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Fewer auctioned houses in Lombardy: halved over the last 6 months

20 January, Avvenire

Houses for auction have fallen by almost 50% (-49.1%) in Lombardy in the last semester: another encouraging signal of the definitive exit from the recession, as shown by Biannual Report created ad hoc by the Sogeea research centre that was presented in the Italian Senate. The report, updated to the current month, shows a fall in execution sales from the 4,438 registered in July to the current 2,255. This performance is aligned to the one characterising the whole north of the country, with slightly different trends according to the region, and it contributes significantly to the -14.4% registered at a national level (from 22,969 to 19,650 procedures). This is the second consecutive fall reported by the sector that plummeted over the last year: compared to the beginning of 2017, with 33,304 units, the total fell by 41%.

“The general situation looks much less worrying than the one at the beginning of 2017 – said Sandro Simoncini, Sogeea president and research director -, considering that in the second quarter of 2017, the tax benefits for privates and companies launched two years ago stopped”. Simoncini believes that “the increase of potential buyers, favoured by digitalisation, made possible the growth of successfully completed transactions and in shorter times. We must add to this an increased availability from banks to renegotiate credits with whom is struggling”.

From the report, it emerges that 16% of the surveyed properties, equal to 3,170 units, is located in Sicily. In fact, the region, despite the reduction (the region had previously 3,875 open procedures), is now leading the chart (it used to be Lombardy before), followed by Lazio (2,328). Whereas at a provincial level, at the top of the chart there are Rome (1,462 houses for auctions), Naples (1,026), Palermo (987), Brescia (932) and Catania (893). Properties of not particular value prevail: 66% of the houses for auctions are priced below 100,000 euro, nearly 64% in Lombardy. Always in the region, only two properties for execution sale are valued over 3 million euro, while there are 21 of them in the rest of the country.

Source: Avvenire

Translator: Cristina Ambrosi

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