Tag: property transactions

Naples residential market shows declining transactions and stable prices

19 November, Il Denaro

Gabetti reports that, in the first nine months of 2020, property prices on the Naples real estate market have remained stable (-0.3%) compared to 2019, although transactions declined by 28.1% from the same period.

Posillipo and Chiaia are still the most expensive parts of the city with prices between 5.500-6,200 euro/Sq m, while prices in the Old Town are set between 2,600 – 2,750 euro/Sq m. Finally, the areas of Materdei Vecchia, Sanità, San Lorenzo, Vicaria and Mercato report lower prices ranging from 1,725 to 2,200 euro/Sq m.

Source: Il Denaro

Translator: Cristina Ambrosi

Tecnocasa: residential transactions down by 27.2%

25 October, La Nazione

Tecnocasa reported that, in Q2 of 2020, residential transactions declined by 27.2% compared with the same period of 2019, with 116,174 transactions versus 159,619 of the previous year. Such a result is not surprising considering the effects of the lockdown on the market. Naples and Palermo respectively decreased by -35.8 % and -34.2%, followed by Bologna (-28.1%), Turin (-27.5%), Milan (-26.5%), Rome (-23.4%), Florence (-23.3%) and Genova (19.9%).

Source: La Nazione

Translator: Cristina Ambrosi

The residential market in Trentino tries to restart after Covid

17 September, Italia Oggi

According  to Fimaa, property transactions in the region of Trentino dropped by 21% between April and June 2020 as a consequence of the lockdown. Despite that, the market resumed growing in July, with the hope for a positive close of the year. If we look at the economic cycle from a broader point of view, there are the conditions to consider investing in real estate such as the convenient interest rates and the prices slowly on the rise.

Source: Italia Oggi

Translator: Cristina Ambrosi

Residential transactions expected to return to pre-pandemic values in Milan

24 August, Il Sole 24 Ore

The Milan residential market is expected to recoup what had lost during the pandemic very soon. Meanwhile, the Revenue Agency reported 4,936 transactions, the lowest result in the last five quarters. Fimaa forecasted decreasing transactions set between 20% and 25% compared to 2019. It will likely take three or two years to return to the same values as 2019, while investment purchases in Milan sank by 20%. Nomisma reported a slight decrease in prices (-0.4% over six months) and a sharper reduction for rents (-0.9%).

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

 

Istat: property prices register a growing trend as transactions decline

03 July, Istat

Istat reports that the IPAB Index, which measures the prices of properties bought as main residence as well as investment, grew by 0.9% in Q1 of 2020 compared to the previous quarter and by 1.7% compared to the same period of 2019.

Meanwhile, transactions sharply decreased (-15.5%) due to the measures adopted to contain Covid-19. However, this gap between increasing prices and declining sales did not have any relevant impact on the prices of residential properties since these were agreed before the pandemic started.

Source: Istat

Translator: Cristina Ambrosi

The residential market reported a -15.5% decline in transactions in Q1

05 June, Il Sole 24 Ore

According to the Revenue Agency, residential transactions registered a sharp arrest in the first quarter of 2020 due to the lockdown. Transactions decreased by 15.5%, corresponding to over 14,000 sales less compared to the same period of 2019. In Milan, Naples and Genoa, operations dropped by approximately 20%. Rome and Florence reported respectively -8.1% and -10.8%, continuing a negative trend started at the end of 2019.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

The residential market tries to restart (despite the uncertainties)

18 May, Il Sole 24 Ore

Scenari Immobiliari estimates residential transactions dropping to 83 billion euro in 2020 from the previous 96 billion registered in 2019. The restart heavily depends on the income of the households, which suffered the closure of many businesses. Transactions, however, are expected to resume growing in 2021 (100 billion).

According to the portal Casa.it, searches have restarted after the initial shock, with the preference for houses featuring terraces, balconies and plenty of light. Prices will likely increase for quality properties, while they will decrease for low-quality houses.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Tecnocasa: investments in rental properties have grown in the last five years

13 May, Tecnocasa

Tecnocasa reports that investments in rental properties had risen from 18.5% to 25% over the previous five years in all the major Italian cities. Naples registered the most significant increase, having rental properties gone from 28.9% in 2014 to 42.9% in 2019. Milan confirms being a very dynamic market, with purchases increased from 15.3% to 26.1%.

Investments had also grown in Verona (from 23% to 30.8%) and Rome (4.5%), thanks to their popularity as tourist destinations. Purchases had increased in Palermo, especially in the area around the university (from 23.4% to 26.8%). In Turin, rental properties had risen from 17.3% to 25% targeting mostly students, workers and tourists.

Source: Tecnocasa

Translator: Cristina Ambrosi

Naples: transactions declined by 2.4% in 2019 except in the old town

30 April, Il Denaro

Tecnocasa reports that property transactions in Naples decreased by 2.2% in the second part of 2019 compared to the same period of 2018, while prices increased by 2.2%. The decline amounted to 2.4% if we consider the whole year, which corresponds to over 7,400 property transactions.

Naples old town represents an exception since the area registered a spike of the demand for tourist rentals. Rents to students and healthcare professionals also reported good results with two-room apartments costing around 500-550 euro a month.

Source: Il Denaro

Translator: Cristina Ambrosi

Sardinia: the effects of Coronavirus on property sales

07 April, Gallura Oggi

According to Nomisma, in Sardinia, and more specifically in the region of Gallura, there will be a loss between 9 and 22 billion in euro in residential property sales this year, with transactions down by 50-120 thousand compared to the forecasted 650 thousand. The reduction in the transaction volume will likely cause prices to decrease further.

Source: Gallura Oggi

Translator: Cristina Ambrosi