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Vicenza, prices are slightly recovering

25 February, Il Sole 24 Ore

The new year has opened with positive results for residential sales in Vicenza after the recovery was confirmed in 2017 with transactions increased from 2% to 5% in comparison with 2016. “The advantages of this market phase- intervenes Fabio Salvadore, Re/Max real estate agent – is that prices have stopped their fall reported in 2015-2016”.

Over the last 12 months, prices have fallen “only” of a couple of percentage points, and the decrease should be even smaller in 2018. This is only an average, and there are some exceptions: “In some parts of the city – continues Salvadore – we have already started noticing some increases. For instance, in areas such as Borgo Berga and the surrounding areas, such as around the new Court and the University”. One of the reasons for this growth of values is represented by investors, that have returned investing in the city, especially in small- and medium-size apartments, to rent. Besides, purchases for the primary residence are also recovering, as well as the demand for new construction. The stock of unsold properties, that has accumulated over the recent years especially in the semi-centre and in the suburbs, has slowly started to reduce with prices between 1,400 and 2,100 euro/Sq m. On average, it takes 8.5 months to sell a house with discounts around 16.5%.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

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