Engel & Völkers already has a presence in Tuscany, with franchise shops in Florence, Siena, Castiglione della Pescaia, in Versilia between Viareggio and Forte dei Marmi, and soon to open also in the area of Monte Argentario. The aim is to continue expansion in other holiday resorts and cities of art and culture, such as Arezzo and Cortona.
Arezzo and the surrounding countryside, especially Cortona, are a particularly strategic area for the first home market, but also for investments in second properties, especially by foreigners. The area is characterised by many luxury properties in typical Tuscan style that attract our niche customers, who appreciate the beauty of the area, its food and wine traditions and its mild climate.
Taking pride of place are the historic villages, country houses, cottages and villas surrounded by extensive private grounds, where it is possible to cultivate typical Tuscan traditional products and enjoy the natural beauty of the area, whose quality of life is known around the world.
In particular, according to Engel & Völkers, Arezzo is an interesting market for first homes, where medium-high target prices range between €1,200 and €1,800 per square metre. Cortona, on the other hand, is one of the world's favourite Tuscan villages for a second home, where prices of prestige properties range between €1,300 and €3,000 per square metre.
In Cortona, property buyers are mostly foreigners: Americans, Russians, Indians and wealthy Arabs who fall in love with the countryside and invest in beautiful farmhouses.
Arezzo and its surrounding province are increasingly known globally – so much so that the increase in foreign tourism over the last year was double that of domestic tourism (a 22% increase as against an 11% rise, according to data from the Region of Tuscany). This is due to events and activities of national and international renown, such as, for example, the ancient knights' game of the Saracen Joust, the "OroArezzo" International Jewellery Exhibition, the Antiques Fair and the Tyrolean Christmas Market.
On a purely tourist level, the area is also attracting people from outside the EU such as China, Brazil and Argentina. However, the long-established tourists still come – those lovers of being "Under a Tuscan Sky' – Americans, English, Germans, Dutch, French, Spanish and Belgians. Contributing to the growth of the market, both in terms of tourism and real estate, were the increase in accommodation in the area that characterised the first half of 2018, and the 36th re-enactment of the Mille Miglia hosted in Cortona last May.
We are aiming to continue the expansion of our group in Tuscany in the area between Arezzo and Cortona, with the goal of selecting a franchise affiliate who appreciates luxury property and is interested in providing a high-end real estate brokerage service to both domestic and international clients. Our ideal partner has a strong entrepreneurial spirit, with a great passion for luxury real estate and an equivalent ambition for professional success. Current franchisees have chosen Engel & Völkers because they are passionate about the industry and interested in diversifying (without having to change jobs); others are professionals interested in a new career in our segment; and some are ambitious real estate agents who want to expand their business and network globally.
The next Engel & Völkers entrepreneur could be you... contact us for more information!