Real estate law

What to Buy in Italy in 2024: two unique House Deals in Siena and Florence

FlorenceTuscany

villa luxury siena outside land

The Incomparable Life of Luxury in Tuscany

If sipping on a cappuccino one sunny morning sitting in your garden whilst admiring the rolling hills and vineyards of Tuscany sounds terrible to you, then please, don’t read on…

It happens to all those who love good taste, elegance, and comfort. First, you come to Tuscany on vacation, perhaps staying in a luxury hotel. You had a wonderful time, but the experience wasn’t enough, now you want more. You take time for your holidays by renting an exclusive luxury Tuscan villa in the Chianti Florentine hills, among vineyards and charming estates, or in Forte dei Marmi, in Versilia, between the white marble and the sea. There, now it’s done. You have fallen hopelessly in love with Tuscany. Now your dream is to buy a house here.

Dreaming about Your Luxury Stay in Tuscany?

There are some things that reliably don’t change in life nor deviate from the dream that you are presented with on TV and in films; and the beauty of Tuscany is one of them. Walking through the cobbled streets of Siena, Arezzo, Florence, Lucca, Pisa in the warm air of May, hearing the drift of live music ahead coming from the local piazza, sitting down for a glass of fantastic wine outside and treasuring the heart and soul-warming scenery, Tuscany is a part of Italy that just never loses its high quality appeal. 

You might be wondering how you could buy real estate as a foreigner in Italy and we can reassure you that this is something we help our clients with every day. 

What can I buy there and what are prices like right now?

Here with go with two examples of luxury Tuscan stays with affordable prices.

A converted and restored Church near Siena with land for less than 500k euros

If you love the idea of beautiful historical architecture, but with a modern upgrade, then this Converted Chapel could be right down your street:

villa luxury siena inside
villa luxury siena outside land

https://www.casaandcountry.com/property/apartment-design-sale-tuscany

At Italy Law Firms we can guide you through the process from start to finish, ensuring you are safely guarded against problematic situations and negotiating on your behalf to reduce your outlay.

A luxurious villa with wine cellars, frescoes, pool and 8 hectares of land on the hills just a short distance from the center of Florence

If you prefer to spend a bit more to be just 15 minutes from walking amongst the sculptures of Michelangelo in Central Florence and enjoy your time in a beautiful villa with breathtaking views, then this luxury villa could be more your cup of tea: 

https://www.casaandcountry.com/property/florence-mansion-house-tuscany

Worrying that Italy might not be a stable place to invest?

Italy’s luxury real estate market has generally been stable, with resilience to economic fluctuations. A lot of this can be put down to its cultural appeal which contributes to the enduring attractiveness of Italian luxury properties. If you can imagine that Italy has, as of 2023, 59 listed UNESCO World Heritage sites, making it the state party with the most World Heritage Sites. Add to this relative political stability and world famous food and wine and this means a constant influx of investment into the property market.

Who buys in Italy?

Italy has consistently attracted foreign investors seeking luxury properties. In the past we saw a regular stream of International buyers, particularly from Russia, China, the Middle East, and the United States, however, in recent years we have seen an increase from the rest of Europe and the UK, as Italy has become more liveable (an increase in Italians speaking English, stricter regulations in many sectors creating more stability and ease of living) and luxury still remains within reach.

The increase in demand for luxury apartments in city centers has been notable, with an emphasis on high-end amenities, security features, and proximity to cultural attractions. However, there are so many wonderful parts of Italy, that it offers a diversity where there is something for every taste.

If you are hesitating to purchase your next real estate in Italy, then sip on a glass of Chianti and consider these further 9 reasons you may want to buy here in Italy in 2024:

1. Cultural Heritage and Aesthetic Appeal

 Italy is renowned for its rich cultural heritage, historical landmarks, and beautiful landscapes. Investing in luxury property in Italy allows individuals to own a piece of this cultural and aesthetic treasure. You cannot put a price on this.

2. Stable Real Estate Market

Italy’s luxury real estate market has historically been stable, offering a relatively secure investment environment. The enduring appeal of Italian properties contributes to their potential for long-term value appreciation.

3. Tourism and Rental Income

 Italy is a top tourist destination, and owning luxury property in popular regions can provide opportunities for short-term rentals. Tourists often seek unique and high-end accommodations, offering the potential for rental income.

4. Quality of Life

 Italy is known for its high quality of life, with a pleasant climate, excellent cuisine, and a relaxed lifestyle. Investing in a luxury property in Italy can provide not only a financial asset but also the possibility of enjoying a comfortable and enjoyable lifestyle.

5. Residency and Citizenship Programs

 Some countries, including Italy, offer residency or citizenship programs for investors. By investing a certain amount, individuals may qualify for residency or citizenship, providing additional benefits such as visa-free travel within the Schengen Area.

6. Historical Properties and Architecture

 Italy boasts a wealth of historical properties, including castles, villas, and farmhouses. Investing in such unique properties can be appealing to those interested in historical architecture and the preservation of cultural heritage.

7. Diversification of Investment Portfolio

 Including international real estate in an investment portfolio can provide diversification, spreading risk across different markets. Italy’s real estate market, particularly in the luxury segment, offers an opportunity to diversify a property portfolio.

8. Potential for Capital Appreciation

 Luxury properties in prime locations often have the potential for capital appreciation over time. As demand for high-end real estate remains strong, the value of luxury properties in desirable locations may increase.

9. Stable Legal System

 Italy has a well-established legal system, providing a transparent and secure framework for property transactions. This stability can be reassuring for investors seeking a reliable legal environment.

This is Italy. Owning a property here is going to provide you with one of the best pleasures of life. Need we say more?

Above all please remember to consider Italy’s Legal and Regulatory Environment:

Changes in legal and regulatory environments, such as tax incentives or restrictions on foreign buyers, can influence the luxury real estate market. It’s essential to work with a reputable law firm to stay updated on any legal developments that might impact property transactions.

Whether you’re seeking to purchase a hotel, convert a farm stay into an agriturismo, transform a villa into a boutique hotel, or find your ideal vacation home, ILF is here to assist you.

If you want further information about the real estate market in Florence and Tuscany, consult this page.