Tag: Confedilizia

Transactions for non-residential properties have decreased

22 October, Italia Oggi

Transactions for properties for artisanal, commercial, industrial and office use have fallen by 27.1% in the span of one year. The data is taken from the real estate report published today by Istat which compared the third quarter of 2018 with the same period in 2017.

The north-west of Italy has reduced by 26.6%, the north-east by 41.1%, the centre by 22.1%, the south by 13.7% and the islands by 17.1%.

Confedilizia president Giorgio Spaziani Testa commented: “These results confirm that it’s necessary to implement strategies to revitalise the sector of non-residential properties, which suffers from various factors, especially from the heavy taxation”.

Source: Italia Oggi

Translator: Cristina Ambrosi

A further 5% reduction in the real estate values

06 February, Italia Oggi

“The Notary Association reports a further decrease in the value of real estate assets as never recorded before”, states Confedilizia president Giorgio Spaziani Testa. “According to the report, the average price of real estate properties registered a 17% decrease in 2017, and they reduced even further in the first half of 2018 in comparison with the same period of the previous year”.

Eurostat comments that this negative trend has lasted already for several years in Italy, unlike the rest of Europe, without considering properties with no market. These figures are worrying, and they require an answer from politicians. It would be ideal to have a fiscal shock of opposite sign to that the country had in 2011, which is still impacting real estate and all the related sectors. The system can’t support anymore a tax property for fifty billion euro.

Source: Italia Oggi

Translator: Cristina Ambrosi

Transactions for shops and offices plummeted

08 December, Il Tempo

Confedilizia warns about the sharp fall in the sales for shops and offices. “According to the data from the Revenue Agency, the transactions for non-residential assets decreased by 10.3% in the third quarter of 2018 in comparison with the same period of 2017”. In Italy’s most populous cities (Rome, Milan, Turin, Naples, Genoa, Bologna and Florence), transactions for offices have decreased by 27.9% on average, with Florence reporting -59.8%, Rome -52%, Bologna -39.6% and Naples -37.2%. For what concerns shops, Genoa registered -22.9%, Milan -15.5% and Turin -3.5%.

Source: Il Tempo

Translator: Cristina Ambrosi

 

Property prices dropped by 15% in one year

07 November, Italia Oggi

“The data from the National Council of Notaries on the real estate market trend are worrying. From 2017, the average value of transacted properties has dropped by 1% (14.9%), having gone from 148 thousand to 126 thousand euro. If we make a comparison with the previous years, this percentage is even higher. This is another confirmation of the absolute critical status of Italian real estate, which Confedilizia has been denouncing for a long time”, declared Confedilizia president Giorgio Spaziani Testa.

“The savings of the Italian families and companies are reducing day after day. Too many are positive towards the partial recovery of the number of transactions without considering that they are for large part actual sell-outs.  As we can see from the Eurostat figures, the Italian real estate market differs from the rest of Europe for one simple reason: the application in Italy of insane fiscal policies that destroyed the whole sector and the related economy. It’s time to acknowledge this and to take actions in the opposite direction”.

Source: Italia Oggi

Translator: Cristina Ambrosi

The crisis of real estate is not over yet. More transactions but at prices are unchanged

05 October, Il Tempo

The trend of the Italian property market. After having plummeted in the past years, the market seems to have stabilised, but it’s still far from a recovery. Istat reports that in the second quarter of 2018 the prices of the transacted houses, investments included, have increased by 0.8% from the last three quarters, while they have decreased by 0.2% compared to the same period of 2017. This negative trend has slowed down compared to the -0.5% of the previous quarter. However, if we compare the figures with those of 2010, property prices in the second quarter of 2018 have decreased by 15.8%. According to Istat, such a reduction concerns only existing houses, whose prices have dropped by 22.1%, while new homes have registered a 0.8% increase. If residential transactions are recovering with a yearly increase of 5.6%, as reported by the Revenue Agency, the market seems to appreciate new construction.

The second quarter of 2018 confirms this trend. In the last three months, the price increase has also concerned existing properties, which have increased by 0.7%, but new houses have grown at more than double the rate, 1.7%.

However, we must remind that the results of the first quarter of 2018 were negative for new houses (-1.6%). On average, property prices in the first quarter of 2018 have decreased by 0.4% in comparison with the same period of 2017. The weight of new construction in the general Istat index is equal to approximately one-fifth, having increased by 1.3% while existing properties have decreased by 0.9%.

The new figures by Istat on the property market are alarming. In one year, prices for existing houses have further decreased by 0.7%, with some dramatic slumps such as -2.2% in Rome, where even new construction decreased (-5.5%). Due to the introduction of the Imu tax and the Tasi tax bringing the total taxation on properties to 150 billion this year, the prices for existing houses have reduced by 22.1%. In addition, there are also the many properties with no value as they’re impossible to sell or to rent”, commented Giorgio Spaziani Testa, Confedilizia president. And he adds: “We must solve the cause that brought to this anomaly in the Italian market which is mainly represented by the disproportionate taxation”.

Source: Il Tempo

Translator: Cristina Ambrosi

Property prices, -15% in one year

05 September, Italia Oggi

The Confedilizia president, Giorgio Spaziani Testa, commented that “the data coming from the national committee of notaries are worrying. In one year, the average values of properties plummeted by almost 15% (14.9%), having gone from 148 thousand to 126 thousand euro. If we compare these figures with the previous years, the decrease would be even sharper. This is another confirmation of the crisis of Italian real estate, as Confedilizia denounced a long time ago. The savings of families and enterprises are reducing with the days. However, too many continue seeing with optimism the partial recovery of transactions, although most of them are actual sell-outs”.

“Italian real estate is in countertrend in comparison with the other European countries, as shown by Eurostat. The reason is very simple: the insane fiscal policies had literally annihilated the whole industry and all the businesses connected to it. It’s time to acknowledge this and take measures to change the trend”.

Source: Italia Oggi

Translator: Cristina Ambrosi

Real estate is still in crisis

06 June, Italia Oggi

“Istat shows that in Italy properties prices are still decreasing, draining families’ savings. Italy is the only country registering such a phenomenon, considering only the properties that can be sold (in many cases, sold off). There are also properties that are not being sold or rented”, said the president of Confedilizia, Giorgio Spaziani Testa. “We must intervene. Together with other associations, we’ve presented to the Parliament a manifesto of 10 proposals to relaunch the sector. We hope it will be taken into consideration by the new government”.

Source: Italia Oggi

Translator: Cristina Ambrosi

House prices have been decreasing since 2012. Transactions are recovering

06 June. Italia Oggi

“The figure disclosed by the Revenue Agency, Abi and Istat show that the Italian property market is still in difficulty. In terms of transactions, the slow recovery of the losses registered in the last years has not brought the market back to the 2011 levels, while the factors of this recovery (lower prices, lower interest rates, more credit from banks, increased purchasing power) should have produced far better results”, said the president of Confedilizia, Giorgio Spaziani Testa. “Concerning prices, the situation is even worse. In fact, Istat has confirmed that Italy is the only European country where property prices have been continuously dropping since 2012. Many are still underestimating what happened during that period, but who lives in the real world knows it well: the property tax tripled with all its negative consequences on the economy. Will we read some recommendation from the EU Commission tomorrow on this matter?”.

Source: Italia Oggi

Translator: Cristina Ambrosi

Houses, prices down by 20% in seven years

01 November, Italia Oggi

“The regular memo on real estate crisis comes from Istat. According to the Institute of Statistics, house prices continue to go down: -0.3% in the second quarter of 2017 compared to the same period of the previous year and -20% compared to 2010”, stated the president of Confedilizia Giorgio Spaziani Testa. “Reality is more serious, considered that in many cases this price reduction is more accentuated and Istat doesn’t take in account the many properties that are no longer marketable and, consequently, have no value. We must remember that real estate is the only sector that doesn’t seem to recover. The main reason is the heavy taxation that generated what Istat calls the significant fall registered between 2012 and 2016 (started just after Imu was introduced, triplicating the exposure of properties). We must intervene with measures capable of regaining trust in the sector. The new budget is the right occasion to do this”.

Source: Italia Oggi

Translator: Cristina Ambrosi