Property in Campania

October 8th, 2008 | by Ainsley |

A year ago at a Barcelona real estate seminar, a colleague tipped the Cilento coast as the ideal place to buy property in Campania at a fraction of the cost on the nearby Amalfi coast.

Many who took her advice have seen the value of their investment rise by up to 50 per cent since then. And there is still considerable scope for further growth in property in Campania.

In June 2008, the new Pontecagnano Airport, south of Salerno, was opened, with daily flights to and from Milan Malpensa as well as international destinations such as Barcelona and Munich.

The Cilento area is under an hour from the glamorous Amalfi coast, meaning destinations as Vietri, Amalfi, Positano, Ravello, Sorrento and Capri are ideal for a day trip.

It has long, sandy beaches which virtually every year are awarded the Blue Flag, competed for by 3,200 beaches and marinas in 37 countries across Europe, North and South Africa, New Zealand, Canada and the Caribbean.

One of the attractions of buying property in Campania here lies in Cilento’s picturesque towns and villages, situated in the heart of the National Park of Cilento. They include fishing communities, small ports and other fashionable hamlets where many Italian celebrities own villas.

But there is more than just sand and sea – there is also centuries of culture. In Paestum one can visit Greek ruins from the sixth century BC. There are also dozens of picturesque villages with characteristic cobbled paths that lie further inland, such as Omignano and Ascea, boasting centuries of history.

Property in Campania’s Cilento region has superb rental potential as it is in great demand, especially from visiting Northern Italians and Germans. Don’t be surprised to find many hotel and restaurant staff who speak a smattering of German.

Property prices vary a lot, depending on vicinity to the beach. For a one-bedroom apartment within walking distance of the sea, budget around €100,000.

Ten minutes’ drive inland and you can pick up a new-build one-bedroom apartment for just €70,000. The same price will also land you a two-bedroom resale apartment. A villa with two bedrooms will typically cost €150,000.

A further boost for the local property in Campania market is the news of a new €15million golf course to be built in Castelnuovo Cilento. Castelnuovo Cilento is in the heart of the region, meaning it will be easily accessible from coastal towns as well as the hinterland. It will also be close to Vallo Scalo rail station, with direct train links to both the north and the south of Italy.

The Italian holiday chain Club Med is planning to open a resort here once work on the golf course starts – yet more proof of Cilento’s position as one of Italy’s up-and-coming areas.

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