Southern Italy is becoming increasingly popular

Overseas buyers could find good value for money in stunning surroundings in the south of Italy, a newspaper has revealed.

The Sunday Times pointed out that while the region has a reputation for good beaches, excellent food and guaranteed sunshine; it also has plenty to offer to those with a smaller budget. Expats looking for a holiday home to retire may wish to consider buying in Southern Italy to take advantage of the low prices available in the country.

A local estate agent told The Sunday Times that buyers prepared to look off the beaten track and said that it offers far more affordable property values than the other parts of the country. Flats in town centers are available for £160,000 but for the same amount of money, investors could get two renovated homes in southern Italy.

Gabriele Giambrone, of Italian legal firm Giambrone & Law has commented that Southern regions of Italy are fast becoming the new Algarve of the Mediterranean. The publication suggested overseas property buyers to take advantage of the current low and to snap up a home while it is at a bargain price. Furthermore, the recent changes to the tax regime and potential for capital growth means such a purchase could prove to be highly lucrative.

Meanwhile, the Calabria province in south of Italy is rated to be the most popular location with foreign property buyers by independent analysts at Amberlamb.