Florence is the third Italian city (after Milan and Rome) for number and extent of developing real estate projects and for attractiveness towards foreign investors, both institutional and private. This great interest for the Tuscan capital is explained both by a more general recovery of the Italian and regional market, but also
by the role of an administration that stimulates urban change.
Tuscany is among the first Italian regions for number of real estate trade in residential areas and in the central area, it is in second place after Lazio. With 35,500 buying and selling houses, in 2018 the region has cut out the 6.3 percent national transactions, and it will maintain the same weight even in 2019. For the current year, in fact, the trades are estimated around 39,500 units, continuing a growth trend that will record 11.3 percent more than 2018, slightly below the Italian average growth of 12.5% expected by the end of 2019.
In Tuscany, the weight of Florence always remains a priority compared to the other capitals, recording on average twice the number of transactions. The regional trend of sales and purchases since 2008 shows a constant alignment with the national one. Last year, the variation was maintained with a positive sign to 2.9 percent more on 2017, gave a more moderate as compared to 16.2 per cent more recorded in 2018. In general, the growth trend that is affecting the country continues to manifest itself also in Tuscany. In ten years, the buying and selling of the region are increased by the 9.1 percent and 10.3 percent in Italy.
At the level of nominal price averages, Tuscany has maintained stable values per square meter, with 0.5 percent less in 2018, while Italy has lost 0.2 per cent in the same period. In 2019 the region will reverse the negative trend, with an increase of 0.5 percent on the values of last year. According to estimates, even Italy will record prices slightly risen, by 0.3 percent over 2018.
The real estate market in Tuscany – states Mario Breglia, President of Scenari Immobiliari – does not stop at the first house, but rather offers interesting opportunities for the second home segment for foreigners and Italians, to be put on income or to be used during the summer holidays. For foreign buyers, Tuscany is confirmed as one of the first Italian regions for tourist resorts, together with Sicily. The favorite areas in these regions are maritime and cultural, but not too close to urban centers. You choose fashionable places, better if you are near particularly important and well-connected landscape sites. The residential market of Florence is now out of the crisis and continues on the positive trail that began some years ago. It is estimated that 5,300 trades for 2018, with an increase of 13.3 percent planned for 2019. The offer is around seven thousand units and the works of renewal and reevaluation of the existing through private investments are increasing, so the volumes will be moved by an offer dominated by used and unsold inventory, but mostly retrained. Turnover has been increasing since 2014 with just over 1.4 billion euros, to reach 1.5 billion euros for 2018, exceeding the volume reached in 2010.
Data measured by our Casa.it portal – comments Luca Rossetto, CEO of the Casa.it Group – reveal growth prospects for the Tuscan real estate market. The requests of users generated by our portal to real estate agents are a reliable indicator of future sales trends and show a regional average growth of + 35% compared to the same period of the previous year. In the provincial capitals there is a positive growth trend: Pistoia with + 58% of requests generated, followed by Livorno with a + 48% and Prato with a + 39%, while Grosseto and Arezzo are respectively at + 38% + 34% of requests generated compared to the previous year.
About the second home market from Italian buyers, Tuscany defends itself well compared to the rest of Italy. This segment of the residential market reported an increase in 2018 with 6.7 percent more and 38 thousand trades, of which ten percent was in Tuscany. Along the whole coast of the region it is possible to find prestigious tourist locations, which attract buyers from all over Italy and abroad every year. Prices in the seaside resorts in the last twelve months have increased by 3.2 percent on average, with a particular focus on Porto Ercole and Porto Santo Stefano in the province of Grosseto, and Forte dei Marmi, in Versilia, where prices range from 7,500 euro per square meter to 14,300 euro. The localities of Lucca, with Viareggio in first place, record the highest points in the market, with over sixteen thousand euro per square meter as maximum value. Follow Viareggio, Camaiore and Pietrasanta, with about ten thousand euros per square meter as the maximum value found.