The Real Estate Market in Our Area - Southern Tuscany

PART 141: It might be interesting to share how we pulled off living in Italy for part of the year. I will post some steps and what we are learning along the way.

We love every minute of it, and what was once a dream is our life!

We live in Tuscany in the Fall, then back again in the Spring, and in California for the rest of the time (in a previous blog, I explained why we live in Italy only part of the year).

Step 1: As we explore areas in Italy, we discover some gems worth sharing. Some are well-known tourist magnets, and others are lesser-known but always amazing. 

This week, let's explore the real estate market in southern Tuscany.

Step 2: The Interview

I thought it would be interesting to interview our fantastic real estate agent, Sandro Marucci, from the agency "Eco Casa Immobiliare," part of the brand "Agente Immobiliare Sostenibile." 

https://www.ecocasaimmobiliare.it/web/

I want to learn about the real estate market in southern Tuscany and gather insights on specific areas and cities. My goal is to understand the advantages of living in particular locations, the prices of houses, and the buying process for foreigners.

Let's jump right in and get started.

Step 3: The questions

• What is the real estate market like here?

The real estate market in southern Tuscany is quite diverse. It is essentially a "buyer’s market," meaning there is a greater supply of properties than there is demand. This offers the opportunity to find properties at very advantageous prices, but knowing how to identify and select them wisely is essential.

Aside from the more internationally renowned cities and areas, such as Siena, San Gimignano, Pienza, Montalcino, and Montepulciano—which have significantly higher prices per square meter—hidden gems exist in the less famous municipalities. You can find excellent real estate deals in these areas, often priced between 50,000 and 100,000 euros. However, it's worth noting that the farmhouse market operates under its own specific dynamics.

• Advantages of Southern Tuscany

This area is very strategic and has a mix of beautiful landscapes within just a few kilometers. You can visit the hills of the Val d'Orcia, the largest beech forest in Europe on Mount Amiata, Lake Bolsena, and the beaches of Maremma. It also has a rich culture and great food and wine. Since it is in the center of Italy, you can easily travel from here to the north and south of the country.

• Are there challenges to face living in this area?

Getting around the area can be challenging due to a public transport system that is not well organized or widespread. The best way to travel is by car. You can use taxis and buses to reach train stations and airports if you don't have a car.

Most of the unique homes are in the historic centers, where parking for cars is not allowed. However, there are usually parking options nearby. The urban areas outside these old villages mostly date back to the 1970s and 1980s.

Not every town has a hospital, but services are generally easy to find. You will also find many shops, entertainment options, and sports activities.

• What are the starting prices of houses in these areas?

1. Siena: House prices range from €2,000 to over €4,000 per square meter in Siena. Generally, prices are higher in the historic center, with peaks near Piazza del Campo and the cathedral.

2. Montalcino: On average, house prices are between €2,000 and €2,400 per square meter. However, prices can easily double in the countryside, where the land has significant wine value.

3. Monte Amiata Area: Prices in this area are much more accessible, averaging around €1,000 per square meter. The real estate market is consistent throughout the region, with larger municipalities like Abbadia San Salvatore (SI) and Castel del Piano (GR) offering the most amenities. The most tourist-friendly municipality is Santa Fiora (GR), while Arcidosso (GR), Seggiano (GR), and Piancastagnaio (SI) are excellent places to explore.

4. Montepulciano's average property prices are between 1,600 and 1,800 euros per square meter, although housing costs are generally lower in the nearby hamlets. The historic center tends to have higher prices, while the surrounding countryside, renowned for its exceptional winemaking, features a distinct housing market of its own.

5. Pienza's average property prices range from 2,200 to 2,600 euros per square meter. Farmhouses in the picturesque surrounding countryside can fetch significantly higher prices based on their location and features.

Insights: As many regions of southern Tuscany are currently a buyer's market, there are numerous opportunities to start a new life in Italy. Being comfortable driving in Italy can enhance accessibility and make exploring the Val d'Orcia and surrounding areas much easier. Additionally, having a reliable real estate agent is crucial for identifying neighborhoods that align with your interests and budget.

Living in Italy is easy; it just takes that first step.

More next time.

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