It’s a powerful word, Tuscany. It excites the imagination like the names of few other regions. Redolent of culture and sophistication, it comes as no surprise to hear that the rich and powerful are still drawn to Tuscany for their hols. Envision ‘Tuscany’ and the images come thick and fast. Gorgeous Renaissance Florence with its epic dome and its halls of entrancing canvases. Entrancing Siena with its colourful, madcap Palio. Rolling green and gold hills topped with quizzical cypress trees. Stout farmhouses in honey-coloured stone. Perfect cathedrals towering above terracotta rooftops. The mental pictures unfold in postcard-perfection. For many lovers of Italy, Tuscany is the definitive Italian region. And when it comes to buying a home in Italy, no other region is more highly prized.
        The modern phenomenon of foreign homebuyers in Italy all began in the Tuscan countryside about forty years ago, when a steadily growing band of Brits, other northern Europeans and Americans started buying up old cheap farmhouses in the idyllic landscapes of the region’s centre. As news of their success spread, ever more buyers came to Tuscany and property prices climbed accordingly. Now, as the longest-established and best-known place to enjoy a spot of rural dolce vita, Tuscany famously has some of the highest-priced country property in the world. If you found a farmhouse in central Tuscany for €500,000, you’d be doing well. More usually you’d expect to pay €700,000 and upwards. But Tuscany is a big place, and not all of the region is expensive. There are beautiful areas where you can buy a ruin to restore for as little as €60,000, or a fully-restored country home for as little as €100,000. Village homes are particularly good value across much of Tuscany, and you might get one for between €80,000 and €120,000. The secret lies in knowing where to look.

WHY TUSCANY? WHY NOW?
Most estate agents agree that prices in Tuscany are about twenty percent lower today than they were two years ago. This isn’t so much a ‘crash’ as a correction of many unrealistic and over-inflated prices. Further falls are not anticipated. Instead, prices are expected to stay at their current level for the next year or so. Which makes now is a pretty good time to think about buying in Tuscany. The region is still judged a very ‘safe bet’ as a place for overseas property buyers to put their money. Tuscany still enjoys an untarnished reputation and no loss of desirability. Significantly, the very rich are still buying property here. The upper end of Tuscany’s property market has been the least affected by the recent recession. [Time of writing is 2011.]
        So what keeps the rich buying here, and the rest of us wanting to buy here? Tuscany has some distinct advantages. There are the obvious things like the lovely climate, the beautiful countryside, the superb food and wine, the stunning art and architecture, the reliable infrastructure, good travel links and the welcoming people. And then there are the added things that ensure properties in the region will hold onto their value for a very long time to come. There are a limited number of homes here, and strict limits on new building – so demand is always going to outstrip supply. Limits on new building means the character of Tuscany’s countryside in particular is preserved, ensuring its long-term desirability. Furthermore, building and restoration style are regulated, protecting the look and feel of the region and, again, safeguarding its appeal. You can’t just knock up any old structure in Tuscany. It has to look right.
        Tuscany isn’t without its disadvantages, of course, and it’s worth mentioning those for a moment. The strict regulations on building which serve the region well in so many ways can sometimes frustrate the more adventurous of builder-restorers. If you’re looking to restore a property in Tuscany, it is generally a bit more difficult and expensive to do this now than it was five or ten years ago. On the flip side, buying somewhere that has already been loving restored can be very good value right now, and there are quite a few properties like this on the market. One certain disadvantage to Tuscany is, unfortunately, an occasional overabundance of other people. There are times of the year when you’d be ill-advised to visit teeming Florence, for example. And some towns and villages in Chianti country contain more ex-pat than native residents, which can alter their character in ways you may not like. Most buyers in Tuscany, however, seem to have no complaints about the region.

WHERE IN TUSCANY?
Because certain parts of Tuscany are so much more expensive than others, it’s crucial to have a rough idea of how the market changes across the region. You need to know what areas you should and shouldn’t consider, depending on your budget. The priciest places continue to be the ‘Chiantishire’ area between Siena and Florence, the northernmost third of Tuscany’s coastline, the city of Florence, and the Monte Argentario peninsula-cum-island in the south. There’s an awful lot of money sloshing about in these gorgeous places, and if you can afford to join the lucky owners here, do so. All are a sound investment, and their holiday rental prospects are excellent. As a rough guide, Chiantishire farmhouses start at about €500,000, and two-bedroom apartments in central Florence get going at about €270,000.
        The very cheapest areas of Tuscany tend to be on its northern and southern fringes. The far north is a leafy, mountainous place well-situated for daytrips to Florence, for skiing in the Apennines, for gastro-trips into Emilia-Romagna and beachy daytrips to the heavenly coast of Liguria. Look into the Garfagnana and Lunigiana areas, where there are restored rural and village homes available for less than €130,000, and homes to restore for less than €80,000. The beautiful small northern city of Lucca itself remains a great place to buy, with very good-value property. You might pay around €180,000 for a two-bedroom apartment here, or a similar price for house in the lovely countryside nearby. Southern Tuscany, meanwhile, is a rugged, spacious place with a very low population and long, empty beaches. You can pick up quite inexpensive properties here. Local attractions to visit include the otherwise expensive delights of Monte Argentario and the wonderful Lake Bolsena area in northern Lazio.

In Tuscany’s far east, Volterra is another area recommended for good-value property, as are Cortona and Arezzo. Here you might find restored properties for as little as €100,000. Obviously, it’s most important to find an area that appeals to you personally. Nothing beats spending some time travelling around Tuscany to experience its considerable variety and to discover the places where you might like to have a home. If you’ve always assumed that Tuscany must be beyond your budget, you’re likely to find some surprises. And if you’re looking to make a good, safe investment, this region is likely to leave you spoilt for choice.

WHAT ABOUT HOLIDAY LETTING?
Some estimates say that as much as a third of all foreign visitors to Italy go to Tuscany. That might be a slight over-estimation, but the region is certainly very, very popular. Lots of visitors, of course, mean strong prospects for owners planning to offer holiday rentals on their property. You’re unlikely to struggle very hard to fill your rentals calendar in Tuscany. That said, there are now plenty of homes all across the region competing for rental clients, so you will still have to choose the right kind of property and market it well if you want rentals to make a significant contribution to your running costs. You probably already know that a home in the countryside really ought to have a pool to appeal to rental clients, and that any property in a town or village is far more rentable if it has some private outdoor space such as a garden, patio or terrace.
        What about marketing your property? If you want the advantage of appearing on one of the big, well-known rental websites such as Owners Direct or Holiday Lettings, be aware that their standards are very high and that your property will be subject to approval before it can be listed. Scroll through some sample properties to get a flavour of what’s out there. Contact the sites directly to ask their requirements. Even if you’re planning on joining one of these well-known sites, it’s still a good idea for your property to have a website of its own, too. Invest in a well-designed one, with a good standard of photography. And don’t forget the power of print advertising! Many magazines and newspapers feature holiday home ads, and they are still a very effective way of getting your property noticed. With so much online these days, print advertising can actually make your home more distinctive and noticeable.
        Whether you’re going to offer holiday rentals or just keep your property all to yourself, and whether you’re lucky enough to be able to buy in one of Tuscany’s most expensive locations or you choose to save cash in one of the region’s lower-priced areas, one thing is certain: owning a home in Tuscany is going to give you a certain sense of caché. Wow, you bought in such a coveted place! But you aren’t doing it for kudos, of course. You’re doing it because it makes so much sense. A safe investment, a wonderful lifestyle, and a simply stunning part of the world.

www.tuscanyrealestate.co.uk
www.propertyinitaly.co.uk

www.italianproperty.eu.com
www.casatravella.com
www.knightfrank.it

www.livingintuscany.eu

www.extravirginproperties.com

www.realestateforsaleinitaly.com
www.prestigeproperty.co.uk
www.TuscanyReal-Estate.com
www.jackson-stops.com
www.housesintuscany.com
www.dimoretoscane.com
www.italianpropertygallery.com
www.larchitrave.com
www.solarihomes.com
www.geocasanet.it
www.housesintuscany.net
www.tuscany-inside-out.com
www.toscanarestoration.com
www.fondellicostruzioni.it

Florence

Stuffed full of exquisite paintings, sculptures and churches, Tuscany’s capital city is a magnet for lovers of art and architecture. Long adored by the British, Firenze has no shortage of British home-owners and full-time residents. Traffic-choked, crowded in summer, and hemmed in by industrial outskirts it may be, but there’s no denying Florence’s charm and beauty. Many ex-pats from various Western countries have succumbed and joined the city’s half a million inhabitants. Many others have recognized the potential profit in owning a second home here and renting it to holidaymakers. Visitors come to Florence almost year-round, and city-centre apartments are constantly in demand. Central one-bedroom apartments start at about €200,000, and two-beds at about €350,000. Prices drop as you move out of the centre, but so do holiday rental rates. You might expect as much as €1,000 per bedroom per week on a very central flat.

The north

The lovely little city of Lucca and its surrounding countryside first came to the attention of foreign buyers about fifteen years ago. Since that time, property prices in the area have generally doubled. Yet despite this increase, homes round here are still good value. A two-bed property in Lucca itself might ask €250,000. North of Lucca, the low, leafy mountains of the Garfagnana and Lunigiana areas offer very good deals for property-hunters. You might find an unrestored farmhouse for as little as €60,000 and a restored home in one of the area’s many attractive villages for just €125,000. But these are starter prices. Note that the extreme north of Tuscany is within easy daytripping distance of Liguria’s coastal delights and the sophisticated charms of Emilia-Romagnan cities such as Parma.

The coast

Except for its modestly-priced southern stretch, Tuscany’s seaside is one of the region’s most costly areas. Whether the northern beaches are more attractive is a matter of taste, but they are certainly more populous. Viareggio is the biggest resort – a teeming place of faded grandeur where property costs are high. North of Viareggio the resort towns are backed by pretty mountains, and south of Viareggio by pinewoods. South of Livorno, the coast grows a bit scrubby and characterless, with lots of campsites dotted around. The southernmost third of Tuscany’s coast, meanwhile, is definitely worth more attention than it receives. This is a wild and unspoilt area with a distinct charm. And property here is certainly good value. Much costlier, and undeniably gorgeous, are the offshoots from Tuscany’s coast – the islands of Elba and Giglio, and the leafy peninsula of Monte Argentario.

The centre and Chiantishire

Central Tuscany sees the rolling hills, arcing vineyards and zigzagging lines of cypress trees that form the popular British idea of Tuscany – indeed of Italy as a whole. The landscape is like the background of a Renaissance painting – and strict, sensible restrictions on building keep it looking that way. The triangle formed with Siena, San Gimignano and the Chianti hills at its three corners outlines the traditionally most popular area for foreign buyers in Tuscany. This includes the fabled ‘Chiantishire’, where large numbers of well-heeled foreign buyers have bought properties over the last forty years. Officially, this area has the world’s highest priced rural property. An old farmhouse needing restoration would set you back by at least €500,000, and a ready-restored one is likely to ask more than a million. If you can afford it, and you enjoy the company of fellow ex-pats as well as Italians, by all means buy here. The area is exquisitely beautiful. Demand for properties is still high in central Tuscany. The holiday rental prospects on a home here are very strong.

The east

While certain stretches of Tuscany’s east are now fairly familiar to foreign buyers, other parts are only now being discovered and currently offer very good value for money. Many estate agents single out the Arezzo area as a good place to buy. The prosperous and lively city itself has reasonable prices, with two-bed apartments in and around town starting at about €150,000. Out in the surrounding countryside, meanwhile, you can pick up restored and unrestored homes from €100,000. Charming nearby Cortona and Montepulciano, both built on high and giving stunning views, are rather pricier – with central two-bedroom apartments asking about €300,000. This eastern stretch of Tuscany has an extremely attractive landscape, with stripy vineyards and so on. It has the added bonus of easy access to lovely Lake Trasimeno and, further east, the enchanting hilltowns of Umbria.

The south

Tuscany grows increasingly wild and rugged as it inches south towards Lazio. The landscape isn’t strictly mountainous, but muscular and expansive. The population drops, and the geography throws up striking features like bald tufa outcrops, isolated high hills, sulphur springs and the drained coastal marshes of The Maremma. The south is probably Tuscany’s least-known stretch, and property prices down here are among the lowest in the region. Of towns in Tuscany’s south, rock-perched Pitigliano and spring-riddled Saturnia see a respectable number of visitors, Sorano and Sovana have notable Etruscan relics, and many other settlements simply offer a peaceful, handsome little place to settle down. Southern Tuscan roads are small, uncrowded, and few – perfect for a quiet life. The sea is never far way, nor is the delightful, crystal-clear Lake Bolsena just over the border in Lazio.

OUR HOME IN TUSCANY
Mike and Carol Barton from Bedfordshire were among the pioneering early British buyers in Tuscany. They bought a four-bedroom villa in a northern Tuscan village in 1988, and have been visiting and offering holiday lettings ever since.
        “We were originally thinking about buying a property in Norfolk,” Mike explains, “but then we went to a property exhibition in London and it gave us the idea that we could actually buy a home in Italy instead. Back in the 1980s, buying a holiday home in Italy wasn’t such a common idea! After the exhibition, we enjoyed one of the best summer holidays we’ve ever had, touring round Umbria and Tuscany looking at potential properties to buy. We’d already worked out that we couldn’t afford the ‘Chiantishire’ area, so we looked north of Lucca, and it was here that we eventually found our Villa Landi.
        “It’s a detached property in a small hillside village about eight kilometres from Bagni di Lucca. When we bought it, it was habitable, the structure and the roof were sound, and we didn’t really have to do a great deal except redecorate. We moved the kitchen from one room to another, and put in a second bathroom. And we put in a pool. The local labourers we used were very good. I’d advise anyone buying in Italy to use the people on their doorstep. Life is very localized in Italy, and it really makes you part of the community when you employ local people. We have a very fortunate arrangement with a chap who lives in the village. Even if we’re not there and something goes wrong in the winter, he’ll fix it immediately – replacing roof tiles and so on. We just sort it out and pay him the next time we’re there. The local people generally have been excellent – extremely helpful and welcoming.
        “We always planned to offer holiday rentals to cover our running costs. It’s a good idea to know from the start if you’re going to offer rentals because then when you set out the house you equip it accordingly. You don’t fill it with breakable antiques, for example! We visit about six times a year. I love the peacefulness of the place, the ambience of the area, the relaxed way of life. It’s lovely being part of the village. We have all necessary facilities like shops and restaurants within walking distance. When we bought our villa, we were the only ex-patriots there. Now there are quite a few other British owners. One good effect is that the villages are coming back to life. There are more children and local people are moving back in. Houses that once were derelict have been restored.”  
www.lucca-tuscany.co.uk


OUR HOME IN TUSCANY
Christine Toffolo, based in East Yorkshire, owns a three-bedroom country home in the hills north of Lucca. She enjoys several visits a year, and offers holiday rentals.
        “My husband’s family were Italian,” she explains, “and I had an Italian great-grandfather, so we were always drawn to Italy. We’d visited most Italian regions, with and without the children. Although his family were from the north, near Venice, we just loved Tuscany, and in particular northern Tuscany – for its scenery, its beautiful rolling hills. Tuscany’s north is more lush and green than further south, and it’s less touristy. House prices are lower, and the restaurants and shops don’t overcharge as they often do in Tuscany’s more visited areas. The road network is good, with easy access to airports, beaches, mountains and many historic towns. And of course the people are very friendly and helpful, too. Lovely country people.
        “After my husband died eleven years ago, I spent three years looking for a holiday home in Italy. I investigated lots of different areas, including the whole coast of Liguria, but I kept being drawn back to northern Tuscany. I eventually chose my property because of the huge amount of garden surrounding it – almost three acres, most of it going up the hillside. I didn’t have to restore the building, I just had to sort out the garden – it was completely overgrown, almost swallowed up by the woodland. Now the garden is full of space and sunlight, with sunny terraces and a pool. The house is off the beaten track, a mile from the village a pleasant twenty-minute stroll away. It’s a beautiful setting, so quiet and scenic. The area is great for walking.
        “One of the biggest helps I had was finding the right estate agent. So many of them would show us things that were in the wrong budget or that didn’t really tick our boxes and actually wasted our time. But the local agent I eventually found, Barbara Marovelli of Geocasanet, showed me only the kinds of things that I actually wanted to see. Her brother is a geometra, and the whole family as a company looked after me and pointed me in the right direction.
       “The rentals side has been successful. It’s mainly June to September. Because I spent so many years with my husband staying in self-catering places, I made an ‘I would do this and I wouldn’t do that’ list. I always ask my guests to comment, to make suggestions for improvements. Even little things can make a big difference. I’ll definitely continue to offer holiday rentals, and my eventual plan is to retire out there.”  
www.villagiuseppe.com


OUR TUSCAN COUNTRY HOME
Michael and Eleanor Eddershaw, based in south Wales, own an idyllic eight-bedroom villa in wine-country near Montalcino. They rent the place to holidaymakers throughout the warmer months, and enjoy visits there in spring and autumn.
        Michael fell in love with the area fifty years ago during his student days. “I was walking the length of Italy, accepting lifts now and again. I went all the way from the Alps down to Sicily,” he explains. “In the southern half of Tuscany I remember walking down the Val d’Arbia and being struck by how beautiful it was. The flowing countryside was like waves in the sea, a green sea with little cypress trees sticking up now and again.” Twenty-five years later, when Michael and Eleanor began thinking of buying a home abroad, Michael’s thoughts returned to southern Tuscany.
        “We only wanted a little cottage!” he laughs. “But back then all the homes scattered around southern Tuscany were huge abandoned farmhouses. An architect and old university friend who had settled in San Gimignano, Michael Goodall, knew lots of houses and showed me a photo of Montelandi. It was completely overgrown, and when we finally found it we had to use machetes to reach it! It had been deserted a generation earlier. The local gentry family had simply left, and gone to Livorno. The house was perfect for us. People in the village had been calling it ‘Villa Lila’ because there were lilacs all around it. It was buried in them.”
        Restoring Montelandi to its former glory was a major undertaking. “First we had to raise the huge roof beams back into place because they were all on the ground,” Michael recalls. “I took half the Llanelli rugby team out there with me, because I needed eight big strapping lads to lift them!” Work continued at a leisurely pace over the next decade, and now the property is stunning. “It’s a big place,” Michael says. “Several families can get together there. It can sleep about eighteen, so it’s perfect for house parties. There’s a big apartment down below; there’s a pool, an orchard, a vegetable garden, and fourteen acres of woodland. The front terrace looks across at the little wine town of Montalcino, and we’re within the Brunello wine territory.”     
        Michael and Eleanor have many annually returning guests. Paying guests have certainly been a bonus, but making money from the property was never the couple’s chief motivation. “The place costs a lot to run, and to pay all the staff,” Michael says, “but to us it’s a family home rather than an investment. We love it, we love the Italian way of life, and we love the local people.”   
www.montelandi.com