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Novara, exclusive houses in residential area are holding

26 October, Il Sole 24 Ore

 

The residential market in Novara in slowly advancing, and it prepares to close 2017 with a positive performance in terms of sales concluded. “After the summer break – comments Giuseppe Lanza, Grimaldi real estate agent -, we’ve had the confirmation of a slight increase in the residential demand, focused on two- and three-room apartments”. The demand for small-sized properties to rent is still keeping (one-room apartments included). “It’s worth to note -continues Lanzo- a new trend for a marketplace as Novara: renting single rooms to out of town students, permitting investors to buy bigger apartments, three-rooms or bigger”.

Whether it’s an investment or a purchase for direct use, prices are the most significant indicators of the market wellbeing. Since the beginning of the real estate crisis, house prices have decreased by 30-40%, especially for properties of little quality in the suburbs, whose decline hasn’t finished yet. The demand for the first house or its replacement is keeping up with the trend of the properties in the old town, including the historical buildings niche. The exclusive villas in residential areas (Sacro Cuore, San Martino, Santa Rita) are also remarkable, here the most of the new residential interventions concentrate, represented mostly by class A and class B properties. The rents market is not doing as well. In fact, its target mainly composed of families and young couple can access now more easily mortgages.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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