But new development offers much needed affordable investment opportunity in Italy's most coveted spot.
Recent research from Savills International has shown that Brits are continuing to dominate the inward flow into the Tuscan property market.In fact, we now represent over one third of foreign buyers in Italy's most sought-after region. House prices in these high demand locations have become increasingly competitive, and one factor keeping the prices high is that supply is extremely limited, say Savills. Turnover has been in decline lately because of supply shortage, leaving many overseas buyers frustrated. Fortunately for investors, Savills International has launched an 18 unit farmhouse conversion of an 18th-century Tuscan Borgo. Set in 200 actres of hillside, La Cignella Estate is just 20 miles south-east of Siena. The development comprises 14 houses with 2 to 4 bedrooms, and four apartments from £218,000 up to £517,000. The conversion is due to be completed in 2008.
