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Tuscany real estate is growing with more transactions completed

15 February, La Nazione

The Tuscany real estate is recovering. Property prices are not supposed to rise in 2019, but sales will increase further between 3% and 5%. This is the forecast by Fiaip Toscana included in its first real estate regional report which was presented yesterday in Florence in the Region of Tuscany headquarters. The growth, however, is still very fragmented. Florence and Pisa are the fastest growing cities, followed by Siena, while Arezzo and Prato are still struggling. Fiaip Toscana president Simone Beni explains that “Prato is still suffering from the economic recession. Paradoxically, properties in the city centre are cheaper than those in the suburbs. Criminality is an issue in the centre, as well as the lack of services and, as a result, families prefer to move somewhere else”.

The report presented together with regional council president Eugenio Giani, also registers the price for a non-prime three-bedroom house with a surface between 80 and 100 Sq m. This is the preferred property type by families. The highest rates are reported in the main cities as well as on the coast, especially in Versilia, Santo Stefano, Marino di Grosseto, Castiglione della Pescaia, San Vincenzo.

Beni says that “The year has started slowly, as the approval of the restructuring benefit came with some delay. The market has restarted now, thanks especially to purchases in city centres”. The suburban and rural areas are the most penalised. On the overall, however, this is a good moment to buy a property. “Prices are stable. Mortgage rates are very low. Banks issue twenty-year loans with interests even below 2%”.

The time to sell properties has also reduced, having gone from three to six months on average, thanks to technology. The Fiaip president stresses that “Real estate portals can get the attention of potential buyers almost in real time. This means that two weeks after having put the advertisement it’s already possible to schedule three or more views”.

Fiaip Toscana made two requests to the Government and the institutions. Beni said: “We demand transparency and the certainty of rules. We want to be an active part in the negotiations and the discussions concerning real estate”.

Source: La Nazione

Translator: Cristina Ambrosi