Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Tuscany's property market is included in our pack
This guide covers everything a foreign investor needs to know about renting out residential property in Tuscany in 2026, from legal requirements to realistic yield expectations.
We update this blog post regularly to reflect the latest market data, regulations, and rental trends in Tuscany.
Whether you're considering Florence, Pisa, Siena, or the Tuscan countryside, you'll find practical numbers and honest insights below.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Tuscany.
Insights
- Florence's gross rental yield sits around 5.4% to 6%, but after IMU property tax and management costs, net yields typically drop to 3% to 4% for most foreign landlords in Tuscany in 2026.
- About 30% of Florence's short-term rental listings disappeared after Italy's CIN registration system became mandatory in January 2025, creating less competition for compliant operators.
- Pisa offers gross yields of roughly 5.7% at purchase prices around 2,700 euros per square meter, making it more accessible than Florence for buy-to-let investors targeting university tenants.
- The legal deposit cap in Tuscany is three months' rent, and landlords must pay interest on deposits held, which many foreign investors don't realize until contract signing.
- Florence banned new short-term rental permits in its UNESCO historic center from mid-2024, meaning existing licensed properties now hold a competitive advantage worth factoring into purchase price.
- Tuscany recorded over 15 million tourist arrivals and 46 million overnight stays in 2024, which explains why short-term rentals in prime locations can still outperform long-term leases on gross revenue.
- Remote landlords typically budget 250 to 650 euros monthly in holding costs for long-term rentals in Tuscany, with IMU property tax often being the single largest expense many buyers underestimate.
- Furnished apartments in Florence rent roughly 15% to 25% faster than unfurnished ones, especially when targeting expats, visiting academics, and corporate tenants who dominate mid-term demand.
Can I legally rent out a property in Tuscany as a foreigner right now?
Can a foreigner own-and-rent a residential property in Tuscany in 2026?
As of early 2026, foreigners can generally buy and rent out residential property in Tuscany, with EU, EEA, and Swiss citizens facing no restrictions, while non-EU buyers may need to pass Italy's "reciprocity" check based on their country's treatment of Italian buyers.
Most foreign investors hold Tuscan rental properties directly in their own name, though some use Italian limited companies (SRL) for larger portfolios or liability reasons.
The most common hurdle is the reciprocity condition for non-EU nationals, which requires Italy's Foreign Ministry to confirm that your home country grants similar property rights to Italian citizens.
If you're not a local, you might want to read our guide to foreign property ownership in Tuscany.
Do I need residency to rent out in Tuscany right now?
You do not need to be an Italian resident to own and rent out property in Tuscany, and many foreign landlords manage their investments entirely from abroad.
However, you will need an Italian tax identification number called a "codice fiscale," which the Agenzia delle Entrate issues to foreigners even without residency.
While there's no legal requirement for an Italian bank account, having one makes rent collection, utility payments, and tax compliance significantly easier in practice.
Remote management is feasible in Tuscany, but most non-resident landlords hire a local property manager or agent to handle tenant communication, maintenance, and contract registration.
Thinking of buying real estate in Tuscany?
Acquiring property in a different country is a complex task. Don't fall into common traps – grab our guide and make better decisions.
What rental strategy makes the most money in Tuscany in 2026?
Is long-term renting more profitable than short-term in Tuscany in 2026?
As of early 2026, short-term rentals in Tuscany's tourist hotspots like Florence, Lucca, and Siena often generate higher gross revenue than long-term leases, but the gap narrows significantly once you factor in management fees, cleaning costs, and vacancy.
A well-managed short-term rental in Florence might gross 18,000 to 25,000 euros annually on a typical one-bedroom, compared to 12,000 to 14,000 euros for a long-term lease, but STR costs can eat 30% to 40% of that revenue.
Properties in Florence's historic center, Lucca's walled city, Chianti's wine country, and coastal Versilia tend to favor short-term renting because they attract steady tourist demand throughout much of the year.
What's the average gross rental yield in Tuscany in 2026?
As of early 2026, the average gross rental yield for long-term residential rentals across Tuscany falls between 4.5% and 6.5%, with significant variation depending on whether you're buying in Florence, Pisa, Siena, or smaller towns.
The realistic range spans from around 4% in premium historic center locations where purchase prices are highest, up to 6.5% or slightly above in areas like Pisa and peripheral Florence neighborhoods where prices are more moderate.
Smaller apartments, particularly studios and one-bedrooms near universities or transit hubs, typically achieve the highest gross yields in Tuscany because their per-square-meter rents are proportionally stronger.
By the way, we have much more granular data about rental yields in our property pack about Tuscany.
What's the realistic net rental yield after costs in Tuscany in 2026?
As of early 2026, realistic net rental yields for long-term rentals in Tuscany typically land between 2.8% and 4.5% after accounting for all recurring costs that foreign landlords face.
Most landlords in Tuscany experience net yields in the 3% to 4% range, with those managing properties remotely often landing at the lower end due to higher management fees.
The three main cost categories that reduce gross to net yield in Tuscany are IMU property tax on second homes (often 0.5% to 0.8% of property value annually), condominium fees that can run 100 to 200 euros monthly in historic buildings with elevators and shared heating, and maintenance reserves that matter more here because much of Tuscany's housing stock is centuries old.
You might want to check our latest analysis about gross and net rental yields in Tuscany.
What monthly rent can I get in Tuscany in 2026?
As of early 2026, typical monthly rents in Florence run around 680 euros (740 USD) for a studio, 1,130 euros (1,230 USD) for a one-bedroom, and 1,700 euros (1,850 USD) for a two-bedroom apartment.
A decent studio in Florence rents for 550 to 750 euros (600 to 820 USD) monthly, while in Pisa or Siena you can find entry-level studios from 320 to 420 euros (350 to 460 USD).
A typical one-bedroom in Florence commands 950 to 1,300 euros (1,030 to 1,420 USD) monthly, whereas Pisa one-bedrooms run 550 to 750 euros (600 to 820 USD) and Siena stays similar at 500 to 700 euros (545 to 765 USD).
Two-bedroom apartments in Florence typically rent for 1,400 to 2,000 euros (1,525 to 2,180 USD), while in Pisa and Siena, two-bedrooms range from 850 to 1,100 euros (925 to 1,200 USD).
If you want to know more about this topic, you can read our guide about rents and rental incomes in Tuscany.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Italy versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What are the real numbers I should budget for renting out in Tuscany in 2026?
What's the total "all-in" monthly cost to hold a rental in Tuscany in 2026?
As of early 2026, the total monthly cost to hold and maintain a typical long-term rental property in Tuscany runs between 250 and 650 euros (270 to 710 USD), excluding any mortgage payments.
The realistic range spans from around 200 euros (220 USD) monthly for a small apartment in a newer building with low condo fees, up to 800 euros (870 USD) or more for larger historic properties with high maintenance reserves and full-service management.
IMU property tax is usually the single largest holding cost in Tuscany for non-resident owners, often running 0.5% to 0.8% of the property's cadastral value annually, which translates to 150 to 400 euros monthly on a typical 200,000 euro apartment.
You want to go into more details? Check our list of property taxes and fees you have to pay when buying a property in Tuscany.
What's the typical vacancy rate in Tuscany in 2026?
As of early 2026, typical vacancy rates for long-term rentals in Tuscany's main cities range from 3% to 8%, meaning landlords should budget for roughly half a month to one month of vacancy per year.
In Florence, strong demand keeps vacancy around 0.4 to 0.7 months annually, while smaller cities like Siena and Lucca see 0.6 to 1.1 months, and rural areas can experience 1 to 1.5 months of vacancy per year.
The main factor driving vacancy differences across Tuscany is proximity to consistent demand generators like universities, hospitals, and major employment centers, which explains why areas near Florence's Campo di Marte or Pisa's university district stay occupied longer.
September and October typically see the highest tenant turnover in Tuscany because Italian lease cycles often align with the academic year, and many professionals relocate during early autumn.
We have a whole part covering the best rental strategies in our pack about buying a property in Tuscany.
Get fresh and reliable information about the market in Tuscany
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
Where do rentals perform best in Tuscany in 2026?
Which neighborhoods have the highest long-term demand in Tuscany in 2026?
As of early 2026, the three neighborhoods with the highest overall long-term rental demand in Tuscany are Florence's Campo di Marte, Pisa's Santa Maria district near the university, and Siena's historic center within walking distance of the hospital and university.
Families in Tuscany tend to favor Florence's Gavinana and Le Cure neighborhoods for their schools and parks, along with Lucca's residential belt just outside the historic walls where space and parking are easier to find.
Students concentrate in Pisa's Santa Maria, San Martino, and Pratale areas near the University of Pisa, as well as Florence's Novoli district close to the university campus and Rifredi for its affordable rents and tram connections.
Expats and international professionals gravitate toward Florence's Oltrarno and San Niccolò for their walkable charm, along with Lucca's historic center and premium parts of Florence's Campo di Marte where lifestyle amenities meet good transit links.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Tuscany.
Which neighborhoods have the best yield in Tuscany in 2026?
As of early 2026, the three neighborhoods with the best rental yields in Tuscany are Florence's Rifredi and Isolotto-Legnaia districts, and Pisa's Porta a Lucca and Cisanello areas near the hospital.
These neighborhoods typically deliver gross rental yields in the 5.5% to 7% range, compared to 4% to 5% in the most premium historic center locations.
The main characteristic that allows these neighborhoods to achieve higher yields is that purchase prices haven't inflated as much as rents, because they lack the "postcard" appeal that drives speculative buying while still offering the connectivity and services that keep tenant demand strong.
We cover a lot of neighborhoods and provide a lot of updated data in our pack about real estate in Tuscany.
Where do tenants pay the highest rents in Tuscany in 2026?
As of early 2026, the three neighborhoods where tenants pay the highest rents in Tuscany are Florence's Centro Storico, Lucca's historic center within the Renaissance walls, and Siena's Centro Storico around the Piazza del Campo.
A standard one-bedroom apartment in these premium neighborhoods typically rents for 1,300 to 1,800 euros (1,420 to 1,960 USD) monthly, with two-bedrooms reaching 2,000 to 2,800 euros (2,180 to 3,050 USD) in the most sought-after locations.
The main characteristic that makes these neighborhoods command the highest rents is their combination of UNESCO-protected architecture, walkable access to cultural landmarks, and strict building controls that limit new supply, creating permanent scarcity in the most desirable addresses.
The typical tenant profile in these highest-rent neighborhoods includes senior corporate executives on relocation packages, visiting professors and researchers on sabbaticals, and wealthy retirees from Northern Europe or North America who prioritize location over space.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Italy. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
What do tenants actually want in Tuscany in 2026?
What features increase rent the most in Tuscany in 2026?
As of early 2026, the three property features that increase monthly rent the most in Tuscany are air conditioning with efficient heating (critical in historic stone buildings), a renovated modern bathroom and kitchen (which stand out against dated competition), and private outdoor space like a terrace or small garden.
Air conditioning alone can add a 10% to 15% rent premium in Florence and other Tuscan cities because summer heat is intense and most historic buildings lack central cooling, making it a decisive factor for international tenants.
One commonly overrated feature in Tuscany is elaborate interior design or luxury finishes, because tenants prioritize functional basics like reliable heating, good water pressure, and fast internet over decorative elements they'll rarely notice after move-in.
One affordable upgrade that provides strong returns in Tuscany is installing fiber internet and including the connection in the rent, which costs under 30 euros monthly but helps secure remote workers and international tenants who will pay more for guaranteed connectivity.
Do furnished rentals rent faster in Tuscany in 2026?
As of early 2026, furnished apartments in Tuscany's main cities typically rent 2 to 4 weeks faster than comparable unfurnished units, with the gap being largest in Florence where international and corporate tenants dominate demand.
Furnished rentals in Tuscany generally command a 15% to 25% rent premium over unfurnished equivalents, though this premium is partly offset by higher furnishing costs and the need to replace items more frequently.
Get to know the market before you buy a property in Tuscany
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.
How regulated is long-term renting in Tuscany right now?
Can I freely set rent prices in Tuscany right now?
Landlords in Tuscany can freely set initial rent prices under the standard "canone libero" (free-market) lease structure, which is the most common arrangement for residential rentals and allows you to negotiate whatever the market will bear.
Rent increases during a tenancy are typically tied to the ISTAT FOI inflation index rather than being freely adjustable, with most contracts allowing annual increases of 75% to 100% of the published inflation rate, which has run around 1% to 3% in recent years.
What's the standard lease length in Tuscany right now?
The standard lease length for long-term residential rentals in Tuscany is the "4+4" structure, meaning an initial four-year term that automatically renews for another four years unless either party gives proper notice.
The maximum security deposit a landlord can legally require in Tuscany is three months' rent (roughly 2,000 to 5,000 euros or 2,180 to 5,450 USD for a typical Florence apartment), and this limit is set by national law.
At the end of a tenancy, landlords must return the deposit within a reasonable period (typically interpreted as a few months) after deducting any legitimate damages, and the deposit legally accrues interest that must be paid to the tenant.
We made this infographic to show you how property prices in Italy compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
How does short-term renting really work in Tuscany in 2026?
Is Airbnb legal in Tuscany right now?
Airbnb-style short-term rentals are legal in Tuscany, but they require compliance with Italy's national CIN registration system and, in Florence specifically, face significant restrictions including a ban on new permits in the UNESCO historic center since mid-2024.
All short-term rental operators in Tuscany must obtain a CIN (Codice Identificativo Nazionale) through the Ministry of Tourism portal, display it on all listings and on the property entrance, and meet safety requirements including fire extinguishers and gas detectors.
Florence and other major Tuscan tourist cities enforce minimum two-night stays in high-density areas, and Florence has suspended all new short-term rental authorizations in its historic center, effectively capping supply.
Operating without a valid CIN in Tuscany can result in fines ranging from 800 to 8,000 euros depending on property size, plus platforms like Airbnb will delist non-compliant properties, and repeated violations can lead to rental bans.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Tuscany.
What's the average short-term occupancy in Tuscany in 2026?
As of early 2026, the average annual occupancy rate for short-term rentals in Florence runs around 60% to 65%, with other Tuscan tourist destinations typically seeing 50% to 60% depending on location and seasonality.
The realistic range spans from around 45% occupancy for seasonal or rural properties, up to 70% or slightly higher for well-optimized listings in prime Florence locations with strong reviews and competitive pricing.
Peak occupancy in Tuscany occurs from April through October, with the strongest months being May, June, September, and October when weather is ideal and cultural tourism peaks without the extreme summer heat.
The lowest occupancy months in Tuscany are typically January through early March, when tourism drops significantly and even Florence sees occupancy dip below 50% for many short-term rentals.
Finally, please note that you can find much more granular data about this topic in our property pack about Tuscany.
What's the average nightly rate in Tuscany in 2026?
As of early 2026, the average nightly rate for short-term rentals in Florence runs around 180 to 220 euros (195 to 240 USD), with Lucca and Siena averaging 130 to 180 euros (140 to 195 USD) for comparable properties.
The realistic range across Tuscany spans from around 80 euros (87 USD) per night for basic apartments in smaller towns, up to 350 euros (380 USD) or more for premium properties with terraces, views, or historic character in prime locations.
Peak season rates in Tuscany (May through October) typically run 40% to 60% higher than off-season rates, meaning a property that averages 150 euros nightly in winter might command 220 to 240 euros during spring and autumn high season.
Is short-term rental supply saturated in Tuscany in 2026?
As of early 2026, Florence's short-term rental market shows clear signs of saturation with over 17,000 active listings competing for bookings, though the recent CIN regulations have removed an estimated 20% to 30% of previously non-compliant inventory.
The trend in active listings is currently stabilizing or slightly declining in Florence due to regulatory pressure, while smaller Tuscan cities show modest growth as some operators shift away from the heavily regulated Florence market.
The most oversaturated neighborhoods in Tuscany are Florence's Centro Storico, Santa Croce, and Santo Spirito areas, where short-term rental density is highest and competition for bookings is fiercest.
Neighborhoods with room for new short-term rental supply include Florence's peripheral areas like Campo di Marte and Rifredi, plus secondary Tuscan cities like Arezzo, Pistoia, and Grosseto where tourism demand exists but STR competition remains moderate.
Don't lose money on your property in Tuscany
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Tuscany, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Italian Ministry of Foreign Affairs (MAECI) | Italy's government source for reciprocity rules affecting foreign property buyers. | We used it to explain when non-EU foreigners can legally buy and rent out in Tuscany. We also referenced it to show that eligibility depends on nationality and bilateral agreements. |
| Agenzia delle Entrate (Tax Authority) | Italy's official tax authority explaining what foreigners need to operate legally. | We used it to confirm that a codice fiscale is required for rental activities. We also used it to show that you can get this tax number without being an Italian resident. |
| Idealista | Major Italian property portal with transparent, regularly updated price reports. | We used it as a primary benchmark for rent levels across Tuscan cities in late 2025. We also used it to calculate gross yields by combining rent and price data. |
| Immobiliare.it | Italy's largest property portal providing consistent market snapshots. | We used it to cross-check prices and rents against Idealista for accuracy. We also used it to ensure our yield calculations weren't inflated by relying on one data source. |
| Regione Toscana Tourism Report | Official regional government data on tourist arrivals and overnight stays. | We used it to explain why short-term rentals have strong structural demand in Tuscany. We also used it to connect seasonality patterns to realistic occupancy planning. |
| AirDNA | Widely used STR analytics provider tracking Airbnb and Vrbo performance. | We used it to estimate occupancy and nightly rate ranges for Florence short-term rentals. We also used it to assess market saturation using active listing counts. |
| Ministry of Economy and Finance (MEF) | Official government source explaining Italy's property holding tax (IMU). | We used it to budget the unavoidable holding cost that most foreign landlords underestimate. We also used it to keep net yield estimates grounded in real tax obligations. |
| Ministry of Tourism (BDSR/CIN Portal) | National platform managing Italy's mandatory short-term rental registration system. | We used it to explain the CIN compliance requirements for Airbnb-style rentals. We also used it to highlight that enforcement is now standardized nationally. |
| Normattiva (Law 431/1998) | Official Italian legislation portal with consolidated legal texts. | We used it to explain standard lease structures like the 4+4 contract. We also used it to clarify what is regulated versus freely negotiated in rental agreements. |
| Agenzia delle Entrate (OMI Database) | Official tax authority reference for market values and rent ranges by zone. | We used it to validate that Tuscany contains many micro-markets with different pricing. We also used it to sanity-check portal data against official valuations. |
We have made this infographic to give you a quick and clear snapshot of the property market in Italy. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Related blog posts