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A further 5% reduction in the real estate values

06 February, Italia Oggi

“The Notary Association reports a further decrease in the value of real estate assets as never recorded before”, states Confedilizia president Giorgio Spaziani Testa. “According to the report, the average price of real estate properties registered a 17% decrease in 2017, and they reduced even further in the first half of 2018 in comparison with the same period of the previous year”.

Eurostat comments that this negative trend has lasted already for several years in Italy, unlike the rest of Europe, without considering properties with no market. These figures are worrying, and they require an answer from politicians. It would be ideal to have a fiscal shock of opposite sign to that the country had in 2011, which is still impacting real estate and all the related sectors. The system can’t support anymore a tax property for fifty billion euro.

Source: Italia Oggi

Translator: Cristina Ambrosi

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