Investors urged to snap up Pizzo propertiesInvestors urged to snap up Pizzo properties
Overseas property investors looking for a bargain in one of Europe's sunniest spots could be in luck.
GEM Estates is selling competitively-priced beach apartments and villas in Pizzo, a fishing town in the Vibo Valentia district of Calabria, southern Italy.
Pizzo Beach Club, a five-star resort, is close to Lamezia International airport and comprises studios, apartments, penthouses and villas.
Apartment prices start at €74,500 (£53,000), while a villa can be snapped up for €261,500. Expected rental yield is between ten and 15 per cent, according to GEM Estates.
Chris Sawyer from GEM Estates said: "Owning property in this sought-after part of the world often appears to be reserved for the rich and famous but regions such as Calabria, along the southern coast, offer the same charm for a fraction of the cost."
He went on to say that property prices in Pizzo look set to accelerate, which means investors need to act fast if they are to take advantage of the market.
Real Estate specialist InCalabria recently said that Calabrian rental returns during the summer are among the highest in southern Italy.