Italy and Coronavirus: consequences on prices
As already appeared in many international newspapers, since this morning, the entire Italian peninsula is totally armored. A strong measure, to try to contain an epidemic that is bringing the entire globe to its knees. Canceled flights, travel between municipalities only in cases of extreme necessity and for supplies. In short, the decree called by most '' I stay at home '' fully conveys the criticality of the rampant phenomenon.
Together with the ‘’ Beautiful Peninsula ’’, other neighboring nations are also adopting fairly stringent security measures. But what interests us, and which deserves particular attention, is the relationship between COVID-19 and the real estate market. In detail, what will be the consequences related to Coronavirus in the Italian real estate market, after such a drastic decision?
To give a fairly comprehensive answer, we have left the floor to the main experts in the sector, to give us a clear overview and as close as possible to the main repercussions that the Italian real estate market will have.
According to what has been reported, in the previous forecast of an Italian GDP up 3.3 percentage points, currently we are talking about 2.8 percent. An impact of the virus that has reached half a percentage point worldwide. (always in terms of GDP). The euro area, however, still expects a growth rate of 0.5%. But Italy is paying the highest price for the entire slowdown (fortunately not yet stagnating).
But the policy implemented less than 24 hours ago, to protect the health of the population and against the proliferation of the virus, will probably serve to limit its damage. Even on a real estate level.
Before going into the Italian real estate, we will try to give an overview of the European real estate market. The residential sector in Europe is likely to suffer a price slowdown. In some areas, such as Spain and Ireland, this phase has already been reached. However, it must be taken into account that there will be no lack of incentives to lift the international economy. Like the European Central Bank, it will continue to receive support, keeping rates at very attractive levels.
Now, let's go into one of the countries most affected by the spread of COVID-19. How do you view the Italian real estate? Well, you will probably be amazed at how much you are about to read. The current critical circumstance could cause an increase in property prices on national soil. There is talk of an increase of 0.5% (against a very low 0.1% recorded last year). But how will potential investors be encouraged to purchase a property in Italy? Simply thanks to the very low economic accessibility and, above all, to the sufficient financing costs. Especially in the most attractive areas of the Peninsula.
On the other hand, the Italian real estate market has always been characterized by a very high propensity to dynamism, which has allowed it to recover even in particularly critical periods.
It is therefore hoped that this situation will still be mitigated. In the meantime, we just have to stay updated on our portal!
Together with the ‘’ Beautiful Peninsula ’’, other neighboring nations are also adopting fairly stringent security measures. But what interests us, and which deserves particular attention, is the relationship between COVID-19 and the real estate market. In detail, what will be the consequences related to Coronavirus in the Italian real estate market, after such a drastic decision?
To give a fairly comprehensive answer, we have left the floor to the main experts in the sector, to give us a clear overview and as close as possible to the main repercussions that the Italian real estate market will have.
According to what has been reported, in the previous forecast of an Italian GDP up 3.3 percentage points, currently we are talking about 2.8 percent. An impact of the virus that has reached half a percentage point worldwide. (always in terms of GDP). The euro area, however, still expects a growth rate of 0.5%. But Italy is paying the highest price for the entire slowdown (fortunately not yet stagnating).
But the policy implemented less than 24 hours ago, to protect the health of the population and against the proliferation of the virus, will probably serve to limit its damage. Even on a real estate level.
Before going into the Italian real estate, we will try to give an overview of the European real estate market. The residential sector in Europe is likely to suffer a price slowdown. In some areas, such as Spain and Ireland, this phase has already been reached. However, it must be taken into account that there will be no lack of incentives to lift the international economy. Like the European Central Bank, it will continue to receive support, keeping rates at very attractive levels.
Now, let's go into one of the countries most affected by the spread of COVID-19. How do you view the Italian real estate? Well, you will probably be amazed at how much you are about to read. The current critical circumstance could cause an increase in property prices on national soil. There is talk of an increase of 0.5% (against a very low 0.1% recorded last year). But how will potential investors be encouraged to purchase a property in Italy? Simply thanks to the very low economic accessibility and, above all, to the sufficient financing costs. Especially in the most attractive areas of the Peninsula.
On the other hand, the Italian real estate market has always been characterized by a very high propensity to dynamism, which has allowed it to recover even in particularly critical periods.
It is therefore hoped that this situation will still be mitigated. In the meantime, we just have to stay updated on our portal!
