Tuscany – prices down by 20 percent?
A piece on the ‘thisismoney’ site – pretty standard ‘ain’t Tuscany lovely … why don’t we move to Lucca’ fare – includes a quote from somebody at Knight Frank in the UK that seems pretty juicy – Property abroad: Prices tumble in Tuscany.
To quote: ” ‘Until 2008, prices in Tuscany had been rising steadily for two decades, but the recession hurt the region, and current prices are 20% off their peak,’ says Liam Bailey head of Knight Frank Residential Research.”
Hmmm. Eyebrows raised. It’s likely the case that foreigners who are keen to shift their second homes may well have dropped their prices significantly, but Italian owners tend to dig in for the long haul and are most reluctant to drop their prices. Some room for manouvre, absolutely, but 20 percent? Perhaps we need to get out more.
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