Investment opportunities in Sicily

Frank Salt Real Estate is offering a selection of country houses, townhouses, villas and new sites for development in Ragusa, Sicily. This enchanting region of good wines and inspiring sights is one of the most sought after areas in Italy for holidaying and offers a rich combination of historic cities, culture, warm climate and easygoing life. Sicily also offers coastlines, mountains, countryside and beautiful towns and cities.

"Over the past few months, we have been studying Sicily's potential and how property can be offered to the local market," said managing director Joseph Lupi.

"Once the right Italian associates were pinpointed, a thorough exercise took place to locate which places in Sicily offer the best investment potential and peace of mind. Ragusa was chosen for its proximity to Pozzallo and Malta, and for its diverse sites and countryside, not to mention excellent property prices.

"These are similar to what one used to pay in Malta and Gozo 20 years ago but are now rising fast. To give an example, it is possible to acquire a 20,000 square metre plot of land in the countryside, close to the charming towns of Ragusa and Modica, from only €90,000. Ready-to-move-into town houses in the heart of the city start from €75,000.

A number of developments are underway in conjunction with local developers. One such development offers the possibility of buying a plot of land measuring 10,000 square metres of land, together with permits for a luxurious villa from only €55,000. Frank Salt Real Estate is also offering turnkey solutions, whereby the villa can be completely constructed and finished to high specifications, from €180,000.

Sicily is 90 minutes away by catamaran. The cost of living is cheaper than Malta and the island boasts a stable and growing economy. Joint ownership, whereby a group of friends or relatives can share the purchase price, is picking up fast.

An open weekend from November 14 to 16 is being held at Le Meridien Hotel, St Julian's. For more information or an inspection visit, call at any Frank Salt Real Estate branch, e-mail sicily@franksalt.com.mt or call 2379 4794.