For many, living in southern Italy is a dream. Being able to wake up every morning and look out a window to see the breathtaking coastline is something that their sights are set on, but they may not believe they will ever afford it.
This, however, is where it is not a dream but an actual reality. Southern Italy is probably the cheapest part of Italy. In fact, due to several different economic factors, southern Italy has seen a major price shift, making it more affordable now than ever before. On top of this, with the decline of the euro and the growth of the American dollar and pound, affording a beautiful location in Italy is now within the reach of investors or people looking for a vacation home is now a reality.
Of course, knowing where to live, what prices someone should expect and where to look remain important, as different locations provide different benefits. It all just comes down to what someone is looking for.
Puglia: sea, rhythm and taste
Puglia is a breathtaking location full of sun and amazing views. Here, it is possible to invest in a wide range of properties, from historic townhouses in the city centre to farmhouses on the outskirts that provide a more tranquil experience. The region is as steeped in history as many of the other locations throughout Italy. Puglia has seen invasions by the Greeks, the Moors and the Romans, all of which shower the area with very specific architectural stylings, which is also what makes this such a beautiful location. For instance the city of Alberobello, which is part of the Puglia region, has been added to the UNESCO World Heritage destinations and on Gate-Away.com are listed for sale about 1,000 properties found here. Among these are its most typical and unique dwellings, such as trulli and masserie.
There are different kinds of investment properties in not only Puglia, but throughout southern Italy. There are turnkey locations, ready for someone to move right in, while others require some refurbishment, although this helps bring down the price and allows investors to put their own, personal touch on the property. Prices for farmhouses to be restored in the countryside start from as little as €30,000.
A two bedroom apartment in the province of Lecce, just 500 m away from the beach can go for around 70,000 euros. A few years ago, for instance this might have cost an American investor $95,000, but with an almost 1 to 1 euro to dollar mark, it is now possible to purchase the same property for around $75,000. Now, for investors who believe waiting on the trend of the strengthening dollar to continue, this might prove to be the case, but it also means more investors are going to come in and purchase the properties, which can drive up the cost and reduce the availability. All of this makes now the time to buy, especially here in Puglia where property prices are still very low in spite of its huge popularity among national and international tourists and home hunters. So hurry up!
Calabria: the toe of the boot
When it comes to beauty on the coast, there is truly nothing like Calabria. From small flats to gorgeous real estates, there is something for everyone here where mass tourism is still not present and prices stay low. Nonetheless Calabria will surprise you with landscapes which are so beautiful it is hard to describe.
Can you believe a one bedroom condo close to the sea can retail for around 40,000 euros? At the same time, with the nearby mountain range, it not only is a beautiful summer retreat, but it makes for an excellent location for skiing lovers. Yes, you can ski also in Calabria, in the very south of Italy!
Prices here are similar to what one might find in Puglia or Calabria, especially inland where it is possible to find a one bedroom apartment for under 40,000 euros, all the way up to four and five bedroom farmhouses with prices over a million euros. This is particularly true in the most famous stretch of coastline which is the “costiera amalfitana”, one of the pearls of the Italian Riviera that attracts people from around the world since the beginning of time. As one might expect, real estates here are very expensive, especially if compared to its affordable southern stretch of littoral, Cilento, which is equally beautiful yet lesser known in Campania.
Basilicata: land of enchantment
Don’t forget the small but beautiful region of Basilicata when considering moving to Italy. Why? It has something for everyone, but no matter the price range, there is always going to be a spectacular view of the countryside which is surprisingly similar to the Tuscan countryside. Did you know it? This is what makes Basilicata such a beautiful location so rich in history but still off-the-beaten track. Anyway Italians are already aware of its huge potential. As a matter of fact its splendid and unique main town, Matera, is the European capital of culture for 2019.
You can invest in property on the sea or right by the mountains, and often times, there are properties that showcase views of both. Could the south of Italy be your dream escape?
[Featured image by elevenItaly]