Savills Portugal

Tuscany has always been a firm favourite with international buyers and demand for country properties soared this year as people reassessed their lifestyles and priorities.

This has also brought a slight shift in preferences, with interest in renovation projects – for a long time low on the wish list – picking up.

Here, I talk to Victoria Greenwood at Abode, Savills associate in Umbria and southern Tuscany, to find out more.

Can you elaborate on what’s happening?

Yes, we are seeing renewed interest in renovation projects, especially from those with budgets over €2 million because there isn’t enough stock at the level of finish these buyers desire. They tend to favour contemporary, bright interiors and sustainability is an increasingly important aspect. They want properties for year-round living, with plenty of storage space and designated areas for home working – something that you might not readily find in an existing property especially if it was set up to be a holiday home.

Could you highlight one of your current renovation projects – what makes it particularly interesting, what’s the estimated cost and estimated value when finished?

At Villa Batini a lot of the hard part has already been done to a very high standard, making it a great canvas for a buyer. It is also close to a charming town, and is well located within Tuscany not far from Siena and Florence. It is ideal for year-round living and has multiple annexes and large internal spaces, both of which can be tricky to find in Tuscany. The estimated cost on top of the purchase price would be between €750,000 and €1,000,000 and the estimated resale could be in the region of €2.7 to €3 million.

What advice would you give to someone undertaking a renovation project today?

Get expert advice from a top agency with in-depth knowledge of the international market and the attributes your property will require when you come to sell. Doing your own project means you can make it very personal to you, but in this market it is also important to have a steer on what you would need when it comes to selling, as well as making sure you remain within a price bracket which works. Do not over spend on your property.

Keen to start a renovation project? Here are a selection of properties for sale which might spark your own grand design.