italian venture to be a stress free move.

This comes after Paul Collins of BuyAssociation has recently stated that the number of enquiries it has received from prospective expats has increased by seven per cent in 2007.

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Overseas investors have been urged to research Italian market before committing to a purchase and they should consider a range of options.

Mark Slaviero, director of Homes in Italy has said that the Italian buy-to-let market tend to be more seasonal. He advised purchasers to think on a smaller scale like renting property for a short-term basis over the summer for, on average, 15 weeks and the possibility of marketing it as a short term-winter let is also available.

The demand as a rental commodity and rental returns of the property depends on the area they have invested. Foreign investors really need to research their destination carefully before purchasing property. Rhiannon Williamson, director of independent property publication Amberlamb has said that cheaper properties doesn't mean it will be a good idea to buy a property in a country and investors are needed to do more research into the fundamentals driving a country's property market.

Mark Slaviero pointed out that Lake Como and Tuscany are areas with high rental returns and also had higher property prices and that some investors might want to compromise by looking at emerging tourist hotspots such as Puglia. Currency specialist HiFX has stated that overseas property investors are increasingly buying rental accommodation in Italian ski resorts.

The Earth Times said that the Italian tourist board spent about £3 million for promoting tourism in Italy last year. Moreover, this also means that buy-to-let investors in popular Italian holiday destinations will be seeing higher occupancy rates.

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Residencial Pisani in Calabria is a terrific new property development of 1 and 2 bedroom apartments located in the beautiful Italian town of Calopezzati near to Mandatoriccio Marina on the amazing Ionian Coast.

Mandatoriccio Marina, a tiny cove with crystal clear waters, wild-romantic unspoiled landscapes and spectacular views in the Ionian coast. Mandatoriccio is separated between a hill town and a coastal town. The ecological resources of the Ionian coast in Mandatoriccio have become popular with Italian and European tourists.

These apartments are bright and airy, an entrance door leading to a living/dining area, kitchenette and a bathroom with shower. A very well equipped kitchen with dining table plus there will be pre-installation of air-conditioning. The apartment is furnished with love for detail using the highest quality materials.

The complex is situated nearby Cariati Marina which has a 6 mile sea wall dotted by restaurants, bars and shopping centers. The airport at Crotone can be reached within a 45 minutes drive from Cariati Marina. The development is located a short walk from the fabulous beaches ideal for sunbathing and snorkeling and the golf course at Cropani can be reached by car in just over an hour's drive.

Prices:
Mid-floor apartments:
1 bedroom 1 bathroom 43m2 – 57,450€
1 bed 1 bath 57m2 – 72,150€

Top Floor Apartments:
1 bed 1 bath 43m2 – 59,150€
1 bed 1 bath 57m2 – 72,350€

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Overseas property investors have been recommended to consider purchasing a residence in Italy.

Edward Crompton, managing director of Real Point Property has said that Italian properties are more affordable option to the shrewd overseas investors than properties in the better established markets of France and Spain.

Property investors who are still interested in purchasing in the country are keen to buy a house of the highest quality. The Italian government had implemented new laws to prevent the country becoming overdeveloped, developments are substantially limited by planning constraints and therefore preserving the factors that attract tourists and drive the property market.

Linda Travella, broadcaster and founder of Casa Travella has stated that the Italian market is "thriving" because it offers a large number of benefits to overseas investors. She said that Italy is considered as a steadier and reliable investment option than other European markets and it is an easily accessible destination from mainland Europe. Ms Travella also said that Italy's good infrastructure and modern amenities combined with heritage and culture makes it a better investment than emerging markets.

Consequently, Italy is the Mediterranean's best kept secret; rich in history and culture it is no surprise that Italy has stepped up a gear now and it is dynamically bridging the gap between old and new.

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The Calabria province has become the best emerging market in Italy due to its cheap property prices and booming tourism. The great news for property investors are luxurious apartments in a Calabrian coastal town starts from only £52,000.

Residencial Amusa is in Caulonia Marina and offer good rental potential because it is located just 10 minutes from one of the finest beaches on the Ionian coast. Caulonia is located between two rivers, facing the Ionian Sea. The spectacular scenery surrounding the town has made Caulonia a popular spot. The town boasts Norman castle, Byzantine frescos, and attractive architecture.

The luxurious Apartment comprises of lounge/dining area with American style fitted kitchen, tiled bathroom with fitted wardrobes. The development is situated close to restaurants, bars, shops and 10 minutes to the sea. The apartments are built to the highest specifications using the highest quality materials.

The Lemezia or Reggio Di Calabri, are situated both an hour drive away from the developments. Lamezia Terme Airport is reachable by direct flights from many European cities and Budget carrier Ryanair flies regular flights from London Stansted to Lamezia Terme airport.

Analysts at the International Property Investment Network, IPIN has predicted recently that Calabria will become one of the most popular investment markets in the Mediterranean.

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