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Calabria. A hidden, sun-kissed corner of Europe 'on the brink of a property buying frenzy!'

Calabria sits at the brink of what could be a property-buying frenzy. Developers and UK real estate agencies are already starting to promote the region and the buzz phrase is "Spain as it was 20 years ago"

Surrounded by clear silver-blue sea on three sides, Calabria is one of the warmest and sunniest corners of Europe. Even in mid-October, temperatures remain in the upper 70s. You’ll find lemon groves, vineyards, and ancient chestnut woods, fishing villages, stone-built watch-towers, and donkeys carrying firewood. And wine festivals, religious parades, and a wealth of traditions that are deep-rooted rather than something dreamt up by the heritage industry. You’ll see men playing centuries-old card games, women doing embroidery, and shepherds tending their flocks just as their fathers did.

Despite this region’s obvious appeal, almost nobody knows about it. Perhaps that’s why property prices remain incredibly cheap. But, as part of its 2007 forecast of the of the world’s property hotspots, International Living Magazine predicts that is about to change as a result of what it calls “The Ryanair Effect.”

“What’s that? Every time Ryanair, the low-cost Euro-carrier, adds a new route to a previously undiscovered locale, a ripple effect follows in the local economy! Those new Ryanair flights bring more tourists. More tourists mean more money in circulation, more local jobs. And all this eventually leads to a booming local real estate market.”

International Living Magazine cites the example of Nykoping in Sweden. Before Ryanair, Nykoping was a sleepy seaside community 60 miles south of Stockholm. Then the airline began offering flights between Nykoping and the UK three times a day and as a result, the town has, according to an article in Wired magazine “experienced a more sustained economic boom over the past three years than even Stockholm. The job market is healthy, and real estate is on the rise.”

Now, International Living predicts the same thing is about to happen to this part of southern Europe, since Ryanair has recently started serving the region’s Lamezia Terme airport. “This area (Calabria) sits at the brink of what could be a property-buying frenzy. Developers and UK real estate agencies are already starting to promote the region and the buzz phrase is “Spain as it was 20 years ago.””

And with Calabria’s other regional airports hoping to achieve international status and other airlines considering introducing new routes to the region things could be set to boom.

James Espin
Marketing Director
Overseas Property UK
5th March 2007