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Emilia Romagna is doing well. The earthquake slows down the market in Marche

17 December, Il Resto del Carlino

The situation is varied in the property markets of Emilia Romagna and Marche. The sales figures show that some cities are growing while some others are decreasing. This picture is provided by the research centre of Tecnocasa updated with the results for the first semester of 2017 in comparison with the same period of 2016. According to the study, in Bologna there have been 2,787 transactions, substantially aligned with the numbers of last years (-0.5), while in Ferrara sales have been 732, with an increase of 8.1%, in Forlì they have been 509 with an increase of 13.3%, in Modena transactions have been 925 with a contraction of -8.3%, Piacenza has registered 649 sales with a contraction of -5.2%, in Parma has seen 1,287 transactions with an increase of 5.4%, Ravenna 1,077 with an increase of 14.9%, Reggio Emilia 887 with an increase of 1.3%, Rimini 586 with an increase of 2.5%. Whereas the situation in Marche is still impacted by the consequences of the earthquake. In fact, while transactions are growing in Ancona and Pesaro, the trend for Macerata and Ascoli is negative. More in detail, in Ancona transactions, have been 525 with an increase of 5.3%, in Ascoli Piceno, they have been 135 with a contraction of -10.7%, Macerata has registered 163 transactions with a contraction of -17.7%, and Pesaro has reported 424 transactions with an increase of 1.7%.

Anyway, the general trend shows positive signals from the property market. Generally speaking, province capitals are registering the most of transactions and prices close to stabilization. Hence, the property market is still attractive in Emilia Romagna and Marche thanks to low prices and interest rates and a renewed trust due to the improved macroeconomic situation. The analysis of the sector shows that demand is rising, and supply has started decreasing, especially for well-positioned and renovated properties. The three-room apartment is the favourite with 40.1% of requests. It’s followed by the four-room apartment with 24.7% of preferences. From the analysis of the purchasing power in the big cities, it emerges that lower range (up to 119 thousand euro) has grown, where most of the requests concentrate. Among the big cities, also Bologna sees the predominance of three-room apartments (32.8%), followed by four-room apartments with 25%.

The times to sell a property are reducing compared to the previous year. It takes on average 141 days in the big cities, 167 days in provincial capitals and 162 in the cities of the hinterland. In the first semester of 2017, prices in big cities have decreased by 0.4%. This is the smallest contraction registered so far and it makes believe that the recovery is close. Some cities, in fact, have seen their prices rise again, even if by little, such as Bologna that has reported a variation of +1.1%.

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

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