Buying real estate in Tuscany: how much does it cost to buy a house in one of the most beautiful regions of Italy

The real estate market inTuscany ended 2022 with a slight increase in prices for0.4%compared to 2021. This data is presented in the index of the cost of secondary residential properties, prepared by the statistical department of idealista, the largest real estate portal in Italy. The average price of housing inTuscany is2,364 eurosfor square meter, with a positive trend of1%In the fourth quarter. Let's take a closer look at the process of acquiring real estate inTuscany, as well as the current housing prices in one of the most picturesque regions of Italy.

Real estate for sale inTuscany: Provinces

Housing prices in the provinces ofTuscany are showing predominantly optimistic trends, with price fluctuations observed only in a few areas. The most significant price increases have been recorded in:

• Livorno(2.3%)
• Prate(2.2%)
• Florence(2%)

Prices have also increased in:

• Grosseto(1.5%)
• Arezzo(0.6%)
• Luke(0.3%)

At the same time in:

• Carrara marble(-1.7%)
• Siena(-1.2%)
• PisaandPisto(both -0.1%)

There have been slight price decreases.

The most expensive province for purchasing real estate inTuscany isLukeThe average price here is3,073 eurosper square meter. Following it are:

• Florence2,975 euros/m²
• Grosseto€2,421/m²

which also exceed the national average level.Arezzo(1,398 euros/m2) andPistoya€1,472/m² ranks among the most affordable provinces for purchasing real estate inTuscany.

Real estate for sale inTuscany: Cities

Housing prices in major cities ofTuscany continue to rise, with the exception ofLuke(-3.5%) andSiena(-0.6%), where the only annual declines have been recorded.

• Arezzo(5.4%)
• Prata(4.2%)
• Grosseto(3.4%)

More modest fluctuations are observed in other cities, where price increases varied from2.6%inPisato0.7%inPistoand1.5%inFlorence.

Speaking about the cost of buying property inTuscany,Florenceremains the city with the highest price per square meter - on average3,969 eurosThe regional capital significantly outpaces other cities in housing prices, followed by:

• Siena(2,943 euros/m2)
• Pisa€2,478/m²

Pistoyais characterized by the lowest prices, making1,634 eurosper square meter.

According to Vincenzo De Tommaso, head of the statistics department at idealista: "2022 marked the end of a period of low mortgage rates, as well as a slowdown in demand, especially in the last months of the year, despite rising prices. 2023 will be influenced by economic instability and uncertainty caused by the Russian-Ukrainian conflict, the energy crisis, rising commodity prices, and sharp inflation, which may lead many potential buyers to postpone their property purchases in Italy. We expect a longer sales process and a decrease in transactions compared to 2022, while prices will cool down, but there won't be any drastic changes. This will be an uneven process, and areas with lower demand will feel these trends more quickly and intensely. The low to mid-range property segment is likely to face the most significant decline next year."