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Slowly out of recession

17 September, Tecnocasa Group

The positive signals of the Italian real estate market are confirmed. According to the Revenue Agency, the transactions have increased by 5.0% nationally. In the main cities, the increase has been equal to 2.2%. Tecnocasa reports that these cities have also seen the property prices rising by 0.9%. The property market is growing thanks to the low prices and the convenient interest rates. The cities that registered the sharpest increases in transactions have been Bari (+13.7%) and Verona (+8.2%). Bologna has stayed stable, while Rome has recorded a slight decrease (1.3%).

Let’s take a look at the main trends:

–    The demand is rising, and the offer has started to diminish. Especially for what concerns properties in prime locations and in good conditions. Two-bedroom apartments are the favourite, representing 40.8% of the transactions, especially in big cities. Milan is the only exception where one-bedroom flats got 44.9% of the inquiries.

–    The analysis of the amounts people are willing to pay shows an increase in the percentage of the lower price range, up to 169 thousand euro, where the majority of requests concentrates. The regional and provincial capitals have reported a similar trend.

–    The analysis of the offer shows the preference of two-bedroom apartments (40.8%).

–    The time that takes to sell a property has reduced from last year. In the big cities, it’s around 134 days, in provincial capitals 157 days, and in the towns in the hinterland of the big cities 164 days.

–    The volumes of transactions are rising

Variation in the number of transactions
  Q1 2018  Q1 2017 Var %
Bari 1679 1477 +13,7%
Bologna 2796 2787 +0,3%
Florence 2676 2633 +1,6%
Genoa 3562 3524 +1,1%
Milan 12170 11842 +2,8%
Naples 3993 3740 +6,8%
Palermo 2809 2724 +3,1%
Rome 15612 15815 -1,3%
Turin 6833 6573 +4,0%
Verona 1667 1540 +8,2%
Source: Tecnocasa research centres based on the dates of Agenzia delle Entrate (Revenue Agency)

 

In 2018 prices in the big cities are expected to slightly increase (up to 3%), while their hinterlands and the provincial capitals will remain stable. The trend is also confirmed by the sentiment online. Transactions might reach 550-560 thousand. Regarding rentals, prices will rise slightly in the big cities. The general trend of the economy and occupation along with the politics of banks and the trust of the potential home buyers will help to confirm this outlook.

Source: Tecnocasa Group

Translator: Cristina Ambrosi

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