Tag: Italian cities

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

Signs of recovery, sales are growing

 

The survey by Tecnocasa on the first semester of 2017: sales have grown in Rome by 7% and in Milan by 8.3%, in Naples by 9.5%, while they’re falling in Bologna. Prices are unchanged.

In the first semester of 2017, the real estate prices for the big cities have decreased by 0.4%, the most contained reduction ever recorded before. “We’re close to stability and the recovery is starting”, according to Tecnocasa. In Bologna, the price variation has been positive with +1.1%.

In the first semester of the year, the positive signals for the Italian property market are confirmed: sales have increased and prices are stabilising. It has been reported by Tecnocasa as the company highlights how “the Italians are still interested in real estate thanks to the prices never been so low, combined with low rates and a renovated hope due to the general improvement of the macroeconomic situation of the country “. More in detail, in the first semester of the year, compared to the same period of the previous year, sales have increased by 8.6% in Bari, 7.7% in Florence, 7.4% in Genoa, 8.3% in Milan, 9.5% in Naples, 14.6% in Palermo, 7% in Rome, 5.2% in Turin, and 3.8% in Verona. The only negative trend has been registered in Bologna with a fall of 0.5%.

The property prices have fallen by 0.4% in the first semester. This is the most contained reduction ever registered before and it “makes us believe that we’re close to stability and the recovery is starting”,  Tecnocasa says. In fact, some big cities have already started seeing their prices turning positive again, even if the variation is little: Bologna (+ 1.1%), Milan (+ 1.0%), Naples (+0.7%), and Verona (+ 0.5%). The prices in the other cities are falling, with Genoa at the bottom of the list with a loss of 3.0%. For the end of 2017, we can expect a stabilisation of the prices in the big cities and a further reduction in their commuting towns and in the provincial capitals, a trend confirmed by Tecnocasa’s real estate network. Prices will slightly rise in 2018, but only in the big cities and with a growth within 2%.

Sales are assessed to be around 550-570 thousand. “For what concerns leasings, we expect some more rounded up prices in the big cities. The general trend of the economy and of the occupation as well as of the banks, influencing the trust of the potential buyers, will contribute confirming or not the above pictured real estate situation”.

 

Source: Il Resto del Carlino

Translator: Cristina Ambrosi

Recovery of the property market. Palermo, Naples and Milan are booming

 

The growth of the real estate residential market has consolidated in the first semester of 2017, as shown by the Survey by Ufficio Studi Gabetti. A memo s explains that “the fundamental elements have been: the increased number of transactions and the reduction of the time to close a deal, in a context where prices have only slightly changed”. At national level, according to the analysis, in the first six months of 2017, the residential transactions have been 267,506, +6% compared to the same period in 2016. All the macro areas have registered a positive variation: +6.4% in the North, +5.5% in the Centre, and +5.3% in the South. Generally, the variation reported for provincial capitals have been +5.3% and +6.3% for the other cities. The biggest positive variation was recorded in the non provincial capitals of the North (+7.2%), followed by the Centre (+6.7%). Regarding the first eight Italian cities, 49,637 transactions have been registered in total, +7.3% compared to the same period in 2016. Similarly, the remaining provincial capitals have registered a variation of +5.8%. Throughout the whole six months period, Palermo has shown the biggest growth (+14.6%), followed by Naples (+9.5%) and Milan (+8.3%).

Similar trends have been reported in Florence (+7.7%), Genoa (+7.4%), and Rome (+7%). Turin has shown a +5.2% variation, while Bologna has been substantially steady (-0.5%). On the overall, the average price variation in the first semester has been of -0.7%, but with some distinctions: Milan (+0.9%), Bologna (+0.5%), Naples (+0.4%), and Florence (+0.1%) have shown a turnaround, registering positive variations, even if little. Rome (-0.4%), Turin (-1.2%), Palermo (-2.2%), and Genoa (-3.5%)have registered  a fall of prices. The average times to finalize a sale have reduced, going from an average of 5 months in 2016 to 4.8 months in the first semester of 2017.

The figures from Banca d’Italia regarding loans to families to buy a house have shown a positive variation in the first semester. The total amount issued has been 12.3 billion in the first quarter, +11.5% compared to the same period in 2016.

 

Source: http://www.ilmattino.it/napoli/cronaca/mercato_immobiliare_in_ripresa_e_boom_a_palermo_napoli_e_milano-3250820.html

Translator: Cristina Ambrosi