The World's largest suspension bridge boosts Sicily's property market

Overseas Property Professional (OPP) has recently reported on the new development of a bridge between Sicily and the mainland and the growing demand in the property market on the island. Italian government has assured over €4 billion funding to perk up the state of Italy's transportation network. The originally shelved road-rail bridge plan has been brought back to the forefront.

News agency Reuters reports that Italy’s largest developer Impreglio confirmed the news and the world's largest suspension bridge, built at an estimated cost of over €3 billion is underway. Multi-national Impreglio is heading the consortium of the bridge construction.

Jeremy Smith of Sicilypropertyco.com told OPP that the new government has pledged a lot of money to help Sicily with the suspension bridge. Smith also commented on the demand for property on the island that UK investors are top players in the Sicily property market and the bridge will enhance the appeal of Sicily from a property buyer's perspective.

Property experts has said that there has been an explosion of interest in the Sicily region in recent times as it offers a number of attractions to investors, including lifestyle benefits , good weather, leisure facilities and the potential to collect high returns.

Sicily region is particularly popular with "insightful" investors and second home buyers, as they are aware of the opportunities it presented.

Why Umbria has the double edge on Tuscany?

Potential overseas investors in the Italian market have been directed towards the central region of Umbria.

The Times has reported that even if the province is non-coastal, it offers various lifestyle attractions such as delicious Italian cuisine, unspoiled natural beauty, history and culture. Nevertheless, the newspaper also revealed that Umbria offers much lower property values than other parts of the country like Tuscany. Foreign purchasing power in Tuscany has increased the cost of living and property prices. Umbria is only 70 miles from Florence and Rome which is perfect for day visits.

Umbria’s emerging property market, however, is less mature and offers the best chance for investors to achieve capital growth then the established Tuscany region. Property experts argue that Established areas generally start from a comparatively high level, meaning the chances of achieving capital growth are smaller.

Umbria has tighter planning regulations than Tuscany, so new-builds are rare and extending is not generally allowed. The demand helps to keep Umbrian prices buoyant. For instance, a two-bedroom apartment in Tuscany is said to cost about €300,000 and a similar property in Umbria characteristically sells at just about €180,000. The Times has said that the region is "better value" alternative to places like Tuscany.

Italy attracting more Londoners

Property investors from London are increasingly purchasing residence in Italy, new research has revealed.

The Channel 4 programme A Place in the Sun live has revealed that Italy is currently the most popular location among property purchasers from the UK capital. The study also found that Londoners are tempted about buying a home abroad while on holiday. They are also seriously thinking it as a dual-purpose holiday home, which will act as both a temporary retreat from the UK and also a good investment.

Amanda Lamb, host of the Channel 4 programme A Place in the Sun live has recently bought a holiday home in Puglia. Italy is rated very highly by the Londoners who have moved there on a permanent basis and they praised the quality of housing and accommodation, good weather, healthcare provision and also for other lifestyle requirements in Italy. The attractive countryside, fabulous beaches and cultural heritage was also admired by London residents, along with the hospitable nature of local people.

The strength of the Italian property market is due to its broad appeal, as it was attracting a various section of property purchasers from UK such as second home buyers and retirees who wanted to move abroad.

Recently ShelterOffshore.com said that the new changes to the tax regime successfully cutting the price of property made Italy as an ideal place in which to make a purchase.

Irish pensioners move to Italy

The Irish Independent newspaper revealed the government official figures that the number of people claiming the state pension abroad increased by 17% last year. That means more than 36,000 pensioners from Ireland are now collecting their privileges in another country.

Italy is highlighted as popular destinations for retirees, followed by France, Portugal and Cyprus. The reason for Italy as one of the main hotspots for senior expatriates is said to be largely because it offers several lifestyle attractions that are highly conducive to a pleasant retirement. Italy is famed for its laidback lifestyle and relatively low cost of living. The good climate is one of the main factors in its favor, as it offers pleasant weather all year round.

The high price of property in Ireland and the potential for capital growth in Italy drives the property investors and retirees to Italy. However, Italy is now attracting more lifestyle buyers rather than property investors, as the physical and cultural attractions of Italy are also in demand.

Mark Slaviero of professional property sales service Homes in Italy believes that Italy could prove to be wise investment choice for anyone looking for an overseas property purchase.

Overseas investors attracted by Italian'Rural Dream

British publication the Telegraph stated that Calabria, a province in the south of Italy popularly known by its nick name "the toe on the Italian boot", is proving to be a highly popular destination for overseas investors. The Association of International Property Professionals (AIPP) also said that properties in rural Italy are generating huge interest in property from overseas investors due to its low prices.



British property purchasers are chasing the old "Tuscan farmhouse" dream have resulted in a surge in Property Investment in rural Italy. The AIPP has further said that Calabria offers a good option for investors dreaming of their own farmhouse. Farm houses in Calabria boast large plots of land while still comparatively affordable.

Recently Budget airlines Ryanair began flights to this region and so it has become far more accessible from other European locations. This is resulting in new developments emerging along Calabria's scenic coastline. Paul Owen, AIPP's chief executive explained that Britons' are familiar with Italy as they have been there before and know what they are going to get.

Andy welland, spokesperson for propertyshowrooms.com tipped Calabria as an investment hotspot for the future. Recently the Telegraph has stated that Calabria offers several benefits to overseas buyers, like attractive sceneries and cheap property values.

Property in Umbria good for overseas buyers

Property firm Ultissimo highlighted the Italian province of Umbria as a potentially lucrative location for overseas property buyers to consider for property purchase. Property experts recommended that the area has "potential", which makes it ideal for a long-term investment.

Paul Belcher, Spokesperson of the Property firm has said that it is an ideal place to escape to at the weekends with the family because Umbria is not a typical holiday destination and it does not get flooded by holidaymakers during the summer. It is not generally considered a market for investment buyers. Typically Spanish website has reported the about the research by the Academy of Healthy Ageing showed that Italy offered a better lifestyle than any other nation in Europe.

Overseas investors consider property in Umbria as a lifestyle purchase and they are looking at the long-term, so are not concerned with pressing financial worries. Recently there has been an "explosion of interest" in the region and it is praised for offering a number of attractions to investors, including lifestyle benefits and the beautiful countryside. With interest in the area increasing, this is the ideal time for property investors buying in Umbria to make their purchase.

Umbria has only recently been tapped into by foreign property buyers. Consequently, the market is growing and a property in the region could be a potentially lucrative investment.

Flurry of early activity in Italian holiday rentals

Many owners of rental property in popular Italian holiday destinations will be seeing higher occupancy rates flurry of early activity in enquiries for holiday rentals next year has been reported. This would result in greater rental yields, while the demand could push up the value of their house.

15 per cent of independent travel agents said Italy would see a bigger increase in bookings in 2008. The Paula Lacey of Network, the marketing company has said that the prospects for 2008 holiday bookings through the trade are really encouraging. Rentvillas.com has been in the business from 1984 of renting apartments and villas. Rentvillas.com is experiencing a huge increase in early-bookings and nearly 50% over the same time last year.

MyHoliday.com reports confirm that the reputation of self-catering holidays has grown considerably in the last few years, particularly in countries such as Italy. This is likely to be highly advantageous to owners of holiday accommodation, as many will have purchased property so as to make rental income from holidaymakers.

Rentvillas.com founder Suzanne Pidduck has recommended starting nine months to a year in advance so that people can get the best rental property selections, and plenty of time to search for airfare and arrange for transportation.

The charm of Italy has been highlighted by property writer Mr. Peterson as he said people choosing a villa or a rental home can only expect the best in accommodations with different amenities for their stay. Italy’s year round appeal could also benefit rental investors, as tourists would be among their main customers.

Winter sports boost Italian property investment

The Association of British Travel Agents (ABTA) has revealed that there had been a considerable increase in the number people spending the festive season abroad particularly Italy this year and the country awaits for the arrival of Many winter sports fans this Christmas.

Sean Tipton, spokesperson for the organization, said the country offers plenty of good ski resorts, thanks to Italy's mountainous geography and due to the number of cheap deals currently being offered by holiday firms.

Skiing is popular in Italy and a fairly commonplace activity. The best skiing and winter sports facilities are found in Italy's northern, Alpine regions. The southern region of Italy also offers a few winter sports options. These regions are well-served by budget flights from the UK. A large proportion of Italians, besides their month-long summer holiday, will take a 'settimana bianca' (a week in the white snow) and spend a week skiing in the winter.

Sean Tipton also said that the torrential downpours that hit the UK last year provoked a huge rush for last-minute breaks. ABTA also revealed that many people try to prevail over the post-Christmas blues by booking their summer holiday. As a result, overseas property investors are increasingly buying rental accommodation in Italian ski resorts and Italy is becoming more popular with buyers who wish to cash in on the popularity of winter sports. Ski chalets are in particularly high demand between January and March

The organization stated that a record number of people from the UK are leaving abroad to spend the festive season. Research by Ebookers.com has revealed that nearly one in four of those spending Christmas abroad are doing so for the first time.

Southern Italy 'cost-efficient choice for overseas investors'

Broadcaster Amanda Lamb, who hosts Channel 4's A Place in the Sun Said that southern Italy is an ideal place to escape to at the weekends with friends and family and recently purchased a holiday home in Puglia, south-east Italy. Homes in Italy, a property sales service has reported that the south of Italy is competing with traditionally popular countries such as Spain and France in terms of price.

Southern part of the country has only recently been tapped into by overseas buyers. Consequently, the market is growing and a property in the region could be a potentially lucrative investment. However, apart from the price factor prospective buyers are also attracted by the rich history and cultural heritage of Italy, as well as excellent food and drink. ShelterOffshore, property website has said it could be an ideal place in which to make a purchase as the recent changes to the tax regime efficiently cutting the price of property.

Official Figures from the World Tourism Organization revealed that Italy ranked fifth on the list of top global tourist destinations. Properties in southern Italy have generated great interest to holidaymakers, as vacationers seek apartments along the coast and in relaxed countryside.

Italian legal firm Giambrone & Law has said about the growing popularity of southern region with overseas buyers the region, especially places such as Calabria and Puglia as they offer a number of attractions to investors, including lifestyle benefits and the potential high returns.

This comes after the recent article in A Place in the Sun magazine as it revealed that Italy is currently the fifth most popular overseas property market among British buyers.