22 November, Italia Oggi
Real estate transactions reported a 4.7% growth in the second quarter of 2018 compared to the same period of 2017, while they increased by 4.5% in the first quarter compared to the first quarter of 2017.
According to the figures from Istat, the season adjusted index concerning transactions confirms the recovery of the real estate market also for the second quarter. The market started recovering from the second quarter of 2015 with approximately a 39% increase from the lowest values as reported at the end of 2013.
There is, however, still a 4% gap with the values reported in 2010. The only exception is northern Italy, where the figures returned to the values before 2010.
In the second quarter of 2018, the notary deeds concerning property transactions were 209,243, having grown by 1.6% from the previous quarter for residential (+1.7%) and commercial properties (+0.7).
This increase of the transactions generally concerns the north-west of the country (+3%), the north-east (+2.7%) and to a lesser extent central Italy (+0.4%). In the south, transactions were stable compared to the previous quarter, while they decreased in the islands (-1.3%). The residential market follows the general trend, while the commercial properties registered positive variations in the north-west (+6.9%) and the north-east (+0.6%), while they were negative in the centre (-6.5%), the islands (-3%) and the south (-1.5%).
On a yearly basis, real estate transactions on the overall increased by 4.7%. Residential properties follow the general trend (+5.1%), while the commercial ones reported a slight decrease (-0.6%).
Compared to the second quarter of 2017, the growth reported by the residential segment in the April-June period concerns all the geographical areas of the country: north-east +7.2%, islands +6.7%, north-west +5.4%, south +3.4% and centre +3.0% from big cities (+5.1%) to small towns (+5%).
Concerning commercial properties, transactions increased on a yearly basis in the north-west (+2.9%), while they were on the overall steady in the north-east (+0.4%) and they decreased in the centre (-4.5%), the south (-3.4%) and the islands (-1.4%). Both big cities and small towns reported a negative trend with -0.7% and -0.4% respectively. 94.3% of the transactions completed concern transfers of property of houses and auxiliary properties (197,362), 5.2% commercial properties (10,933) and 0.5% special-use properties and timeshares (948).
The notary deeds regarding mortgages, loans and obligations backed by mortgages (113,755) grew by 2.7% from the previous quarter and by 2.3% on a yearly basis. The notary deeds increased in the north-east (+4.2%), north-west (+3.2%), centre (+2.4%) and south (+1.7%), while they decreased in the islands (-2.3%). On a yearly basis, they increased in the north-east (+5.9%), islands (+4.6%), north-west (+2.1%) and south (+0.6%), while they decreased in the centre (-0.9%). Finally, notary deeds grew in big cities (+1.9%) as well as in small towns (+2.5%).
Source: Italia Oggi
Translator: Cristina Ambrosi