News / From the associates

Savills analyzes the luxury residential market in Tuscany, confirming its appeal and stability within the Italian real estate landscape. Thanks to steady demand and a limited supply of high-end properties, Florence and the major coastal towns continue to perform well, with rising values for both sales and rentals.

In Florence, average prices stand at €10,000 per square meter, with peaks of €12,240 per square meter in the southeast and a low of €7,370 per square meter in the southwest. The Historic Center remains among the most sought-after areas at €11,700 per square meter, while the northwest has seen the sharpest increase since 2019 (+18%), reaching €7,840 per square meter. The prime rental market is also booming: the Historic Center saw a 41% increase since 2019, reaching €55 per square meter per month, with peaks of €90 per square meter per month for short-term rentals, driven by strong tourist demand.

On the coast and the islands, transactions have increased compared to 2019: +26% in the Tuscan Islands, +24% in Versilia, and +20% in the Maremma. Versilia has established itself as a benchmark for the luxury segment, with prices ranging from €11,500 per square meter in the Maremma to €16,100 per square meter in Versilia, the latter showing a 17% increase since 2019. The Tuscan Islands recorded an average value of €14,100/sqm (+10% since 2019). Regarding seasonal rentals, during the high season rates reach €300 per square meter per month in Versilia, €150 per square meter per month in the Maremma, and €80 per square meter per month on the islands, with the Maremma seeing a surge of +41% since 2019.

In the Chianti countryside and rural Tuscany, transactions increased by 12% compared to 2019, although 2023 saw a slight slowdown. Average prices stand at €9,500 per square meter, representing a 6% increase since 2019. The rental market has seen a more moderate increase over the past year (+1.4%), but a significant one over the long term (+26% since 2019), with a current average rent of €150 per square meter per month.

For 2025, more modest growth is expected, with prices remaining stable or rising slightly, supported by strong demand and limited supply. The rental market will continue to expand, with a growing focus on property quality and sustainability—a key factor in strengthening Tuscany’s competitiveness in the luxury real estate landscape.