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The residential market further declined in 2019 except for Milan and Rome

12 February, Patrimoni & Finanza

The past year closed with a negative price trend for residential properties (-2.8%), and such decline might also continue in 2020, with the only exception of Milan and Rome.

There is a wide gap with the north and the south of the country, with the highs of Trentino Alto Adige (average price 339,000) and Valle d’Aosta (283,000 euro) and the lows of Basilicata (106,000 euro) and Molise (112,000 euro). The same is valid for cities: in Milan, the residential market is worth in total 207.4 billion euro, in Naples 104.5 billion.

Meanwhile, the property auction system is developing as a parallel market, with a turnover of 12 billion euro.

Source: Patrimoni & Finanza

Translator: Cristina Ambrosi