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Restoration Property in Tuscany

By Simone Rossi

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Published: 15Mar2010
Word count: 590
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If we want to discuss about restoration properties in Italy we cannot not start from Tuscany. Restoration is inside Tuscany's DNA and it is considered to be one of the main factors that triggered the great success that properties in this region have had in the last 30 years all over the world.

If we want to better understand the market of restoration properties in Tuscany we need to make a leap back in time, when Tuscany was just an area of central Italy with famous cities full of art and history, wonderful nature and, most of all, a lot of run down properties located on a jaw dropping scenario. The visitors fell in love with such a beauty and started to gain information about those run down properties and, once they found out that they were given away nearly for free due the complete lack of interest in those ruins, these first property investors started to buy and to restore these properties. This happened especially in an area between the cities of Florence, Siena and Pisa called Chianti and that, after the word was spread, took the name of Chianti-shire.

Nowadays it is very difficult to find a typical Tuscan farm house to be restored, especially in the Chianti area, where all the run down real estates have already been restored. This has made the prices of renovation properties increase considerably and is not unlikely to find properties in such bad conditions that need to be pulled down and completely rebuild for "just" €400,000. But of course Chianti is a very beautiful and prestigious area of Tuscany and if the prices are so high it means also that the demand is as high as well.

Apart from Chianti, Tuscany offers good opportunities all across its territory. Another top end area is Versilia, maybe more popular within Italians than non Italians. Versilia is the coast side of the province of Lucca and, especially in the city of Forte dei Marmi, prices can go up to €14,000 per square metres.

For all of you that do not have this type of budget do not despair, there's a part of Tuscany for your pocket too! For instance there are two areas of Tuscany that are becoming very popular but that still offer very good deals: Lunigiana and Garfagnana. Lunigiana is the northern tip of Tuscany that someone calls "the finger of Tuscany" in the province of Massa e Carrara. It is a very beautiful area, with a completely different landscape than the "famous" Tuscany, but nonetheless appealing as it is more mountainous and offers amazing views. Here prices are still very affordable and homes to be restored can cost as little as €80/100,000. Garfagnana on the other hand, is the inland part of the province of Lucca and, despite the high prices of the city of Lucca and Versilia that, as seen above, is one of the most expensive areas in Italy, it is a very attractive area with a good availability of restoration properties and prices that are similar to Lunigiana's.

As previously said, these two areas are becoming ever more popular, so if you are interest you need to move quickly if you want to put your hands on one of the many investment opportunities before prices go up too much.

Despite Tuscany is one of the oldest property market to attracts foreign investors, it has still so much to offer that it keeps, after all these years, the lead of the ranking of Italian regions as the most appealing property market in Italy.

Simone Rossi is an expert of property in Tuscany and homes for sale in Le Marche for the Italian property portal Gate-away.com

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