How To Find Affordable Property On The Italian Riviera

Just over a century ago Sanremo attracted European aristos as well as the likes of Russian composer Tchaikovsky, who wrote his Fourth Symphony here in 1878 and Swedish chemist Alfred Nobel, who died in the resort in 1896.

In the 1950s and 60s it was to Portofino, a couple of hours along the coast, to which the likes of Sinatra and Bardot thronged. Now the faces are those of Denzel Washington, George Clooney and Tom Cruise.

In other words, the coast of Liguria in northern Italy has always exuded the level of star allure that to this day brings nearly five million people per year, making it one of the country's most popular regions and a favourite among people looking for holiday homes. With good reason. For a start, it overlooks a breathtaking 280km of coastline also known as the Italian (or Ligurian) Riviera, spanning the border with France at one end to five picturesque villages that make up the fabled Cinque Terre, now designated a UN World Heritage Site.

Stef Russo, head of Italian property firm The Property Organiser, explains: "It is surpassed only by maybe Tuscany in terms of parts of the country most requested by our customers. On top of the Cinque Terre coast, its sandy beaches and scenic countryside, France is only over the border, there is skiing in 45 minutes away in Piedmont, and access is made easy by airports in Genoa and Nice."

The costliest locations on the coast are probably Alassio, Bordighera, Portofino and the Cinque Terre. Prices also rise if you insist on overlooking the sea. The market is kept buoyant thanks to demand from well-off French, Swiss and Italians. In general expect some Euro 425,000 for two bedrooms within a short walk of the coast and up to Euro 950,000 for a sea-view villa in a similar position.

As always, canny buyers can pick up bargains by shopping around. In Alassio, 85sq m homes with sea view can be obtained from Euro 230,000. And in Bordighera, Euro 345,000 can pay for a 90sq m flat also boasting a sea vista, although you will probably find yourself a bit farther out from the sea.

However, overlooking the coastal resorts is the mountainous countryside littered with beautiful hamlets. But if you can live without being close to the sea, go just 20 minutes inland, to areas such as Perinaldo, which is what legions of British and American investors have done in recent times. Here, budget for a 75sq m apartment to come with a price tag of around Euro 140,000.

Don't mind getting to grips with a restoration? Then you may get away with Euro 110,000, possibly with a 1,000-2,000sq m garden as well. Given the region's strong popularity, rental potential is excellent, in particular if you have bought close to a coastal resort. Typically, a two-bedroom apartment can be let for Euro 1,500 a week between May and October and a high-end house with swimming pool twice as much.

Some of the most attractive towns on the coast are undoubtedly Alassio, Sanremo and Portofino. Alassio has two miles of sandy beaches and has pulled in UK visitors for over a century while celebrities such as the novelist Ernest Hemingway began coming here in the 1930s. Sanremo is heady with timeless glitz and is today best known for its music fete.

While one of Portofino's most striking features is multi-coloured rows of fishermen’s homes looking down on its harbour. In peak season its swanky fashion stores packed designer items and the yachts cramming its waters speak volumes about the type of well-heeled visitor that holidays here.

But in terms of natural beauty little tops the five clifftop villages that are better known as the Cinque Terre. Then again, some things in life are priceless.

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