The Tuscan countryside is back in vogue

Strong interest from overseas investors, but Italians are also rediscovering one of the world’s most famous wine regions. Renovated properties are the most sought-after

During these uncertain times of Covid, the countryside is once again back in fashion, as long as it is close to a town and not far from an airport. And best of all, it is cheaper than ever before. This is certainly true of Chianti, where the property market is once again on the rise. This is attested to by Chianti’s local estate agents, who have seen a decline in sales over the last decade. “The new trend appears to be positive,” confirms Michele Medori from Chianti property group (Gaiole in Chianti). “Polish investors have returned, some looking for a farmhouse to rent out as a holiday home and others seeking to take over properties from longstanding investors hoping to sell after so many years. A house around Gaiole, Radda or Castellina typically costs from 1 to 3 million euros, aimed primarily at the mid-high range bracket. It is a good time to find a bargain”. According to Gabriele Carratelli of Luxury homes and Carratelli fine real estate, “Fully renovated properties are in greatest demand but the market has changed. In addition to investors from the USA and Northern Europe, the Italians themselves are also beginning to set their sights on the world’s most famous countryside that is the Chianti region. But they are not looking for an onerous and time-consuming renovation project. Rather, they simply want to move in and start enjoying the countryside. The market shrunk in 2012, leading to a fall in prices. This makes now the perfect time to buy a second home or invest in a rental property, particularly in Chianti Fiorentino. For those looking to purchase a renovation project, we have set up a restoration service headed by a number of architects and other construction professionals. Prices per square metre range from €2,500 to €3,500 for middle-ofthe-range properties and up to €5,000 per square metre for luxury properties. We are talking about fully refurbished properties near to a town or village, with homes close to Florence being particularly popular”.

Andrea Poggianti from Gabetti is in agreement with his fellow estate agents: “North Europeans are primarily interested in mid-range properties, either for their own use as a holiday home, often for an extended stay, or to rent out. They are looking for a traditional Tuscan house in the country that has already been renovated”. “Now is a good time to buy as prices are still highly desirable”, adds the estate agent Marco Tedeschi. “The market is buoyant, properties that have already been bought and refurbished are coming back onto the market and the turnover is interesting. Prices range from €1,500 to 3,000 per square metre for fully renovated farmhouses benefitting from large green spaces and close to a town or village”. In an interview with

Ville&Casali, Marinella Coppi, who runs her own estate agents of the same name, explained that “Interest in farms and wineries has returned. And the age range of investors has fallen, often families with teenage children who plan to spend several months in a farmhouse in Chianti and to rent it out for the rest of the year. Guaranteed income given that this summer was sold out, with average prices of €150 per day,” adds Marinella Coppi. “We are talking about farmhouses with a pool, three bedrooms and a high quality finish that offer the perfect blend of traditional Tuscan character and modern living”. According to Antonio Lapucci from “Immobiliare Chianti”, based in Radda in Chianti, one of the most popular areas for second homes that is also seeing an upsurge in demand for countryside living, ”For us estate agents, acquisition is currently more important than client research. Demand for relatively small properties under the million euro mark is high but the housing stock is depleted.”