Owning property in Tuscany means having your own share in unparalleled loveliness
Magnificent art and delicious food, cultural riches, and a diverse natural environment that is nothing short of spectacular. Tuscany, arguably Italy’s most well-known and beloved region, is a haven of manifold beauties. Not unexpectedly, many travelers daydream about buying one of the many houses for sale in Tuscany.
Should you buy property in Tuscany in 2023 – 2024?
Or, more specifically, is real estate in Tuscany, Italy, a good investment? Attractiveness aside, what prospective buyers want to know is if there are significant, substantial reasons why they should choose a house for sale in Tuscany over one located elsewhere. This weighty question is the topic we aim to address in this article.
Why a house in Tuscany will never go out of style
For a variety of reasons, but first and foremost because the region’s allure to tourists, and even potential relocators, is not likely to fade. Actually, statistics prove it is presumably bound to rise. In fact, what emerges from the official data collected over a 9-year period, from 2012 to 2021, by the regional government, is that Tuscany lures visitors in all seasons. This is due to the region’s incredible diversity of natural and cultural attractions.
Major tourist attractions in Tuscany
Tuscany’s art cities and historic towns are among the world’s most inspiring places to visit. Year-round must-sees definitely include Florence, an open-air museum endowed with outstanding art and architecture, Siena and Pisa. Yet, the smaller villages, also welcome hundreds of visitors every year. These include Volterra, Lucca, the towns of Val d’Orcia, Pistoia and San Gimignano.
Summer and wintertime favorites
In the summer, Italian and foreign travelers flock to Maremma’s wonderful wild beaches, to the sandy shores of Versilia and fashionable Forte dei Marmi, to vibrant Livorno and its deep blue sea. Tuscany also boasts a spectacular archipelago which includes Elba, Giglio, Giannutri, Capraia, Pianosa, Montecristo and Gorgona Islands. In winter, the hills around Florence grow silent and evocative, there is newly pressed oil to taste and hearty farmer’s fare to savor, and the Apennines welcome skiers on their snowy slopes.
Travel trend forecast: demand to rent a house in Tuscany will continue to boom
Needless to say, tourists need to be accommodated, and anyone can imagine that there are countless travelers who yearly look for houses for rent in Tuscany, Italy. But what is more interesting is that the demand for vacation homes is literally soaring. A recent survey carried out by the online journal The Post Internazionale shows an ever-increasing number of visitors inclined to rent a house in Tuscany, and that this choice is favored both by those that spend their holidays in the art cities and by those that pick a seaside or mountain destination.
Tuscany: real estate opportunities next door to world-class museums
Tuscan art appears to be one of the most entreating of the region’s graces, particularly the masterpieces of the Renaissance. The figures are enlightening, and promising for the years to come: a recent article published by the local newspaper “Firenze Today” reveals that in 2021 the Uffizi Gallery was the most sought-after artistic site in Italy, beating the Colosseum and Pompeii, with 1.721.637 visitors in only 12 months.
Buy property to rent in Tuscany, the Italians favorite vacation destination
As tourism goes, Tuscany’s diverse geographic, and hence vacation, landscape, is a welcome plus: not many European regions can offer magnificent art, and spectacular sea, mountains, and countryside in a mere 22,985 square kilometers. The data reported by Belvilla, one of the leading Italian vacation homes portal and recently published by La Repubblica reveals, in fact, that 44% of Italians choose this region for their holidays.
Houses for sale in Tuscany, Italy: the festival factor
One of the reasons why innumerable Italians and Europeans travel to Tuscany throughout the year is to attend one, or more, of the outstanding events the region hosts. The Palio di Siena, the world-renowned horse race in Siena’s lovely main square, draws thousands every year, as do the allegorical masquerades and glorious parades of the Carnevale di Viareggio.
As for food and wine-related festivals, late summer and fall are chock-full of occasions to indulge: from the white truffle fair in San Miniato (province of Pisa), to the Festa dell’Uva and Chianti Classico Expo in Greve, to the smaller fetes held in many towns and villages.
Music devotees seek property in Lucca, Tuscany
All types of music fans are spoiled for choice in Tuscany, with the opera and classical music showcased by the Maggio Musicale Fiorentino in Florence and the Puccini Festival in Torre del Lago, and contemporary vibes playing the leading role at Pistoia Blues and Lucca Summer Festival. Also, many cities and towns host truly intriguing historical reenactments, among which Florence’s Calcio Storico and Pisa’s poetic Luminaria.
Houses for rent in Tuscany: the Spa craze
Finally, another up-and-coming travel trend that sets Tuscany aside from other Italian regions, and makes property for sale in Tuscany all the more interesting for investments, is the current appeal of thermal baths. The data published by the Tuscan regional government between 2012 and 2021 shows a constant, prospering flow of Spa-focused vacationers. Truth be told, Italians have always had a soft spot for Tuscany’s warm waters, but nowadays, the beautiful premises and curative ripples of le terme di Toscana are attracting a great many foreign globetrotters.
In fact, the FInancial Times lately published a list of the world’s “top super-scenic hot springs”, listing Tuscany’s Saturnia and Fonteverde among them and suggesting visits to lesser-known thermal oasis such as San Filippo Bagni and Petriolo, both in the province of Siena.
Why buy property in Tuscany in 2023-2024
From an investor’s viewpoint, the details on tourism flows and the example of the Tuscan Spas recent popularity clearly show that the value of houses in Tuscany will at the very least keep constant, and is extremely likely to increase as time goes by, driven by the rising touristic interest in different areas. All in all, choosing to invest in a house for sale in Tuscany Italy proves to be a savvy decision both if you wish to enjoy these personally, or if you want to rent your property out.
Houses in Tuscany and higher education
Real estate investments in Tuscany are also profitable because the region houses an abundance of important universities. Florence, Pisa and Siena, are internationally renowned learning hubs that welcome hundreds of foreign students every year. Attendees need homes, hence there’s a steady market for houses for rent in Tuscany, Italy. But buying property in Tuscany also allows an investor to secure his or her children’s future, guaranteeing easy access to higher education.
How the local cultural heritage helps guarantee the solidity of property in Tuscany
Another, less-pondered, very appealing aspect of real estate in Tuscany concerns its stability as regards maintenance of its immediate surroundings. Boasting 7 UNESCO-listed world heritage sites, and recently enhanced laws on the recovery and protection of historically and culturally relevant buildings, the Tuscan regional government maintains attentive conservation policies. Strictly enforced, these regulations may appear binding and restrictive, but in fact, they ensure that one’s real estate investment in Tuscany is “encased” in a carefully safeguarded environment, and that its financial value remains solid over time.
Is 2023-2024 the right time to buy real estate in Tuscany, Italy?
Sales have momentarily slowed down and, consequently, property prices are dropping, states La Nazione one of Florence’s most popular papers, in its “Economy” section. Revealing data reported by the leading real estate portal Idealista, the article underlines how Tuscany’s real estate market show, however, a positive trend (+0.1%) and has grown by 2.5% compared to March 2021.
Tuscany real estate prices: the current scenario
But how much do houses for sale in Tuscany, Italy actually cost? Looking at the latest data published by Immobiliare.it is by far the best way to get a straightforward picture of the average costs of property for sale in Tuscany. As of March 2022, the average price for residential properties in Tuscany stood at €2.451 per square meter, showing a decrease of 0.16% compared to March 2021, when it was €2.455 per square meter. The highest price per square meter, on average, recorded last March was in the Florence province, €3.086, while the lowest was in Arezzo, €1.453.
Tuscany real estate prices: the province of Florence
Not surprisingly, many investors are attracted by houses for sale in Florence and its surroundings. Let’s take a look at the market trends here. The Immobiliare.it surveys show that as of March 2022 the average price for homes in the Florence province stood at €3.086 per square meter, i.e. 2.31% lower than March 2021. What appears even more enlightening is the difference between the different municipalities, especially in view of the upcoming investments in terms of public transportation.
Next Generation EU funds and affordable real estate in Tuscany, Italy
In fact, whilst in the municipality of Florence the average price per square meter for residential properties recently hit €3.953, there are areas in the Cradle of the Renaissance’s surroundings that offer cost-effective housing solutions, and will soon reap the benefits of the National Recovery and Resilience Plan (the funds provided for by the Next Generation EU program), and its plans for transportation.
Affordable real estate in Tuscany, Italy: new opportunities in the surroundings of Florence
How so? Well, one can find more affordable real estate in Tuscany, Italy in the municipalities of Campi Bisenzio (€2.523 per square meter in March 2022) and Sesto Fiorentino (€3.077 per square meter in March 2022), both of which will soon be connected to the city center of Florence by a state-of-the-art subway system.
If you want to read additional information about the real estate market in Tuscany, Italy, and get some advice for your future investment, read here.
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