OMI quarterly statistics: real estate is growing

 

The quarterly statistics by OMI (Revenue’s real estate observatory) are very clear. In the second quarter of 2017, the real estate market has grown, even though the rates are slowing down compared to the first semester.

OMI has recently published the figures referring to the second quarter of 2017. The Italian property market is rising. In fact, the survey reports an increase of transactions of houses equal to 3.8%, while those for accessory properties such as cellars and attics have grown by 10.1% compared to the same period of the previous year. The commercial segment too reported a growth with +6.2%, whereas the industrial one shows a growth of 4.9%. The residential market continues to grow confirming the positive trend of the last 3 years. In the period between April and June 2017, 145,529 houses were sold, approximately 5,000 more compared to the same quarter of 2016.

The South registers the highest variation with +5.0%. The Islands report a smaller variation (+0.9%) but we must consider their market weights one-tenth on the total national market. The figures concerning the North-East and the Centre are equal to +3.6%, while in the North-West they’re slightly higher (4.3%).

However, the growth rates of the property market have slowed down compared to the first quarter.

 

The real estate market in the big cities

The residential market has shown the highest growth rate in the big cities with +4.4%. These are the results concerning the first eight Italian cities per population:

  • Naples: house purchases increased by 13.6%
  • Palermo: +8.3% growth
  • Turin registers +5.7%
  • Rome and Milan report results slightly over 4% falling in the average for big cities
  • Genoa remains unchanged with +1.3%
  • Florence only registers 0.9%
  • Bologna reports a negative trend with -4,3% with little more than 1,500 sales

 

Allocated depots

The situation concerning depots is quite different, in the eight main Italian cities, the sales of allocated depots have grown in total by 9% compared to the second quarter of 2016. Here are the more relevant facts:

  • The sales of cellars and attics in Bologna have registered an increase of 27.3%, while in Florence they have decreased by 9.2%
  • The transactions of storage and parking spaces in Naples and Florence have grown respectively by 23.1% and 18.3%. Palermo and Bologna have registered a fall around 10%.

 

Source: http://www.visureitalia.com/smartfocus/mercato-immobiliare-in-crescita-statistiche-omi/

Translator: Cristina Ambrosi