27 January, Monitor Immobiliare
There are only weak sings for the moment, but they’re nonetheless a turning point. Istat reports that in the first part of 2017 the construction permits grew by 7.8% on a yearly basis, the sign that in Italy construction has restarted. The number of new houses went from 9.5% in the first part of 2017 to 13.6% in the second part of the year.
According to the most recent data, in November the seasonally adjusted index for new construction has registered an increase of 0.4% compared to the previous month. The cost indexes of the sector have increased by 0.1% for residential properties and by 0.2% for the roads without galleries while it has increased by 0.1% for the roads with galleries. If we look at the average for the September-November period, the seasonally adjusted index for new construction has increased by 0.3% compared to the previous quarter.
In conclusion, the picture emerging from these numbers is positive. We’ve been assisting for the last three years at a recovery of transactions (even though we’re well below the pre-crisis levels) and, for what concerns prices, there are signs of stabilization with an outlook of growth for the next months. Now, the long-awaited recovery of construction, the missing piece for a sector that had to deal with a recession lasted over ten years, having been hit by the economic crisis as well as by heavy taxation.
Source: Monitor Immobiliare
Translator: Cristina Ambrosi