Two Sicilies
Where To Grab Affordable Property In Sicily
For decades it has been a byword for the Mafia. Yet Sicily in Italy is now slowly opening up to foreign real estate purchasers in the way the ever-popular Tuscany did 50 or 60 years ago.
One huge change has been the increased number of homes for sale in Sicily. Until recently, they were principally handed from parents to children. But younger generations are more likely to let go of the family property to buy a home of their own.
Another significant factor behind the surge in demand among visitors for Sicilian properties is its prices, which are in general not just barely a fraction of those in Tuscany but among the most affordable in Italy.
Granted, you may not find bargains to compare with the homes for $1.45 offered in Salemi, 45 miles from Palermo a few years ago, the catch being that purchasers had a couple of years to fix damage caused by a 1960s quake. However, just Euro 55,000 should cover a 750sq ft property needing restoration if you don't mind being a 15-20 minute drive from the sea. Euro 65,000 for an apartment around 10-12 minutes on foot from the beach in places such as Calatabiano in eastern Sicily and not far from the highly sought-after resort of Taormina. If you have to be a few yards from the waves, it's yours for Euro 90,000 in nearby places like Giardini Naxos.
The increasing popularity of sunny Sicily among Italy real estate hunters and holidaymakers has also been assisted by th establishment of new direct routes from budget airlines such as easyJet and Ryanair to its trio of international airports in Catania, Palermo and Trapani. A further airport is due to be opened shortly in the south-eastern city of Ragusa. In addition plans have been rolled out for a Euro 6billion crossing linking Sicily with the mainland. By the way, forget the overstated threat of the Mafia, which foreigners never have contact with.
Stefania Russo of Italian real estate finders the Property Organiser sums up Sicily's appeal and says: "It has always attracted tens of thousands of holidaymakers because of its rich history, architecture of Greek temples and Roman amphitheatres, warm climate, seaside resorts such as Taormina and its generally low cost of living.
"Until the past five years or so, there wasn't a great selection of real estate on sale except for in seaside resorts as they tended to passed down in families. Now a younger generation is less connected to tradition. They are happy to realise these assets to enable them to move up the property ladder themselves.
"It remains quite straightforward to find a three bedroom house in Sicily for less than US $250,000. Bear in mind there are pricy areas, such as Taormina, Giardini Naxos, Cefalu and Scopello, but they boast superb rental potential because they have tourists almost all year round."
Resorts such as Cefalu, Scopello, Trapani and Castellammare del Golfo still draw the bulk of overseas buyers. A property with two bedrooms in Cefalu will typically cost Euro 160,000. If you must have a view over the sea, budget around Euro 200,000-Euro 250,000 either here or in Castellammare, 1hr 30 mins along the coast.
Taormina is possibly the island's No1 location for foreign investors and consequently its dearest. In comparison, properties Catania, 50km along the coast are often 50% more affordable. Top-end properties in and around Taormina often change hands for more than Euro 1million. The upside is that letting potential is huge and Euro 3,000 a week is not unknown. Notwithstanding this bargains can be found. Euro 225,000 can get you a three-bedroom property a few minutes from the beach while if you want a sea-view property expect to pay some Euro 300,000-plus.
Sicily has no end of star quality. Sections of George Clooney's heist adventure Ocean's Twelve were made in Castellammare del Golfo while Nuovo Cinema Paradiso was shot in Cefalu. And a number of famous faces homes on the island, including UK pop stars Peter Gabriel, Mick Hucknall and Jim Kerr as well as French film star Gerard Depardieu, designer Giorgio Armani and England football manager Fabio Capello. Madonna and Julia Roberts have also holidayed in Sicily.
Even down the ages Sicily had its famous fans. From Cary Grant and Marlene Dietrich to Truman Capote and D H Lawrence In the 1700s the poet Wolfgang Goethe called the island "a land unutterably beautiful" while a century later Richard Wagner orchestrated his final opera, Parsifal, in Palermo.
Among Sicily's premier attractions are its incomparable architecture and breathtaking scenery. The centuries-old temples and ruins speak of the series of civilisations that have held sway through history: everyone from the Romans and Greeks to the Normans and Brits. Sicily, the largest isle in the Mediterranean boasts an unparalled beauty too, from its 620-mile coastline to its magnificent mountain ranges. Not everywhere lets you own a home looking out onto Mount Etna, soaring 10,000ft above sea level.
Sicily also has a number of sun-drenched isles. Off the north coast are the seven Aeolian islands that include Stromboli, with its active volcano, and Vulcano. Facing Sicily's western shores are the Egadi Islands and Pantelleria while the Pelagie islands of Lampedusa and Linosa off the south are nearer Tunisia's shores than Sicily.
All this and almost non-stop sunshine. What are you waiting for? You might find yourself making some estate agent an offer they can't refuse…
About the Author
The author works for Italy real estate website Homes and Villas Abroad.com. Her other specialist areas include Tuscany real estate, Calabria property and Umbria real estate.
Let's Play Victoria 2 - Two Sicilies Campaign - Part 3
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