Toe of Italy's boot 'attracts investors'

Monday October 22nd , 2007

A province in the south of Italy is proving to be a highly popular destination for foreign property buyers, a newspaper has said.

British publication the Telegraph stated that Calabria offered many benefits to overseas buyers, such as attractive scenery and cheap property values.

Referring to its nickname as the "the toe on the Italian boot", the newspaper said that some new houses could be snapped up for as little as £60,000.

"Calabria is becoming fashionable, while still relatively affordable," it continued.

The publication added that the province's "star has risen" since budget airline Ryanair began flying to the region, as it was far more accessible from other European locations.

This, it stated, had resulted in new developments cropping up along Calabria's "scenic coastline".

Last week, the Mayo Advertiser also praised the region for offering investment opportunities to foreign buyers, saying that prices in the region had risen by about 40 per cent in the last 12 months.