Omi: growing trend for commercial assets

31 May, Italia Oggi

Retail and warehouses reported positive results concerning transactions, respectively with +4.6% and +0.6%, while office transactions decreased (-3.7%). The total transacted value is equal to 15.6 billion euro.

Retail registered 29,463 transactions in 2018 (+4.6% from 2017). Logistics has remained substantially stable (+0.6%) with 12,120 transactions. After having reported a growing trend for two consecutive years, offices have decreased (-3.7%), reporting 9.988 transactions in total.

Source: Italia Oggi

Translator: Cristina Ambrosi

Prices for dated properties continue decreasing

11 January, Milano Finanza

The residential market is going at two different speeds concerning the price trend. While prices for new construction are increasing, the remainder of the property market is losing value.

In the third quarter of 2018, the Ipab index, which monitors the prices of the houses bought by families for living or investment purposes, shows a 0,8% reduction if compared to the previous quarter (it was -0.4% in the second quarter of 2018) as well as from the same period of 2017. As reported by Istat, the negative trend of the Ipab index concerns only existing houses which decreased by 1.3% (it was -0.8% in the previous quarter). On the contrary, prices for new houses went from +1.2% in the second quarter of 2018 to +1.4% in the third quarter. This trend combines with the consistent growth of transactions, as these increased by 6.7% in the third quarter of 2018 as registered by Omi.

In general, the decrease in the Ibap index is due to the prices of dated properties which decreased by 1%. Prices for new houses have also reduced from the second quarter, although in a more moderate way (-0.2%).

Property prices in the first three quarters of 2018 have decreased by 0.6% from 2017, resulting from the negative performance of existing houses (representing over 80% of the total), which fell by 1%, and the positive performance of new houses, which grew by 1.2%. In comparison with the average values registered in 2010, the first year for which is the Ipab series are available, in the third quarter of 2018 prices decreased by 16.7% exclusively due to dated properties, whose prices dropped by 22.9%, while prices for new houses had generally increased, even though slightly (+0.2%). The rate of change reported by Ipab for 2018 is negative and equal to -0.5%.

Source: Milano Finanza

Translator: Cristina Ambrosi

Florence: more expensive houses but the market is doing well

07 January, La Nazione

Transactions are increasing, and property prices are growing. According to Nomisma, 2019 will be a positive year. The outlook regarding the first semester is positive, with a positive trend of prices and transactions. Hence, this is a good moment to sell a property or to invest.

Arrigo Brandini, president of Florence Fimaa Confcommercio, commented: “The trust in real estate is back, as it’s seen as a way to get a return from savings”. The old town is crowded with tourist apartments. The demand has spread to Oltrarno, in the northern and southern part of Florence. “In the past few years, the neighbourhood of Novoli has been requalified, with a positive effect on transactions and prices”, stressed Brandini.

Generally, Nomisma reported that prices increased by 0.2% in the past year, and they’re expected to rise by 3.2%, setting at 5,300 transactions per year. It takes shorter to sell dated properties, having times reduced by almost one month. It generally takes 4 months in the city centre and about 6.5 months in the suburbs. The average discount on the initial offer (discounted at 12%) reduced by almost one percentage point. It’s set at 9-10% in the prime areas and 16% on the outskirts. Today, the most requested property types are three-bedroom apartments (31.4%), followed by two-bedroom apartments (29.5%) and one-bedroom apartments (17.3%).

The latest survey by Omi (the Revenue’s real estate observatory) dated June 2018 shows that property prices in Campo di Marte are between 2,450 and 3,000 euro/Sq m. Rates are lower in the area around Piazza Dalmazia and Via del Romito, set between 2,150 and 2,700 euro/Sq m, and in Isolotto, from 2,100 to 2,600 euro/Sq m. The old town reported the highest prices. According to the property type, prices go from 3,400 to 4,700 euro/Sq m. After all, mortgages are still convenient.

Source: La Nazione

Translator: Cristina Ambrosi

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