Sicilian property market ready to take off

Country:  Sicily

3 March 2008

Sicily’s property market will be boosted by the news that the development of a new airport on the island will be completed and ready for operation by spring this year.

Comiso Airport is being reconstructed on a former World War II military airbase on the island’s south east coast, approximately 12.5 miles from the town of Ragusa. It’s been reported that budget airlines may introduce low-cost routes from the airport next year.

“This is fantastic news for the region, as southeastern Sicily, while rich with history, has not got a fully developed property market yet, said Gabrielle Achilleos of DeFremery Finances. “While Sicily is not Eastern Europe, it is situated as an emerging market inside an established western European country, with all its laws, taxes and buyer protections.”

Various infrastructural improvements, including the construction of a number of new motorways, are currently being made on the island. This should bode well with overseas tourists, as internal journey times will be cut.

He added: “A new motorway is being built linking Comiso Airport with the coastal towns of Gela, Modica, and Noto on the island’s south east coast. Another motorway is also currently under construction linking the town of Syracuse with the eastern coastal town of Catania, which has recently had an upgrade to its airport, and has been renamed Vincenzo Bellini. The airport’s new terminal is part of a greater enlargement project due for completion in 2012.”