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Italy won't succumb to Spanish problems

Despite the growing popularity of investment property in Italy, the market won't fall prey to the curse of overdevelopment blighting Spanish property, according to industry experts.

A saturation of developments led to rocketing prices and poor quality housing in Spain, creating fears of a crash in May.

However, measures have been installed to prevent booming Italian areas such as Calabria becoming flooded with low-grade properties.

Mike Dunkerley, director at the Global Property Group, explained: "This last year, a law's been put in place preventing development within 300 metres of any beach. They're switched on to the dangers of overdevelopment."

He went on to describe the bright future of southern Italy, with Calabria a particular hotspot.

"The new, hot area to open up is right down the south… there prices are very, very much lower. The government of Italy wants to raise the living standards of the people living down there by doing a similar thing [to what] happened in Spain, on the Spanish Costas.

"They're opening it up, they're encouraging development, for tourism, holiday apartments and so forth."

Mr Dunkerley's comments followed recent findings that despite relatively poor accessibility, southern Italy is attracting a growing number of investors.

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