Property guide for those interested in buying a property in Tuscany. Plus, find a home in the rest of Italy.

Tuscany is one of the 20 regions of Italy. It is located in the centre of the country and covers an area of 22,990 square km. Around 3.6 million people currently live there.

Bordered by Emilia-Romagna to the north, Liguria to the north-west, Umbria and Marche to the east and Lazio to the south-east, Tuscany is a hilly and mountainous region in general.

To find property in Tuscany and more Italian property, visit: www.justoverseas.co.uk/propertyinitaly

Its main plain is located in the valley surrounding the Arno River.

Tuscany is known for its landscapes and its artistic legacy. In fact, six Tuscan localities have been made UNESCO protected sites. These include the historical centres of Florence and Siena, the square of the Cathedral of Pisa, the historical center of San Gimignano, the historical center of Pienza and the Val d'Orcia.

Florence is the capital of the area and boasts a population of around 366,901. The city's cathedral, the Santa Maria del Fiore, is famous the world over for its impressive domed roof. Other landmarks in the city include the Ponte Vecchio and the Uffiza. This is one of the oldest and most famous art museums in the world and now houses paintings by Leonardo da Vinci, Titian, Caravaggio and Raphael.

Other notable towns in the region include Siena and Pisa.

Pros to Buying Property In Tuscany

As a result of its natural beauty, fantastic art and world-famous food, the region has attracted numerous Brits keen to buy second or investment homes.

While the towns in the region are popular tourist attractions, many people looking to purchase homes opt to buy in rural areas and especially rundown buildings which can be seen as renovations.

According to Channel 4's property guide, "Tuscany leads Italy's beauty stakes" and has become one of the most popular areas for people to look to purchase second homes.

Cons to Buying Property In Tuscany

But houses in the region are not as cheap as in some other Italian states. The report noted: "In the region of £250,000 will buy you a city apartment, bank on £400,000 and upwards for a villa with land, or £125,000 plus for a rural property in need of renovation."

Adrian Bishop, editorial director of newskys.co.uk told the website: "The days of bargain rural properties in Italy are certainly not over, though finding one in Tuscany (otherwise known as Chiantishire to many Britons) could prove a challenge.

"As the low-cost airlines continue their advance across Europe's regional airports, canny locals know that as soon as a route opens they can increase the price of their property."

Figures from overseaspropertymall.com seemed to recently indicate that property price growth in Tuscany peaked in the years between 2000 and 2002, but has since dropped down to around five per cent annually.

In general, reports suggest that property prices in Italy could be stalling somewhat. Figures from globalpropertyguide.com show that property in the country costs 6,083 euros per square metre and that house prices have jumped by close to 100 per cent in the last decade.

However, the website's report noted that prices in the country "are showing signs of slowing down". House price inflation was just 6.3 per cent in 2006.

In particular, the slowing economy, combined with Tuscany's previous popularity means that investors need to be careful when looking at the region.

Specifically, Channel 4 warned people thinking of buying cheap but derelict rural properties in the region that planning laws made it very hard to modernise homes and generate impressive returns.

The guide explained: "Planning laws basically dictate that a ravina [the Italian term for a run-down rural property] or other ruined rural building has to be restored to the state that it was in before it fell into disrepair.

"If modernisation and contemporary design is on your mind, you'd better not invest here. Even adding new windows, building a small and discreet extension or an out-of-sight swimming pool are off the cards apart from in the most exceptional of circumstances."

What you Need to Know Before Buying Property in Italy

What's more, buying a property in Italy is quite complex as the process is regulated. Someone who has found a home and secured a mortgage deal needs to make an offer through the selling agent.

Anyone with financial dealings within the country needs a Codice Fiscale - or tax code. This is obtained from the local tax office.

Back to Overseas Property Guides Index Page

© Adfero Ltd