Tag: Italian real estate

The real estate market is waking up, but Genoa is at the bottom of the list

 

Genoa is at the bottom of the list for what concerns real estate figures. If in the first semester of 2017 the main cities registered contained reductions or even a positive trend of the prices, Genoa reported a loss of 3.0%, unlike Bologna (+1.1%), Milan (+1.0%), Naples (+0.7%), and Verona (+0.5%).

Generally, according to Tecnocasa, the figures confirm the positive trend: sales are increasing and prices are close to stabilisation. “Therefore, 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”, explains the real estate agencies company.

The demand is rising and the offer is starting to decrease, especially for the best positioned or the best-conserved properties. The three-roomed apartment is the favourite in the big cities with 40.1%, followed by the four-roomed apartment with 24.7% of the preferences.

The amount people are willing to pay is increasing in the big cities for the lowest price range, the one below 119 thousand euro, which also shows the highest concentration of requests. The analysis of the offer sees the predominance of three-roomed apartments (32.8%), followed by the four-roomed ones with 25%. The times to close a sale are shrinking compared to the previous year and they are currently around 141 days in the big cities, 167 days in the provincial capitals, and 162 days in the commuting towns around the big cities.

In 2017 we’ll see the figures stabilize in the big cities and will reduce further in the commuting towns and in the provincial capitals. The prices are expected to slightly rise in 2018, but only in the big cities, with a growth within 2%. The sales are assessed around 550-570 thousand. For what concerns leasings, we expect some more rounded up prices. The general trend of the economy and of the employment as well as the banks, influencing the trust of the potential buyers, will contribute confirming or not the above pictured real estate situation.

 

Source: http://www.genova24.it/2017/09/mercato-immobiliare-risveglio-del-mattone-genova-fanalino-coda-186273/

Translator: Cristina Ambrosi

Real estate, record semester in Italy for commercial properties

 

Record growth of the real estate market in Italy in the first half of 2017, with investments in commercial properties, spiked at 4.9 billion euro, increasing by 40% compared to the same period of 2016. This is the best semester ever.

According to Cristiana Zanzottera, Research Department of BNP Paribas Real Estate, the current situation in Italy is particularly positive for the commercial real estate with investors ready to close the operations even for minor locations or for less liquid products as long as the asset is good.  “A big contribution to the 4.9 billion euro result of this semester came from the closing of the Scarpellini portfolio for a value estimated around 415 million euro as well as the acquisition by Credite Agricole of 40% of Beni Stabili. All operations that show a general interest in the national real estate”, says the expert.

Office, retail and alternatives trends

In more detail, the office segment registered also for this semester the majority of the total volumes with about 2 billion euro investments (42% of the total) with  31 operations altogether including 6 portfolios. Also, the retail segment performed well, totalling in the first part of the year about 1.2 billion euro, the double compared to the same period of last year. Not to mention also some transactions in the alternative investments segment and particularly in nursing homes.

The weight of foreign capital

Regarding the origin of the capital, the Italian market has continued to attract international capitals also this year. According to BNP Paribas Real Estate, 60-70% of the investments in the first semester concerned foreign capital. “In the first half of 2017 we have registered a significant increase of European capitals compared to the figures of the previous year referring to the same period”, continues Zanzottera. “The German investments have doubled while those from Britain and France have considerably grown. Also, the capitals from United States have increased (+10%), even if in a more contained way.

Return decreasing for retail

The retail segment is particularly dominated by foreign capitals, which represented in the first semester of 2017 the 75% of the total investments”, explains Zanzottera, according to whom the prime net returns have decreased in the first semester, with 3.15% for Milan High Street and 5% for Shopping Centres.

 

Source: http://www.advisoronline.it/private-banker/strategie/43297-real-estate-semestre-record-in-italia-per-gli-immobili-commerciali.action

Translator: Cristina Ambrosi