More bare ownership on offer

19 February, Il Sole 24 Ore

Bare ownership is an investment option for whom aims at a property appreciation in the long period and hasn’t the immediate necessity of living in the property (obviously the house is available for the tenant till he’s alive) or of getting immediate returns (buying to rent). For these reasons, it represents a “parallel market” that doesn’t follow the dynamics of the traditional market. The recession years have increased the offer for this type of investments, even though with a little number of transactions. While the 2017 figures from the Revenue Agency won’t be published before May, those referring to 2016 register an increase in the transactions of bare ownership of 11.7% (24,107 transactions).

Who is looking for this type of properties will find a wide range to choose from. According to Immobiliare.it, in fact, while the demand has remained substantially stable, the advertainments for these properties have grown by 3.2% over the last 5 years. The numbers have grown in several cities: Genoa and Turin are leading the chart with respectively 6.7% and 5.6%. The price difference in comparison with the market prices is 22%, but in Naples (the demand is set at 2.4%) it’s possible to save up to 40%, in Florence 34%, in Milan 23%, in Rome 19%, in Turin 11%, and in Genoa 8%.

Tecnocasa has investigated on the reasons that bring people opting for bare ownership. It’s surprising that 27% of the interviewed state “main house” as the motivation, probably with the perspective of buying a house at reasonable prices now while postponing leaving the parents’ house or the rented house, or it may refer to a purchase made by parents for their young children. Who buys has is aged between 35 and 54 years for 57% of the surveyed, who sells is over 64 years for 74% of the total. In the 37.7% of the cases, the purchased property is a two-bedroom apartment.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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