January 2023: Tuscany will never be cheap, it’s too beautiful for that. Surveys and analyses repeatedly confirm that it is the most popular region for buying real estate in Italy.
Our region south-east of Pisa is particularly popular. The proximity to the sea, many beautiful hilly locations and easy access to airports are among the plus points. Added to this are the art and cultural cities of Livorno, Lucca, Volterra and San Gimignano, which are grouped around the centers of Florence and Pisa.
Why have prices for real estate in Tuscany fallen?
Nevertheless, prices have also fallen sharply here in recent years. Regions such as Maremma, northern Tuscany and areas further away from the sea are priced even lower. Why are property prices falling? After all, we are talking about a fall in prices of 30 to 50 %, which is quite a lot. One of the main reasons is the ongoing economic crisis, which is having a whole chain of consequences. People tend to look for work in the city, and young people do anyway. From this perspective, living in the countryside is rather inconvenient. Commutes to work are long and fuel is expensive. The elderly have often bought property for their children. Now they have to realize that the children are moving from their lovingly built nest to the larger cities.
Many people have a main residence in the city and a second home in the country. They get older and their beloved country home becomes a burden. As a result, many Tuscany properties are being sold. As financially strong customers are currently somewhat scarce, prices have fallen. The money is often urgently needed to improve their pension. Others can afford that long-dreamed-of trip around the world or spend the money on a new house for their children in the city.
And who buys in Tuscany? The romantic art, culture and wine lover in need of peace and quiet who has long dreamed of a house in one of Europe’s most beautiful regions. Now is exactly the right time to take this step!
What can investments achieve?
The aim cannot be to leave Tuscany entirely to the Italophile foreigners, but to create a friendly coexistence. If you look at the whole cycle, it still creates new jobs. Houses have to be extended and later often looked after. Perhaps they will be rented out. The new owners go shopping in the region and will do a lot to preserve and maintain Tuscan traditions and culture. As a result, village life can remain interesting for young people and there will be an influx of new residents. Just like in Lari, where the population is slowly but steadily increasing, new stores are opening and not just old people can be seen.
Personally, I am grateful for any investment here in Tuscany that helps to preserve this beautiful region.