It is not difficult to find reasons to invest in Tuscany, a timeless tourist destination with a truly diverse offering. The region is a well-established property investment location, where the overseas buyers of today can capitalise on the low euro.
Tuscany is well-known for its breathtaking natural landscape, characterised by sloping hills and sharp mountains, cypress trees, elegant vineyards, and wild, white-sand beaches.
Tourists are drawn to the enchanting cities of Florence and Pisa, where Renaissance art and architecture reign supreme.
Just off the coast of the Tuscan Archipelago, you’ll find a small gathering of islands between the Ligurian Sea and the Tyrrhenian Sea. (Legend has it that these “seven treasures” are lost pearls which once adorned the crown of Venus.)
It comes as no surprise that Tuscany is one of the most-visited regions of Italy, as well as a favoured holiday home and property investment location. While the euro remains low and the dollar strong, Tuscany is one of many thriving European locations where overseas buyers can get more for their money than ever before.
Making the move to Tuscany
Following the pandemic and the rise of remote working, many people have chosen to relocate to countries that offer warmer climates, lower cost of living and a generally higher quality of life.
Unsurprisingly, Italy has emerged as a top relocation destination, with many keen to call the country home.
Additionally, now that travel restrictions have been lifted, people appreciate time overseas more than ever, and are investing in second homes abroad.
Over 1,000 global buyers named Italy amongst their top five holiday home destinations, and the country ranked in the top two for UK and US buyers.
Many of those that own a second home in Tuscany are keen to capitalise on its thriving tourism industry and lucrative rental market—with over 47 nationalities owning a holiday let in the region. As well as US and UK buyers, Tuscany is particularly popular with investors from Germany, France, and Switzerland. The average overnight rental price stands at €471, according to Engel & Völkers, making buy-to-let an attractive option.
Reasons to invest in Italy
As a renowned luxury hotspot, Tuscany has long attracted a large number of the world’s rich. In recent years, wealthy investors and expats have benefitted from the country’s “flat tax” incentive, which enables both domestic and international residents to pay a capped amount of €100,000 in tax per year on their global assets and income.
This is just one of many moves made by the government to stimulate growth. Named Country of the Year in 2021 by the Economist, Italy has been in the spotlight for its speedy growth and strong economic recovery.
Like many countries, it will not escape the war in Ukraine and the global energy crisis unscathed; however, having shown itself to be resilient in recent years, the country is on track for continued success.
If we turn our eye to the property market, prices remain stable compared to many other European countries; in light of economic instability and slowing house price growth around the world, this makes Italy an attractive investment option.
Love Tuscany? Contact us today to reserve your dream home in Italy.
