Hollywood celebs are not the only buyers in Italy as British investors find bargain prices, it is claimed

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Celebs look to Italy for real estate investments

George Clooney owns a property in Italy and fellow actor Mel Gibson is apparently looking for one at a time when more investors and buyers are seeking bargain prices in the country, according to various experts.

Hollywood superstar Mel Gibson is looking to buy a property in Calabria in the south of Italy after becoming enchanted by the stunning scenery after filming in the medieval town of Matera.

According to the mayor of San Lorenzo del Vallo, a small town in northern Calabria, the area has everything a second home owner could want including blue seas, imposing mountains, wonderful lakes and rolling hills. It is also rich in history and culture.

Tuscany is another area popular with property investors and British buyers in particular are looking at the Italian region again, according to Luca Catalano, director at Realitalia, a specialist in renovation and new traditional houses.

‘We have in recent weeks collected two reservations in Tuscany from two British ladies and a British gentleman is buying a holiday home at Dominio San Sebastiano in Liguria, where all of the more than 20 reservations except one were to Italians,’ he said.

‘It is interesting to note the rapidity in which the British buyer has returned which we feel is due to their realization of the incredible value our homes offer thanks to the combination of a strong Pound and our current promotions. The sales are concrete evidence of this turn around in the market,’ he explained.

‘Without a doubt we have seen a marked increase of interest from the British with the rise in the numbers requesting information, visiting our show homes and ultimately taking decisions,’ he added.

The exchange rate is proving enormously beneficial for those with Sterling. British buyers can save up to £60,000 without even taking into account the saving on the transaction costs on the purchase of a property at €500,000, according to the company.

According to Experience International buyers are also realising just how affordable property can be in Italy. It says it has a range of affordable properties including off-plan and completed homes.

A completed one bedroom apartment on a beachfront location and five minutes from the marina can be found for €74,000. Boutique one and two bedroom apartments located in the Sila Mountains close to the lakes are starting at €87,000.

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