Lynne Davie, who runs and manages Beauchamp Estates Florence office, gives us an insight into her market...
We have seen a very promising start to the early spring season in 2016, with a rise in the number of enquiries.
With approximately 60% of applicants coming from the UK so far this year, it is clear that buyers continue to want a slice of Tuscany, despite global economic uncertainty. A further fifth originate from the US, aiming to take advantage of the current strong dollar compared to the euro. The fact that prices are no longer in decline has lent much more stability and confidence to the market.
Many buyers also seek development opportunities. An example of a recent €2.6 million (£2.05 million) sale saw buyers acquire a 1,000sqm home with plenty of potential.
The Florence area attracts US, French and German tourists above all, who can pay on average £870 per night for large villas in the area. With prime properties generating much more, there are good opportunities for homeowners to cover their ownership costs through holiday rentals.
Focusing on luxury properties in key areas of Italy, Beauchamp Estates has a well-established office in Florence. Our expert team possesses a wealth of real estate experience, especially in the popular and highly competitive Tuscany property market.