The October issue, VILLE & CASALI features a report of a poll on Italian dream places. Also mentioned is the point of view of our Network CEO Stefano Petri, on the exciting market for second homes in the Saturnia area and surroundings
VILLE & CASALI, one of the most important Italian magazines dedicated to prestigious properties, has taken our dedicated readers along with a unique insider discovery of this particular real estate market. Our October issue we share some important research about the second home market in Saturnia, the surrounding areas and most importantly, the Grosseto area of Tuscany.
As part of this study, the well-known Italian monthly also asked Stefano Petri, CEO of the Great Estate Network.
These are some of the most notable findings:
As for Tuscany in general, the second homes market has also revealed a very positive buying trend in the last year and a half in the Saturnia and Grosseto areas. Thanks to Covid and the ever-looming possibility of a future lockdown, more and more national and international customers have sought second homes that include open spaces, are located in less populated areas, and also sell at excellent prices–different from the big cities.
Compared to 2020, the first half of 2021 our Network reported an average growth in requests of 100%, with an increase in turnover of 150%.
All the data is included in the aforementioned article.
These trends are also confirmed by the second homes market in the Saturnia area–an area that not only responds to the new, emerging needs but also offers natural wonders such as thermal springs and baths combined with close proximity to dream seaside locations such as Talamone and the Argentario coast.
In this regard, our group has noted a strong interest from home buyers from Northern Europe, such as Dutch, Belgians and Germans, and a recent increase in Italian purchasers, in particular those from Rome and proximity to the area who have had the pleasure of already sampling or experiencing ownership of a second home in this area.
The preferred real estate solutions are those completely renovated, equipped with a livable outdoor space including gardens or even a large terrace. The budgets range from 300,000 to about 1 million euros, to go up to 1.5, a maximum of 2 million euros for really important farmhouses, with large sizes (400-500 square meters) and gardens of at least 1 hectare, and with a swimming pool.
Among some of the hotspots we should mention Saturnia and the area, for reasons mentioned above. Capalbio and Magliano in Tuscany are two other sought out areas/towns.
These locations offer affordable prices together combined with proximity to the sea, where real estate value typically increases.
But the facts show that in certain municipalities of the Grosseto hinterland we can find farmhouses in the countryside and apartments in historic centers completely renovated at average values between 2,500 and 3,000 euros per square meter and including properties where renovations were carried out in the last 5-10 years.
Instead, in Porto Santo Stefano, or in general, throughout the Argentario peninsula, with the same renovation parameters, prices increase up to 8-10,000 euros per square meter.
This offers those that do not want a house by the sea should consider an investment in the hinterlands.
In addition to the renovation, the location (with a beautiful view and close to a town, with all the amenities) the livable space of the properties has a decisive impact on the values: the most marketable and valuable houses include between 200 and 250 square meters, while for farmhouses with larger or smaller sizes the values per square meter also drop considerably.
Therefore it is important to know the REAL value per square meter. It’s also essential to examine every single property with cutting-edge tools, such as our IT tool THE BEST PRICE, which allows a very detailed analysis of over 30 qualitative characteristics and a comparison with various types of value databases (OMI + market + estimates and sales).
Over the last 2 years, our software has shown incredible performance, bringing the average differential between estimated values and actual prices to just 3.6%.
In fact, THE BEST PRICE identifies the real price that can be reached in the market (to find out more, read our article about this tool).
Stefano Petri concludes:
The forecasts for the last four months of 2021 and 2022 are certainly positive, as the reasons that led to the results indicated above are always current and concrete.