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Signs of recovery, sales are growing

 

The survey by Tecnocasa on the first semester of 2017: sales have grown in Rome by 7% and in Milan by 8.3%, in Naples by 9.5%, while they’re falling in Bologna. Prices are unchanged.

In the first semester of 2017, the real estate prices for the big cities have decreased by 0.4%, the most contained reduction ever recorded before. “We’re close to stability and the recovery is starting”, according to Tecnocasa. In Bologna, the price variation has been positive with +1.1%.

In the first semester of the year, the positive signals for the Italian property market are confirmed: sales have increased and prices are stabilising. It has been reported by Tecnocasa as the company highlights how “the Italians are still interested in real estate thanks to the prices never been so low, combined with low rates and a renovated hope due to the general improvement of the macroeconomic situation of the country “. More in detail, in the first semester of the year, compared to the same period of the previous year, sales have increased by 8.6% in Bari, 7.7% in Florence, 7.4% in Genoa, 8.3% in Milan, 9.5% in Naples, 14.6% in Palermo, 7% in Rome, 5.2% in Turin, and 3.8% in Verona. The only negative trend has been registered in Bologna with a fall of 0.5%.

The property prices have fallen by 0.4% in the first semester. This is the most contained reduction ever registered before and it “makes us believe that we’re close to stability and the recovery is starting”,  Tecnocasa says. In fact, some big cities have already started seeing their prices turning positive again, even if the variation is little: Bologna (+ 1.1%), Milan (+ 1.0%), Naples (+0.7%), and Verona (+ 0.5%). The prices in the other cities are falling, with Genoa at the bottom of the list with a loss of 3.0%. For the end of 2017, we can expect a stabilisation of the prices in the big cities and a further reduction in their commuting towns and in the provincial capitals, a trend confirmed by Tecnocasa’s real estate network. Prices will slightly rise in 2018, but only in the big cities and with a growth within 2%.

Sales are assessed to be around 550-570 thousand. “For what concerns leasings, we expect some more rounded up prices in the big cities. The general trend of the economy and of the occupation as well as of the banks, influencing the trust of the potential buyers, will contribute confirming or not the above pictured real estate situation”.

 

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

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