Robert V Matthews luxury Real Estate guru takes a look at another discount market worth investing in for the future, Tuscany, Italy.
Tuscany is a region in central Italy. Its capital, Florence, is home to some of the world’s most recognizable Renaissance art and architecture, including Michelangelo’s “David” statue, Botticelli’s works in the Uffizi Gallery and the Duomo basilica. Its diverse natural landscape encompasses the rugged Apennine Mountains, the island of Elba’s beaches on the Tyrrhenian Sea and Chianti’s olive groves and vineyards.
The Italian economy, brought to its knees by the coronavirus, will contract by around 8.3% this year, national statistics bureau ISTAT said on Monday.
Its 2020 GDP forecast of -8.3% compares with projections of -9.2% by the Bank of Italy, -9.5% by European Commission and a -8.0% forecast made in April pointing to continued pressure on the real estate market.
The statistics bureau forecast than the economy would stage a partial rebound next year, with GDP growth of 4.6%.