Tuscan Feeling Blog

The perfect investment: an apartment in Florence! Which tips for winning rentals?

room-in-florence

Today, with the Italian market’s recent real estate crisis, purchasing an apartment in Florence it’s an investment within the reach of all! The average cost of an apartment in Florence is around Euro 3000/per sqm, although in the historical centre apartments can cost a little more, but they’re a great investment for earning money. In fact, out of approx. 6,200 ads for sale in the city of Florence, it turns out, that in some areas such as Oltrarno an apartment can costs Euro 4,000-4,500/per sqm, but the value of these properties is expected to grow 5%/per year. Also, if you are willing to rent your apartment to tourists, you can expect to earn more than Euro 10,000–15,000/per year, depending from your apartment.

The most required areas of Florence, by international buyers, are located in the historic center near Duomo or Pontevecchio. You know, both are well known Florence’s monuments and everybody want to live there! In these areas, an apartment can cost up to € 6,000/per sqm, but the request for tourist rentals is always constant. A great alternative, is to purchase an apartment in ancient areas like Oltrarno and Borgo San Frediano, where the cost is lower, aprox. € 4,500/ per sqm, but the request by young tourists to rent apartments in these places is constantly increasing. In Oltrarno and Borgo San Frediano, in fact, there are international universities, craft shops and a stunning nightlife.

The perfect house in Florence, beloved by tourists, must respond to simple basic rules. The apartment must be close to the main places of interest, not only monuments and museums, but mostly near universities for foreigners and where the nightlife is. The apartment can be a loft, a 2-room apartment, or a larger house for families or groups of people, depending on the available budget. The gain will be relative to the investment!

Which is the best furniture for an apartment, conceived for turistic rentals? The furniture should be efficient, functional, colorful and brand new. A nice place to see, is the best place for living! In our experience, tourists and travellers seems to prefer modern furnitures instead to the typical tuscanian style. A good tip is to buy Ikea furniture with average quality. Low cost, but good quality and you can replace with few euros what people could break. The apartment must have charm, it should be warm and it should have particular attractive characteristics, such as exposed beams, cotto or parquet pavements. It must have a comfortable bed and a nice modern bathroom. Elevator, terrace with views, are plus, but they are always interesting features. The kitchen should offer all the amenities: refrigerator, freezer, gas or electrical burners, oven and dishwasher. Washing machine is a must. The wi fi is mandatory and the connection must be hi  speed!

Get the most out of your investment it’s not so easy as it could seems. There are many options on line for renting an apartment, but the best is to have someone who can works directly for you in Florence. So, for getting the most of your apartment with bookings, you should consult a real estate agency, specialist in international rentals, that can offer services and a constant level of bookings, during the year and solve for you any kind of burocracy. An international real estate agency, as Tuscan Feeling is, can do for you all your client’s check in and can manage your apartment while you are on the other part of the world. Customer management, care of the apartment, the final cleaning and the burocracy can be some obstacles to your investment program, but a good real estate agency can solve any problem. Buy an apartment for rent in Florence it is not hard! Of course, if you stick in the right hands!

 

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