With the cost of a UK wedding spiralling to an average of £20,000 and with increasing numbers tightening their belts at this difficult time, there is a growing numbers are looking towards foreign shores when planning their nuptials.
Recently released figures by consumer, media and market research company Mintel show that one in six British couples (16 percent) are now getting married outside of the UK, an increase of 43 percent since 2003.
Italy, for example, has excellent investment potential for those wishing to benefit from the estimated £333 million annual Italian wedding market (according to Mintel).
The potential revenue from rental would come from people celebrating their honeymoon or nuptials overseas as well as guests that are travelling abroad to attend the wedding and who look to rent local property during their stay.
The comparatively low cost of the average overseas wedding - £6,000 - is just one draw: with more reliable weather, beautiful scenery and the potential to combine the wedding with a honeymoon some of the reasons why more and more couples are now getting hitched abroad.
In terms of offering good value for money, shorter-haul destinations are proving increasingly popular with those looking to book their wedding overseas, as not only does a shorter journey keep the cost of the wedding down for the bride and groom, but it also makes the experience for any guests as cheap as possible, allowing more people to attend. Italy, especially, has long been a destination synonymous with romance, from Verona's association with star-crossed lovers Romeo and Juliet to whose balcony romantic pilgrimages have commonly taken place and where couples can now marry as part of the city's 'Wed Me In Verona' scheme, to the breathtaking Tuscan hills and the Trevi Fountain of Rome, where the throwing of three coins into the water is said to ensure a marriage.
Charlotte Hand, a director at overseas wedding company Marry Abroad, said: “Italy is one of the most visited countries in terms of hits on our site. It is a fantastically romantic country and real backdrop to any wedding.”
Attracted by the romantic history of Italy, as well as the increasing numbers of Blue Flag beaches, the stunning scenery that Italy is famous for and that attracts lovers to marry on its shores, is also attracting those looking to buy a home overseas.
Steve Worboys, Director of Experience International, said: “Italy has a great deal to offer those looking to buy a property overseas: a warm climate, enviable lifestyle, breathtaking scenery and affordable prices amongst a wealth of attributes that destine many to fall in love with Italy, choosing to make it either their permanent home or the place they buy a holiday property. Either way, those buying homes in Italy are sure to experience La Dolce Vita and hold a lifelong passion for the country.”
For those looking to take full advantage of Italy's rental potential, the popular southern region of Calabria is a firm choice, offering pristine coastline and a warm climate.
Here, three-bedroom two-bathroom villas with private gardens are available in the Paradise View resort, situated in an elevated position, five minutes from the beach and the town of Soverato.
The resort, which is 40 minutes from Lamezia Airport, also has tennis courts, a gym, spa, and onsite bars and restaurants. Property prices start from €123,200/ £156,000.
|