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$32M Tuscany Mansion Will Sell Without Reserve As Italy's New Tax Haven Status Gains Popularity

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Date of placement 2019-06-12 19:29
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A very favorable flat tax for the ultra wealthy has made Tuscany the world's newest tax haven which means interest in luxury property is soaring. Here's a $32 million mansion up for auction without reserve.

Forbes - Real Estate

Tuscany has become one of the world's newest tax luxury havens as Italy implemented a flat tax of 100,000 euros per year on any income earned outside the country, no matter how high or the source of the income (such as inheritances or salaries). That works out to about $124,000 and anyone who takes up residence in Italy who has not lived there for nine of the past ten years is eligible for the program. It can be extended to family members for 25,000 euros per person per year. The latest figures available suggest about four hundred people so far have taken up the offer and along with this new level of interest has come an increase in the number of high-end properties that are for sale.

This classic villa on 27 acres is just one such property. Previously asking 28 million euros (about $32 million), it is currently up for auction without reserve. The estate is within the ancient walled city of Lucca, in Tuscany, and comes with a nearly 30,000 square foot main house, a guest house and a staff apartment. All together there are eight bedrooms and ten bathrooms, plus an indoor pool, Turkish-style spa, cinema, professional chef's kitchen and wine storage. A look inside shows the latest owners gave it a contemporary feel while still maintaining an exterior that fits with its rustic heritage.

Here, the main floor is an open plan designed to have the views as the central focus of the room.

A library with vaulted ceilings also follows the same dark wood tones as elsewhere on the main floor.

The dining room has one large wall designed for displaying artwork.

One of several private terraces look over the grounds which include 230 mature olive trees that can be harvested each year.

Indoors the contemporary revamp is on display with the floating stairs and whitewashed walls.

The master bedroom has a private terrace.

The master bathroom has a glass shower room, freestanding tub and dark mahogany-hued floors.

The auction ends this week, so head to the auction site for Concierge Auctions to register to bid.


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