Investors drawn to southern Italy

Thursday February 7th , 2008

Southern Italy is becoming increasingly popular with foreign property buyers, according to experts.

Italian legal firm Giambrone & Law said there had recently been an "explosion of interest" in the region, especially places such as Calabria and Puglia.

The area was praised for offering a number of attractions to investors, including lifestyle benefits and the potential to collect high returns.

The firm added that the region was particularly popular with "shrewd" investors and second home buyers, as they were aware of the opportunities it presented.

Gabriele Giambrone, senior partner at the company, commented: "Southern regions of Italy [are] fast becoming the new Algarve of the Mediterranean."

However, he pointed out traditional markets such as Tuscany and Umbria were still highly popular markets as well.

Meanwhile, the country has been rated as one of the top five investment hotspots in the world by HolidayLettings.co.uk.