Your dream is to buy a house in Tuscany (perhaps by the sea!), but you rightly want to do things well. You want to understand where it is best to buy and what are the bargains among the houses for sale.
Let’s start this journey together among the properties of this beautiful region.
The trend real estate market in 2020 and 2021
Before buying a house in Tuscany, it might be useful to understand the real estate market trend to find out if you are making a good investment (also in the future). Always remember: it is important to know the value of a property you are considering buying.
The number of trades is decreasing and, according to the study of OMI, this is due to the global pandemic situation. Only time will tell us whether this will be a trend that will continue over the next few years or not.
The drop in sales often goes hand in hand with a relative drop in prices.
Prices are actually dropping, but due to a general trend already underway. My opinion is that this is not due to the pandemic but to an overall decline in the Italian real estate market after the peaks reached in 2009-2010.
If you are considering making a real estate investment in Tuscany you may also be interested in what is happening in the rental market.
Surprisingly the values required for rents are increasing!
The trend of rental prices in Tuscany. Source Immobiliare.it
In short, is it worth buying a house in Tuscany?
My answer is a definite yes! The prices are low and the deals are many, moreover, for a real estate investment, the fall in prices and the increase in rents is a greedy opportunity.
In 2021 I expect a continuation of these Trends, more sales for properties to be renovated (thanks to the renovation bonuses) and a move to the suburbs with less expensive homes and comfortable outdoor spaces.
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Where to buy a house in Tuscany?
You can find locations for all tastes in the Tuscan provinces: from the sea, passing through the cities of art to hilly or mountain areas.
But let’s try to understand the characteristics of the various provinces, to understand where it is more convenient to buy a property.
Where are-houses cheaper?
To better visualize the average prices I have built the chart below based on the data from the OMI report. https://datawrapper.dwcdn.net/7dwgm/1/
As you can see the least expensive city in Tuscany is Pistoia, while the city where houses cost the most is Florence.
Buying a house in Tuscany: The real estate market in the provinces
Let’s see an in-depth analysis province by province. Note: the prices listed below are the requested prices and not, as in the case of the revenue agency, the values relating to sales.
Arezzo
It is the province located southwest of the region, founded by the Etruscans and with a very rich and important history (birthplace of numerous artists and poets). The territory varies from the plain of the Val di Chiana to the city (however small in size and population, about 98,000 inhabitants) to the hills and mountains.
The average price requested for a house in the province of Arezzo is about 1600 € / sqm, while the market has suffered a significant decline in recent years, offering the possibility of excellent purchase prices.
Florence
I would say no introductions are needed. You may not know that Florence is not only a magnificent city of art but also the countryside and beautiful hilly areas.
The average asking price for a house in the province of Florence is 3100 € / sqm. The values, after the decline due to the general crisis of the Italian real estate market, have been able to resolve themselves, mainly driven by the growth of the historic centre.
Grosseto
The province of Grosseto could be an excellent solution for a home in the sea. Located in the southern area of Tuscany, it enjoys beautiful seaside resorts such as Porto Ercole and Porto Santo Stefano ( Monte Argentario ). The added value is the fact that this province boasts the lowest population density in the whole region: an average of 49 inhabitants per square km.
The average asking price for a house in the province of Grosseto is € 2600 / sqm. The real estate market, in terms of price, has been declining at a steady pace in recent years.
Livorno
Another seaside town, famous for its Caciucco and the friendliness of its inhabitants. Livorno has perhaps the most beautiful coasts of Tuscany (consider that the Island of Elba is part of its territory!).
The average asking price for a house in the province of Livorno is € 2200 / sqm, the average is significantly raised by the prices on the Island of Elba. The real estate market, in terms of price, has been falling significantly in recent years.
Lucca
Province located in the north of the region, which has grown a lot in recent years from a tourist point of view. It boasts an ancient history and places (such as Forte Dei Marmi) famous for tourism of the highest level. The territory, however, is also composed of beautiful hilly and mountainous areas.
The average asking price for a house in the province of Lucca is 3000 € / sqm. Average prices have fallen over the last decade, but they seem to have started to rise again since the end of 2019.
Massa Carrara
Province located in the north of the region, on the border with Liguria. Famous for the production of the famous white marble appreciated all over the world.
The average asking price for a house in the province of Massa Carrara is 2160 € / sqm. Average prices have decreased over the last decade, but show a certain seasonality, with an increase in the summer months.
Pisa
In addition to the city of the leaning tower, the territory of Pisa could be suitable for buying a house by the sea or in the countryside. Pisa combines tourism with important universities and research centres.
The average asking price for a house in the province of Pisa is 1800 € / sqm. Average prices have decreased over the last decade, stabilizing over the last 2 years.
Prato
This city has faced significant economic growth thanks to the textile sector and the massive immigration of the Chinese population. Very close to Florence and often used for university and commuter accommodation, the province of Prato also achieves the regional record for the highest population density: 700 people per square km.
This shouldn’t discourage you though, Prato has a beautiful old town and spectacular countryside and hill areas.
The average asking price for a house in the province of Prato is 2000 € / sqm. Average prices have declined over the past decade, but have returned to steady growth since 2019.
Pistoia
As we have seen, Pistoia is the city in Tuscany with the lowest real estate values . An excellent opportunity to enjoy its splendid hilly and mountain territory, as well as a city that really lacks nothing.
The average asking price for a house in the province of Pistoia is € 1460 / sqm. Average prices have fallen over the last decade and there is still no strong stability.
Siena
The city of the famous Palio, a spectacular historic centre and an area made up of splendid hills and landscapes to fall in love with. Are you ready to find your home in Siena?
The average asking price for a house in the province of Siena is € 2050 / sqm. Average prices have fallen over the last decade and there is still no strong stability.
Buying a house in Tuscany: what to watch out for
In addition to the usual recommendations you will find in this blog (such as evaluating the value of the property and check all the documentation ), here are a couple of tips I would like to give you:
- Check the areas at hydrogeological risk . Some areas are at risk of landslides (especially in the hilly areas) or floods (as happened in florence in 1966 and Livorno in 2017 )
- Check if the house you are buying is protected as an artistic-cultural asset or if there are any restrictions on < strong> landscaping . The Tuscan real estate patrimony is very old and linked to the territory, the authorities do a lot today to protect it. However, this protection could result in some “constraints” for you as the owner.
Homes-for-sale in Tuscany: bargains
To help you find the best bargains on the market, I have created a selection of all homes for sale in Tuscany for less than 1000 € / sqm. Just click on the image below.
The list is constantly updated automatically, I hope it will be useful for you to find the best opportunities.
Houses for sale by the sea
Many dreams of living near the Tuscan sea, and maybe your dream could come true. The average price for a house near the sea is 2900 € / sqm
For your pleasure, here is also a selection of all the houses in the vineyards of the sea.
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