Red hot Italian property region sees another plush homes scheme

Another plush property development has been released in an up and coming region of Italy experiencing a new homes boom.

Portoada Park has been released for sales by Windrush Alliance in Calabria, an area in the south of the country which is fast emerging as a competitor to some of Italy’s more famous property hotspots.

Due for completion in March, the development is close to the town of Pizzo and involves villa homes in a private gated community close to a beach.

Earlier this week another Calabrian property scheme, Terrazas di Pizzo, was announced by First Property Choice, involving 163 homes in two phases – one due for completion in December 2010 and another scheduled for June 2011.

Windrush Alliance describes the Portoada Park development as “one of the most exclusive villa developments” in the area.

It added the site will have idyllic rural surroundings including an ancient pine and eucalyptus forest.

Villa homes in the development are available at 279,900 Euros ($357,806), with terms involving 40 per cent on issue of contract and 60 per cent upon completion of the property.

Calabria has emerged as a challenger to some of Italy’s more well-known markets, such as Tuscany, and still commands prices below some of those seen in established areas.

Besides potential investment homes, the area is also seeing local-authority backed investment in infrastructure including improvements for the road network.

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