Italian Calabria Regaining Popularity With Investors
News Posted On: 23 March 2011
Italy’s city of Calabria is experiencing more and more interest from overseas property investors lately, especially those from Germany, Poland, Russia, and Scandinavia. The fact that airline costs are comparatively low right now, as well as positive tax implications has made Italy a popular overseas property investment destination.
Calabria, which has seen the popularity gained during the boom dwindle over the last 18 months, is once again becoming a favorite among private investors, holiday home buyers, and holiday home investors.
Italy’s Mediterranean climate and rich heritage has always drawn people to the area. Calabria, which is located at the tip of the southern Italian peninsula, is a common destination for tourists as well as for those seeking investment homes.
A couple of factors are helping this area to become more popular. Firstly, the infrastructure and transportation networks are due for an overhaul within the next couple of years, as part of the EU cohesion plan.
Secondly, Italy has done away with the inheritance tax, which means that if a developer default on a build the purchaser’s funds will be protected. Additionally, after five years there is no capital gains tax.
Airlines such as Ryanair plans on re-introducing the route from London to Lemizia Terme in April of this year, which will make it easier for travelers to get to Calabria.
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