New Property in Italy from Azure Overseas

Overseas property specialists Azure Overseas have announced the launch of a new 5 star resort development in Calabria, the Pizzo Beach Club.

Azure director Frank Crowley said:

"Calabria was just beginning to finalise its entrance as a destination for property investment when the credit-crunch became an unavoidable reality and everyone became terrified to speak a positive word about property investment anywhere. This means Calabria still has all the strengths it had then. Calabria is a relatively virgin market, and while it saw many new developments in 2008, it is still what you would call very under-developed when looked at in the context of just how rapidly tourism is rising.

"Beach-front developments like the Pizzo Beach Club are particularly popular. But Calabria's virgin status when it comes to development also translates to its tourism market, so rental yields are currently only in the 4-6% bracket, but this is expected to climb to the 6-8 or possible even the 8-10% bracket in the next 3-4 years depending on how quickly the credit crunch lets up. The Pizzo Beach Club's proximity to a Club Med resort means the properties could fetch higher rental yields if properly marketed, or if arrangements can be made with the Club Med resort administration."

The Pizzo Beach Club is five minutes from the beach to the Tyrrhenian Sea and within a 15 minute drive of Lamezia International Airport. The resort offers studios, apartments, penthouses and villas. An ancient forest of eucalyptus and pine trees separates the resort from the beach, which is a short 5 minute walk through the trees.

Facilities and activities on the resort include: a football field, tennis courts, a club house with restaurant and facilities as well as swimming pools and botanic gardens. In the forest residents can enjoy archery, and relaxing in a hammock, the silence broken only by bird-song, the wind and the waves in a specially created relaxation area. For the more active archery is also on offer in the forest.

The developer is currently trying to come to an arrangement with the Club Med resort administration so that Pizzo Beach club residents can also make use of their facilities, including rock-climbing, kayaking and sailing.

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