# 10yearschallenge also in real estate: how Italian brick has changed in ten years
In ten years there are many changes that can take place in all sectors of the economy and not less in the real estate sector. On the various social networks the so-called # 10yearschallenge is going crazy, in which the photos of ten years ago are compared with the current ones to notice the changes.
We decided to create a sort of frame of those that were 10 years of the Italian real estate market, to understand the various positive and non-brick evolution.
Ten years ago for Italy, a really critical phase began, the one that inaugurated the economic crisis that involved the whole European and extra-European real estate market.
In fact, in 2008, after years of extreme expansion on all fronts, the real estate market suffered a drastic stop, with a collapse in property prices of 6% while contracts and purchase and sale transactions were approximately 700 thousand.
The time frame in which a house remained on the real estate market before it was sold was 130 days but anyway the rental applications were in turmoil.
We can say that given the presence of stable fees, the abundance of the offer was sufficient to satisfy a still present demand. In 2018, exactly after ten years from this situation, the trades have gone from 700 to 600 thousand, with a price variation of + 3%.
The sales times have instead lengthened by 4 days but the most requested type is always that of the three-room apartment. Obviously the recovery is not uniform, but however we can generally say that the situation seems to have recovered slightly.
The rent today is required much more in demand than many years ago.
Although the real estate sector was experiencing an expansive phase, at present it seems to register a post-crisis growth phase. The starting situation is undoubtedly less prosperous than 10 years ago, with more limited and contained dynamics. The limit was undoubtedly marked by the presence not only of the crisis but also of bank credit.
The construction sector also played a role in influencing the Italian real estate market.
Ten years ago, it has lost as much as 60% of its turnover and currently only some cities are driving this sector. Milan is the first in the standings but many other cities are still in a deadlock.
Even the choices of economic policy have been crucial at this stage. The penalization was caused in fact by the boom that have registered many other sectors such as technology and information technology that have literally dispossessed as many.
However, an element that has changed positively over time is the constructive quality that, in parallel with an increase in price, has in any case brought greater feedback from investors, who are increasingly inclined to buy a certain level of real estate.
We can summarily state that the real estate market has undergone two critical phases, one international and one limited to the Italian economy.
Demand has become increasingly selective, as Italians are not only looking for buildings of a certain level, but also for energy efficiency, green and smart, and well positioned in cities perfectly linked to the various points of interest.
What can I say, this # 10yearschallenge was really amazing!
We decided to create a sort of frame of those that were 10 years of the Italian real estate market, to understand the various positive and non-brick evolution.
Ten years ago for Italy, a really critical phase began, the one that inaugurated the economic crisis that involved the whole European and extra-European real estate market.
In fact, in 2008, after years of extreme expansion on all fronts, the real estate market suffered a drastic stop, with a collapse in property prices of 6% while contracts and purchase and sale transactions were approximately 700 thousand.
The time frame in which a house remained on the real estate market before it was sold was 130 days but anyway the rental applications were in turmoil.
We can say that given the presence of stable fees, the abundance of the offer was sufficient to satisfy a still present demand. In 2018, exactly after ten years from this situation, the trades have gone from 700 to 600 thousand, with a price variation of + 3%.
The sales times have instead lengthened by 4 days but the most requested type is always that of the three-room apartment. Obviously the recovery is not uniform, but however we can generally say that the situation seems to have recovered slightly.
The rent today is required much more in demand than many years ago.
Although the real estate sector was experiencing an expansive phase, at present it seems to register a post-crisis growth phase. The starting situation is undoubtedly less prosperous than 10 years ago, with more limited and contained dynamics. The limit was undoubtedly marked by the presence not only of the crisis but also of bank credit.
The construction sector also played a role in influencing the Italian real estate market.
Ten years ago, it has lost as much as 60% of its turnover and currently only some cities are driving this sector. Milan is the first in the standings but many other cities are still in a deadlock.
Even the choices of economic policy have been crucial at this stage. The penalization was caused in fact by the boom that have registered many other sectors such as technology and information technology that have literally dispossessed as many.
However, an element that has changed positively over time is the constructive quality that, in parallel with an increase in price, has in any case brought greater feedback from investors, who are increasingly inclined to buy a certain level of real estate.
We can summarily state that the real estate market has undergone two critical phases, one international and one limited to the Italian economy.
Demand has become increasingly selective, as Italians are not only looking for buildings of a certain level, but also for energy efficiency, green and smart, and well positioned in cities perfectly linked to the various points of interest.
What can I say, this # 10yearschallenge was really amazing!
