Italian real estate: has confidence returned?
A truly encouraging scenario for European real estate is envisaged. This is what has been recorded by the main statistical institutes. Indeed, it seems that confidence has returned to the real estate sector, especially in one of the countries most affected by the world crisis: Italy.
In fact, the beautiful peninsula has attracted many investors who have decided to relocate, buying a property in one of the various and beautiful regions that make it up. In fact, from the north to the south and especially in large metropolises and coastal cities, a considerable number of sales contracts have already been registered in the first month of 2020.
A decidedly positive sign, if we consider the tragic situation in which the peninsula was only last year.
But now let's see in detail how this phenomenon is being structured and how much it has affected the national economy.
Let's start with the numbers. Compared to 2019, there were about 600,000 the number of contracts (for sale and purchase) registered in Italy. 90% of them belong to the residential sector, which is therefore the driving force behind Italian real estate. The slow but decisive recovery in prices, compared to 2019, does not seem to have averted potential buyers who, regardless of their origin, seem to be more inclined towards the purchase of a property in the city, compared to the province. But what has helped and stimulated buyers to approach the brick market?
Interest rates. Well yes, according to statistical surveys, it seems that this year they have touched historic lows, despite the major credit institutions having decidedly limited the provision of mortgages. Limits that in fact are transferred to the request itself already registered at the beginning of the year. About 7% less than in 2019.
As we previously mentioned, the metropolises are configured as the most quoted realities for a hypothetical transfer. The main cities that generate great interest are undoubtedly the two 'capitals'. The official one, Rome, rich in history and wonderful houses from an architectural point of view, and that of fashion and business, Milan.
The latter, decidedly less tied to a secular history like Rome, has made the most of the richest areas at work level, to build residential areas where demand would certainly not be missing!
But there are also exceptions! Indeed, Bologna, Turin and the areas of the Amalfi Coast are also in great demand, famous for its natural beauty.
Italy therefore seems to emerge not only for the potential offered by the big cities, but also for its own artistic and cultural heritage.
What is hoped is that this interest will continue over time, without losing intensity and above all quality of demand. An important role is played by the Millennials, who play around 30% of the investors. Although, as in the previous guides, it has been found that young people are increasingly indecipherable in terms of preferences, their contribution to real estate still seems to be favorable.
So let's hope that this optimism does not stop in the first month of 2020!
In fact, the beautiful peninsula has attracted many investors who have decided to relocate, buying a property in one of the various and beautiful regions that make it up. In fact, from the north to the south and especially in large metropolises and coastal cities, a considerable number of sales contracts have already been registered in the first month of 2020.
A decidedly positive sign, if we consider the tragic situation in which the peninsula was only last year.
But now let's see in detail how this phenomenon is being structured and how much it has affected the national economy.
Let's start with the numbers. Compared to 2019, there were about 600,000 the number of contracts (for sale and purchase) registered in Italy. 90% of them belong to the residential sector, which is therefore the driving force behind Italian real estate. The slow but decisive recovery in prices, compared to 2019, does not seem to have averted potential buyers who, regardless of their origin, seem to be more inclined towards the purchase of a property in the city, compared to the province. But what has helped and stimulated buyers to approach the brick market?
Interest rates. Well yes, according to statistical surveys, it seems that this year they have touched historic lows, despite the major credit institutions having decidedly limited the provision of mortgages. Limits that in fact are transferred to the request itself already registered at the beginning of the year. About 7% less than in 2019.
As we previously mentioned, the metropolises are configured as the most quoted realities for a hypothetical transfer. The main cities that generate great interest are undoubtedly the two 'capitals'. The official one, Rome, rich in history and wonderful houses from an architectural point of view, and that of fashion and business, Milan.
The latter, decidedly less tied to a secular history like Rome, has made the most of the richest areas at work level, to build residential areas where demand would certainly not be missing!
But there are also exceptions! Indeed, Bologna, Turin and the areas of the Amalfi Coast are also in great demand, famous for its natural beauty.
Italy therefore seems to emerge not only for the potential offered by the big cities, but also for its own artistic and cultural heritage.
What is hoped is that this interest will continue over time, without losing intensity and above all quality of demand. An important role is played by the Millennials, who play around 30% of the investors. Although, as in the previous guides, it has been found that young people are increasingly indecipherable in terms of preferences, their contribution to real estate still seems to be favorable.
So let's hope that this optimism does not stop in the first month of 2020!
