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Bergamo, increase of real estate investors

17 October, Monitor Immobiliare

In the first semester of 2017, the house prices in Bergamo have decreased by 0.5% compared to the previous semester. However, the market is particularly dynamic thanks to the low prices in the recent years and to an increased trust from the potential buyers. It’s also remarkable the return of investors in the city centre, for tourist purposes too.

According to the Tecnocasa research department, the real estate market in the centre sees the presence of people buying their first house as well as investors. After Bergamo Alta, the city centre is the most expensive area with historical buildings and more recent ones dated in the 50 and 60s. People looking for the first house are mostly families and elderly people moving from the hinterland of Bergamo as they value the services of the city. They’re mostly interested in dimensions starting from 150 Sq m, possibly with view on Bergamo Alta.

Among the investors, besides those buying two- and one-room apartments to rent to workers and students from the Carrara Academy, there are those requesting large sized properties (180-200 Sq m) in Bergamo Alta to be used a B&B. The current trend is to rent and convert them into hotels.

In the first part of 2017, the prices in the south-eastern part of Bergamo have been stable. It’s mostly local families to buy for a better property. They focus on three- and four- apartments possibly in good conditions or renovated.

Malpensa and Boccaleone are the most expensive neighbourhoods. Malpensa is closer to Bergamo city centre and in a strategic position to reach the station and the airport of Orio al Serio. While Boccaleone offers more recent buildings, dated back in the 90s, and it’s located near the Nuova Fiera area of Bergamo.

The houses of Celadina are cheaper with popular buildings, people buying here are generally those who can’t afford a property in the Borgo Palazzo neighbourhood nearby. Here there are also buildings from the early 00s, some of them still unsold.

Source: Monitor Immobiliare (by J.B.)

Translator: Cristina Ambrosi