If you’re looking for Italian property with considerable letting potential, location is everything and as Tuscany is one of the country’s most popular regions, it is well worth exploring. In fact, in 2011 Knight Frank reported its busiest year yet for real estate in the region and while prices continue to fall, there are plenty of bargains on offer.
Continued verve for Tuscany among holiday makers and investors also means that the market remains fairly stable. Properties in the €750,000 (£650,204) to €4 million (£3.4 million) price bracket remain the most popular, with a large proportion of buyers targeting the wider Chianti region and the southern Tuscan/Umbrian borders. Restored homes with secondary guest accommodation are also sought after, according to Knight Frank.
So why do investors and holiday makers find themselves drawn to Tuscany? Sonia Tardetti from The Property Organiser explained to A Place in the Sun that it is the essence of the region that pulls people in. “Even if you have never been there, it is one of those places that tugs at the heartstrings,” she said. As a hub of culture and the home to breathtaking landscapes, it is not hard to see why.
“Once you have been there, you will start looking for an ‘excuse’ to move to Italy. And whatever the scale of your Tuscan renovation dream, one thing is clear: there has rarely been a better time to make it come true,” Ms Tardetti explained.
This is partly thanks to the market’s determination to attract new investors and fractional ownership is just one alternative being explored as a means to increase activity. The Global Property Guide reported that more and more people are looking to move to Italy but the financial crisis is putting a halt on investment. With fractional ownership people can purchase a share in a residence, giving them access to the property for a set number of weeks per year and access to all amenities.
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