Affordable Real Estate On Italy's Most Scenic Coast

Just over a century ago Sanremo drew European nobility and the likes of the composer Tchaikovsky, who penned his Fourth Symphony here in the late 1870s and the man behind the Nobel awards Alfred Nobel, who died here in 1896.

Half a century on it was to Portofino, a couple of hours along the coast, to which Hollywood icons Frank Sinatra, Brigitte Bardot and Liz Taylor flocked. Today the faces are those of Clooney and Cruise.

In other words, the coast of Liguria in northern Italy has for countless decades exuded the sort of star quality that to this day entrances nearly 4.5 million people per year, making it among Italy's most visited spots and a favourite among people looking for holiday homes. And with good reason. For a start, Liguria features a superb 180 miles of coastline renowned as the Italian (or Ligurian) Riviera, stretching from the French border at its western end to five picturesque villages that form the famous Cinque Terre, now designated a Unesco World Heritage Site.

Stefania Russo, head of Italian real estate search experts The Property Organiser, points out: "Liguria is beaten only by Tuscany in terms of parts of the country most requested by our buyers. On top of the Cinque Terre, its sandy beaches and beautiful hilly landscapes, the French Riviera is only across the border, there are ski slopes in 45 minutes away in Piedmont, while getting here is easy thanks to airports in Nice and Genoa."

The most expensive areas on the coast are probably the Cinque Terre, Bordighera and Alassio. Bear in mind you pay a premium if you insist on a sea view. The housing market is kept buoyant by prosperous Swiss, French, Germans and Italians. Typically expect to be asked for some Euro 410,000 for an apartment within a short walk of the coast and up to Euro 1,250,000 for a sea-view villa in a similar location.

As usual, however, there are bargains by looking around. In Alassio, 80sq m apartments a few minutes from the coast can be found from Euro 235,000. And in Bordighera, Euro 335,000 can get you a two-bedroom apartment again with sea view, although you are likely to be slightly farther away from the coast.

However, within easy reach of the coastal resorts is the mountainous countryside full of scenic hamlets and villages. But if you can live without a sea view, go just 25 minutes inland, to hamlets such as Apricale and Isolabona, which is what countless American and British bargain-hunters have done in recent times. Here, expect a one-bedroom apartment to go for around Euro 140,000. Don't mind getting to grips with a property requiring a fair bit of renovation? Then you can get away with Euro 105,000, possibly with a 1,000-2,000sq m garden as well. Given Liguria's strong popularity, rental potential is buoyant, in particular if you have bought close to the coast. Expect a two-bedroom property can go for Euro 1,400 a week between May and October and a deluxe house with swimming pool twice that.

Some of the most beautiful areas on the coast are Alassio, Sanremo and Portofino. Alassio has a 3km long sandy beaches and has drawn Brits since the 1900s while famous faces such as Hemingway began coming here in the 1930s. Sanremo reeks of old-fashioned glitz and is now best known for its 105-year-old casino and pop event. While among Portofino's most striking features is an array of fishermen's dwellings overlooking its harbour. In summer months its high-end boutiques packed designer labels and the yachts moored in its marina speak volumes about the calibre of big-spending visitor that frequents the village.

But in terms of natural magnificence nothing comes close to the five clifftop villages that make up the Cinque Terre. Some things in life are priceless.