Tuscan property market 'performing well'

Monday April 21st , 2008

Britons who own holiday homes in Tuscany have been reassured about current market conditions in the area.

The Italian region has become a hotspot of activity among second home buyers in the UK, although current financial crises across the world have led to concerns regarding various property markets.

Therefore, Rupert Fawcett of Knight Frank has told interested parties that the market in Tuscany is holding up fairly well and maintaining its appeal to property buyers.

Speaking to the Times, he said this is partly because it is not generally considered a market for investment buyers.

Mr Fawcett commented: "It's very much a lifestyle purchase.

"People are looking at the long-term, so are not concerned with immediate financial worries."

He added that in recent months, there has been no decline in the number of British property buyers, who still account for the majority of buyers in Tuscany.

This comes after a poll of British travel agents by The Network found that 15 per cent believe Italy will be this year's most popular holiday destination.