For many years rural Tuscany with its rolling valleys of ancient farmhouses has been the most popular Italian region for British home hunters. Yet the ruggedly beautiful Tuscan coast around the Monte Argentario peninsula remains a well-kept secret among wealthy Romans. A painless 90 minutes on the autostrada from the capital’s airport (or 1 hour 45 minutes from Florence), Argentario was a volcanic island surrounded by shallow waters that silted to form two extended sandbanks linking it to the mainland. Now, a succession of family-friendly beaches backed by maritime pines flank the peaceful Lagoon of Orbetello. The craggy peninsula’s main town of Porto Santo Stefano was the summer playground for Italian high-rollers such as the Agnelli industrialist dynasty and Hollywood stars such as Elizabeth Taylor and Richard Burton, who dropped by for an aperitivo on the quayside of gelato-hued houses beneath the 16th-century Spanish fortress. It was rather like Portofino’s slightly less dazzling younger sister. These days, however, fashion-conscious Italians prefer the northern Tuscan seaside resort of Forte dei Marmi, yet it could be argued that Porto Santo Stefano is more akin to the French Riviera’s St Tropez; it’s on the same regatta circuit (from June 18-21 it is host to the little-promoted Argentario Sailing Week) and a coastline every bit as tantalising with trophy villas tucked away atop steep cliffs dropping down to little coves of the most intense cast of aquamarine. It is much less international than the Côte d’Azur, though — only 30 per cent of home owners are foreign — with the region remaining relatively undiscovered, according to Elisa Biglia of Great Estate Immobiliare. “People don’t realise that the Tuscan coast is not all flat like the northern part, but more like Sardinia or the south of France. Since the global downturn we’ve seen Russian, American and northern European buyers, including the British. Prices are down 30 per cent from the market peak [in 2008] — at €5,000 to €8,000 per sq m.” She says the average British buyer spends €800,000 to €1.15 million, for which you get a small villa or a large apartment with fabulous views. You need nearer €1.5 million (about £1.07 million) for a 200 sq m villa with views. “Frontline clifftop villas are being advertised for €8 million to €12 million, though they won’t sell for that much,” she adds. “Most of them are less than 50 years old but are in a poor state of repair or need updating.” A handful of Russians are conducting serious renovation projects. This summer commercial flights from Russia will start flying into nearby Grosseto alongside the private jets used by their neighbours, including a Kuwaiti princess who bought the former Queen Beatrix of the Netherlands’ home here. “The western coast around Torre di Cala Piccola [the area’s best hotel] within a private estate with a beach club is especially sought after, with its wild interior of scrub and pine forest and beaches that are only reached by boat,” says Gemma Bruce of agent Casa & Country. Others may prefer to be within an easy stroll of chic boutiques and restaurants. These buyers can find two-bedroom apartments in Porto Santo Stefano for about €400,000, according to Krister Blom of Casa Tuscany, who says that 80 per cent of sales are to foreigners now that the Italians aren’t buying, with former British Commonwealth nations prevalent. “Buyers like the fact this coast is much less crowded than Liguria [the northeastern Italian coastline spreading east and west of Genoa] — plus the beaches are better,” he says. “What’s more there are islands to visit [Giglio and Giannutri close by; Sardinia and Corsica further west] and if the weather’s a bit lousy you can drive to Siena or Florence in 90 minutes or so. It offers the best of both worlds.” He says that another option — the exclusive resort of Porto Ercole on the east of Monte Argentario, with the famous Il Pellicano hotel — is more expensive. “It’s closer to Rome so the Romans will pay slightly more, but it’s very quiet out of season, whereas Porto Santo Stefano is busy all year round.” You can also head inland into mainland Tuscany towards “Chiantishire” where your money goes further. “In Maglione in Toscana, 20 minutes’ drive from the sea, you can get a four-bedroom farmhouse for €700,000 to €1 million; or another 20 minutes inland is popular Scansano,” says Biglia. Or you could opt for the island of Giglio, to the west of Monte Argentario, where prices are higher than Monte Argentario, because of lack of supply. A huge granite mass with a jagged coastline (on which the cruise liner Costa Concordia ran aground in 2012), this island, rather like Elba, further north, is another exclusive summer hideaway for Italians. Joanna Yellowlees-Bound from Oxfordshire fell in love with the island of Giglio in the 1980s when her husband, the marine archaeologist, Mensun Bound, had been diving there for Etruscan relics. They bought a two-bedroom fisherman’s cottage on Campese beach six years ago (now worth about €375,000) and rent it out through Agenzia Immobiliare when not using it. “A 50-minute ferry ride from Porto Santo Stefano, it’s that bit more off the beaten track but shares the same crystalline waters and small sandy coves,” says Yellowlees-Bound, the chief executive of ski specialist travel company, Erna Low. “It’s still very Italian, with great restaurants on the beach. From our side of the island there are amazing sunsets over Montecristo [the nearby island of Dumas fame]. We love winding down there for two or three weeks every summer.” This article was originally published on The Times of London
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