Buying a house in Tuscany in 2024 could be a great opportunity! Tuscany is one of the favorite regions for foreigners in Italy, and real estate prices in Tuscany are decreasing, making it an attractive destination for many foreign investors. In this article, we will take stock of the prices and real estate buying opportunities in Tuscany for the year 2024!
SUMMARY
- Why Tuscany is a Prime Destination for Property Buyers?
- Understanding the Tuscany Real Market
- Top Ares to Buy Property in Tuscany: Best Towns and Regions
Why Tuscany is a Prime Destination for Property Buyers?
The year 2024 showed a moderate growth in the real estate market in Tuscany. According to data from Immobiliare.it, as of November 2024, the average price of residential properties for sale was 2,488 euros per square meter, marking a slight increase of 0.24% compared to December 2023 (2,482 €/m²). The highest prices were recorded in June 2024 at 2,529 €/m², while the lowest values were seen in September 2024 at 2,481 €/m².
At the provincial level, Lucca stands out with the highest property prices at 3,336 €/m², followed by Florence (3,074 €/m²) and Grosseto (2,632 €/m²). On the other hand, the most affordable provinces are Pistoia (1,486 €/m²) and Arezzo (1,511 €/m²).
When it comes to rentals, in November 2024, the average rent in Tuscany was 14.90 euros per square meter per month, reflecting a sharp increase of 7.89% compared to December 2023 (13.81 €/m²). The highest rental prices are found in Florence (18.27 €/m²), while Arezzo has the lowest (7.97 €/m²).
Looking ahead to 2025, prices are expected to increase further. For example, in Florence, property prices are forecasted to exceed 4,500 €/m², representing a rise of over 200 €/m² compared to 2024. (Source: Immobiliare.it)
Buying a house in Tuscany remains a unique experience, combining historical charm, natural beauty, and an exceptional lifestyle. The region is renowned for its diverse options, ranging from luxurious seaside villas to charming countryside homes, allowing buyers to find their ideal property. Beyond its aesthetic appeal, Tuscany is famous for its excellent cuisine, fine wines, and relaxed atmosphere.
According to the sales director of Engel & Völkers Italy:
“Tuscany continues to establish itself as an ideal location for those looking to purchase a home or invest in a property for peaceful holidays or rest periods. This is why we are witnessing a growing interest from international clients, which will drive sales in the coming years.”
Understanding the Tuscany Real Market
In the first half of 2024, according to the analysis by FIAP Toscana, the Tuscan real estate market showed stable prices, with demand exceeding supply and reduced selling times, averaging between 3 and 6 months. However, some properties remain unsold due to uncompetitive pricing or specific issues not offset by adequate price reductions.
The ordinary residential rental sector continues to face challenges, impacted by the conversion of properties into resorts or luxury hotel facilities, often without reserving spaces for residents. This phenomenon, coupled with landlords’ preference for short-term rentals, limits the availability of long-term rental options.
Announcements from the European Central Bank about potential interest rate cuts have helped boost market confidence, despite an actual reduction of only 25 basis points in June. Further rate cuts are anticipated by the end of 2024, potentially bringing rates to more accessible levels and facilitating credit access.
The 2024 tourist season saw excellent attendance, reinforcing Tuscany as one of the most popular destinations for tourists. However, there was a noted decrease in the average length of stays, attributed to the general rise in costs and prices.
In summary, the Tuscan real estate market in the first half of 2024 maintained relative stability, with vibrant demand and growing confidence, though challenges remain concerning residential rentals and affordability for buyers.
Legal Requirements for Buying a Property in Tuscany
Understanding the legal requirements for Tuscany real estate is essential to ensure a smooth and secure purchase process. When buying a property in Tuscany, several legal steps must be followed to protect your investment. First, non-residents can freely purchase property in Italy, including Tuscany, without restrictions. However, having a valid tax identification number (Codice Fiscale) is mandatory for any legal or financial transaction, including property purchases.
- Before finalizing a deal, it is crucial to conduct thorough due diligence on the property. This includes verifying the ownership, ensuring there are no liens or unpaid taxes, and confirming that the property complies with local building and zoning regulations. Additionally, a preliminary agreement (Compromesso) is often signed to secure the deal. This agreement outlines the terms of the sale and includes a deposit, typically 10-30% of the property price.
- Engaging a notary (Notaio) is another legal requirement when purchasing real estate in Tuscany. The notary ensures the transaction complies with Italian law, prepares the deed of sale (Rogito), and registers the property with the Land Registry (Conservatoria dei Registri Immobiliari).
- Finally, buyers must be aware of additional costs, such as taxes, notary fees, and agency commissions, which can add 10-20% to the property’s purchase price. Consulting with legal experts familiar with Tuscany real estate can provide valuable support in navigating these requirements and ensuring a secure investment.
Budgeting for your Purchase: From Luxury Villas to Affordable Homes
If the project of 1 euro houses in Italy piques your interest, know that real estate in Tuscany is part of this initiative, though the availability of such properties remains limited. For those interested in exploring opportunities, the website casea1euro.it lists properties in its Tuscany section.
According to recent data from Immobiliare.it, there are several areas in Tuscany property for sale where prices have adjusted, presenting opportunities for potential buyers:
- Chianti Region: Renowned for its vineyards and scenic landscapes, this area has seen stable property values. While no significant price drops were noted in 2024, the region remains highly attractive due to its charm and investment potential.
- Montepulciano (Siena Province): This picturesque village, famous as the backdrop for numerous films and TV series, continues to be a desirable location. Properties here balance historical appeal with modern living, making it an excellent option for those seeking a Tuscany property for sale.
- Val d’Orcia and Garfagnana: Known for their breathtaking views and tranquility, these regions remain ideal for securing great deals on real estate in Tuscany. Buyers are drawn to the mix of natural beauty and affordability.
- Argentario: According to Immobiliare.it, the area experienced a slight decrease in prices during the first half of 2024, with some properties offering excellent value compared to prior years.
- Elba Island: The municipalities on this famous island have seen modest price adjustments, making it a noteworthy option for those seeking seaside homes or investment properties.
In 2025, experts forecast continued stability in Tuscany’s real estate market, with specific opportunities arising in less touristic areas. For anyone seeking Tuscany property for sale, these regions offer a blend of affordability, charm, and potential growth in value.
Finding the Perfect Villa or House in Tuscany
Finding the perfect villa or house in Tuscany requires time, patience, and thoughtful planning. It’s important to take the necessary time to evaluate various options and visit different areas, as each part of Tuscany offers unique characteristics—from the rolling hills of Chianti to the coastal beauty of Argentario, and the historic villages of Val d’Orcia.
Relying on trusted professionals, such as experienced real estate agents or local consultants, is essential to better understand the market and identify the options that best suit your needs. These experts can provide valuable advice on legal, bureaucratic, and logistical aspects, ensuring that every step is handled with care and precision.
Taking the time to explore, get to know the regions, and compare available properties will help you find the ideal home that perfectly matches your dreams and lifestyle. Tuscany offers a wide range of opportunities—from luxurious villas surrounded by nature to charming rustic homes in picturesque villages, there’s always the perfect option for every vision.
Top Ares to Buy Property in Tuscany: Best Towns and Regions
Not only natural beauty, history, or culture dictate the parameters of a choice such as buying a house in Tuscany, a true oasis located in the heart of Italy. The economic element also carries weight, as the need for secure investments is increasingly felt. Hence the question: where is it most advantageous to buy a house in Tuscany?
Let’s start by saying that there is no one better area, as each possesses characteristics that make them unique and inimitable. Choosing among the most well-known and appreciated, let’s start with Versilia, undoubtedly a region where many would like to own a house or villa by the sea in Tuscany, as well as a property or ancient farmhouse dating back to the Middle Ages. One of Italy’s most famous seaside resorts, it boasts globally renowned beaches, whose name evokes timeless beauty.
Among the seaside towns in Tuscany are Forte dei Marmi, Marina di Pietrasanta, Lido di Camaiore: these are VIP locations, known for their beauty of the environment but also for personalized services and a certain exclusivity.
In Versilia, it is possible to buy a prestigious villa, often equipped with a pool, or a renovated house: the price per square meter is proportional to the fame of Versilia, but that doesn’t mean it’s not possible to make excellent investments.
Moving a bit further south, the provinces of Pisa or Lucca also offer hundreds of solutions suitable for those who want to buy a house or villa by the sea in Tuscany. Marina di Pisa, for example, with its period houses or prestigious villas – the epitome of a lifetime dream – but also many localities known for their farms or villas that skillfully combine luxury with intimacy, the tradition of a millennium-old culture with the criteria of modern bio-construction.
The Province of Livorno means Costa degli Etruschi, a row of blue flags, beaches or cliffs overlooking villages and fairy-tale hamlets, from Castiglioncello, the Pearl of the Tyrrhenian Sea, to Bibbona, Bolgheri, Castagneto Carducci, Casale Marittimo, Suvereto. Inhabited since antiquity, as its name easily suggests, the Costa degli Etruschi is a continuous embrace of archaeological and naturalistic areas, of immaculate blue sea and hills rich in history and distant legends. It is a place of cultural events and shows that animate summer evenings, making it even more special and, for this very reason, worthy of the best dreams and investments needed to turn them into reality.
Now you know everything about the real estate in Tuscany. Are you ready to buy a house in Tuscany?
FAQs
1-Can foreigners buy property in Tuscany?
Yes, foreigners can buy property in Tuscany, but certain conditions apply depending on their nationality. Citizens of the European Union and the European Economic Area (EEA) have no restrictions and can purchase real estate freely. For non-EU citizens, Italy adheres to a reciprocity agreement, meaning they can buy property if their home country allows Italian citizens to do the same. This principle ensures equal rights between nations.
Additionally, non-residents are required to obtain a tax identification number (Codice Fiscale), which is essential for legal and financial transactions in Italy, including property purchases. While the process is straightforward, working with a local notary (Notaio) and trusted professionals is highly recommended to navigate the legal aspects, verify reciprocity agreements, and ensure a smooth purchase experience.
For those planning to move to Italy or spend significant time in the country, meeting these legal requirements is the first step toward owning a slice of Tuscany’s beauty.
2-What are the costs of buying a house in Tuscany?
The costs of buying a house in Tuscany typically include the property’s purchase price, taxes (such as registration tax, mortgage tax, or VAT), notary fees, real estate agency commissions, and legal fees. These additional costs can range between 10-20% of the property price. For example, taxes are generally lower for first-time homebuyers or primary residences and higher for second homes or non-residents.
3-Are there affordable homes for sale in Tuscany?
Yes, there are affordable homes for sale in Tuscany, especially in less touristy areas or small villages. While luxury villas and properties in iconic locations like Chianti or Florence can be expensive, regions such as Garfagnana, Val d’Orcia, and some smaller towns in the Siena or Arezzo provinces often offer more affordable options. Exploring these areas with the help of local professionals can reveal hidden gems.
4-How long does the buying process take?
The buying process in Tuscany typically takes between 2-6 months, depending on the complexity of the transaction. After identifying the property, due diligence, signing the preliminary agreement (Compromesso), and finalizing the deed of sale (Rogito) can take several weeks. Factors like the need for financing, property checks, or bureaucratic delays may influence the timeline. Working with experienced professionals can help streamline the process.