Housing | Real Estate

Tuscany remains the top choice of investors looking to buy properties in Italy. But despite the global slowdown, its enduring appeal means properties in Tuscany do not always come cheap.

As an example, while prices across the United Kingdom plunged by 15.9 per cent in 2008 (according to the Nationwide building society) in Florence they fell just 1.9 per cent (according to Italian research institute Nomisma).

But there are bargains to be found in the property in Tuscany market – if you know where to look. One such place is the Maremma, at the southern tip of Tuscany. The Maremma – with more than 160km of beautiful coastline – starts from Follonica, south of Piombino, and stretches down to Monte Argentario. Eastwards it extends as far as the borders of Siena province.

And it is proving fertile ground for property in Italy bargain-hunters. In areas such as Sorvana, famed for its wine tours, a three-bedroom semi-detached house can be snapped up for around €200,000 while you can expect to pay €250,000-€300,000 for a similarly-sized detached house. A couple of hours’ drive north to Siena and you can treble those prices.

Other scenic towns in the Maremma popular with buyers and tourists include Saturnia spa resort and Pitigliano, its buildings famously hewn from the rockface.
Here, €100,000 will get you an apartment, ideal if you want to use it as a base to explore other – more expensive – parts of Tuscany.

However, the Maremma has more than enough attractions of its own and has drawn Italian and foreign holidaymakers for decades, ensuring that your investment in property in Italy here has superb rental potential.

Follonica is a lively beach resort and home to the Modigliani art gallery, with works by Picasso and Dali. Some 15km miles south lie the beaches of Cala Violina, where the sand is so fine that ancient folklore suggests it sounds like violins when walked on.

Some of the finest beaches in Tuscany are to be found on Mount Argentario, an island attached to the mainland by three narrow strips of land. Viewed from the air it appears sculpted with breathtaking precision, a large flower between the Maremma and the sea.

Monte Argentario is one of the Maremma’s most highly sought-after areas among investors searching for property in Italy. And it has a much slower turnover of properties, with owners keen to hold onto them for as long as possible.

The seas of the Maremma are also very popular with watersports enthusiasts while skiers flock to Mount Amiata, a dormant volcano turned holiday and ski resort. And Punta Ala has one of Europe’s most majestic golf courses, which looks out to sea

Saturnia is another delight, its thermal baths a great place in which to be pampered with beauty treatments and relax in thermal pools.

Other typically Tuscan towns popular with visitors include Abbadia San Salvatore, Bagni San Filippo, Castel del Piano and Manciano, full of picturesque boutiques selling local handicrafts.

But you cannot leave the Maremma without witnessing one of its unique palios – medieval racing contests. While Siena’s famous event is run with horses, in Roccastrada it features donkeys. And locals in Paganico gather once a year in September to watch…racing frogs.

Then again, the Maremma’s a place quite like no other.