One region of Italy is enhancing its reputation as the best place for investors to 'build their dreams'…

According to The Independent, Tuscany has already been picked over, and there are hardly any quality properties left that are ripe for renovation. Now, if your budget is less than £200,000, you'll have to hunt very hard to find much more than a characterless new-build apartment.

Paul Belcher of property firm Ultissimo, had good things to say about the province: "Umbria is not a typical holiday destination in the sense that there's no dead season, like on the coast. The region offers a number of attractions which can appeal to a variety of people.  This also means that investors with property in the area can benefit from year round occupancy.

“Those who want to sample the Italian country will find much to enjoy in Umbria, while outdoor-types can also take advantage of its attractive countryside. The region is also suitable for lifestyle buyers because it does not get swamped by holidaymakers during the summer. Having said that, it is busy all year round inasmuch as there is a local life which keeps all the local towns bustling and full of activity”.

Prices in the region vary widely, from rural ruins costing under £80,000, to village houses from £100,000, right up to mega-villas worth millions. With £200,000 to £400,000 to spare there is lots of possibility to pick up either a restoration project or something ready to move into.