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The property market has recovered in Turin: 36 sales per day in the last nine months

17 December, l’Economia del Corriere Nord Ovest

The real estate market in Turin registered a recovery. The Real Estate Observatory of the Revenue Agency reported 2,882 transactions in the third quarter of the year. The market has grown by 4.5% compared to the same period of 2017 by 4% from the second quarter.

However, other big cities in Italy registered even greater increases between June and September: +23.7% for Bologna, +8.5% for Palermo and +7.2% for Genoa and Florence. Meanwhile, Rome and Naples grew by 3.5%, while Milan decreased by 2.4%.

Anyway, Turin ranked third concerning the number of transactions in the third quarter, behind Rome (7,151) and Milan (5,274).

On the overall, the total transactions in Italy’s eight biggest cities have been 22,315, 3.9% more than the July-September period when they were 21,472.

The sold houses in Turin were 3,738 in the second quarter and 3,905 in the first, for a total of 9,715 transactions since January, resulting in an average of 36 houses per day.

In the country, transactions were 130,609 in the third quarter, 6.7% more than the same period of the previous year. The increase is above 5.6%, and it confirms the consistent recovery of the market. This trend has been going on since 2014, and it has almost completely re-absorbed the losses registered in 2012.

Source: L’Economia del Corriere Nord Ovest

Translator: Cristina Ambrosi

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