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Real estate market, +2.8% in Sardinia

24 December, Ansa

Real estate is growing in Sardinia, as in the rest of Italy, registering 12,400 transactions in the island by the end of the year. Transactions have increased by 2.8% compared to 2016, even though the variation of last year compared to 2015 was of 18%. The growth of this year has been driven by the expansion in smaller cities, where the market has risen by 3.2%, against an increase of roughly 1.5% in the province capitals, in countertrend with the rest of the country. The figures are taken from the latest survey on the property market of the island by the research centre of the regional Cna.

In the smaller cities, the market has grown by 3.2%, while in the province capitals it has only 1.5%. Among the cities, Cagliari has reported the fastest recovery after the highest peak of 2004 (-23%). It’s followed by Oristano with a gap of 31.5% between 2017 and 2004, Sassari, -44% compared to 2004, and Nuoro, -46.5% compared to 2005. At a provincial level, the territories of Sassari, Nuoro and Oristano are still suffering. “What really matters – comment Porcu and Antonello Mascia, respectively regional secretary of Cna in Sardinia and regional president of Cna Costruzioni – is understanding where the market is nowadays, how much it has recovered from the deep fall in demand, with a stock of unsold properties that has accumulated over the years and prices that still haven’t started rising again.

Despite the growth this year has concerned mostly smaller cities – they note – in the long period, the numbers suggest that the recovery will be quicker in the main cities, that have already absorbed by 70% the pre-crisis levels, while the smaller cities have only by 50%”.

Source: Ansa

Translator: Cristina Ambrosi

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