Property in Tuscany attracting international buyers
Tuscany has always been a region popular with overseas property buyers and as prices have been falling it is becoming even more so, especially for those looking for a holiday home. It is the third most visited region in Italy with almost six million international visitors annually and holiday home prices on Tuscany’s coast, while not as bullish as Portofino, Porto Cervo or Capri, are among the highest in the country.
As one of Italy’s key cities, the Tuscan capital of Florence generates robust prices but remains more accessible than Rome, Milan, Venice and Naples. Recently uncertain economic conditions, including the eurozone wide financial gloom, have led to a reduction in house buying activity. Transaction numbers in Italy fell by 33% between their peak in 2006 and 2011, and a further 7% annual decline is expected in 2012 when these figures become available. [click to continue…]
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