The state of health of a country can be measured by means of a very precise thermometer: that of real estate sales.
In recent years, in Italy, things have not gone very well. Property sales have almost stopped and prices have fallen. But today things seem to be going much better.
In this post we will make a brief “medical examination” to ascertain the health of the real estate market.
How is the Italian real estate market?
Signs of recovery for the tricolor brick in the first half of 2016 , a picture with some light, but also many shadows. As the just-published Observatory on the Real Estate Market 2016 explains, the darkest is called Brexit, as the unexpected result of the referendum risks triggering a new phase of uncertainty and instability.
For the moment it is still the home that gives the greatest satisfaction . After the timid + 3.6% in 2014 and + 6.5% in 2015, in the first three months of this year transactions have finally registered a substantial + 20.6% , also accompanied by the encouraging + 14.5% of the commercial sector and + 1.3% of the tertiary sector. The times for the conclusion of the negotiations are also being reduced, especially for homes with a modest decline for offices and shops, and the discount compared to the initial request, which however remains high.
Today, despite the continuing convalescence phase, the fall in prices seems to have stopped and it seems that the healing process can progress throughout 2016.
The tax benefits introduced by the stability law have certainly helped the recovery, lightening the expense account of those struggling with the purchase of a house.
A note from the OMI (Real Estate Market Observatory) disclosed by the Revenue Agency confirms in 2015 the real estate sector has recorded a growth of 9 percentage points compared to 2014. And in 2016 it seems that the figures are destined to increase.
Growth is generalized, but it is also true that it concerns above all the capitals and their neighboring municipalities, especially those in the Center North.
The resumption of real estate sales
Let’s take the 8 main Italian cities as a reference and review the different growth rates of the real estate market from 2014 to 2015:
- Rome is the city with the lowest growth, only 0.8 percentage points;
- Genoa grew by 1.1%;
- Bologna of 4.2%;
- Naples of 6.6%;
- Turin of 7.9%;
- Florence of 8.9%;
- Palermo of 13%;
- Milan is the city with a greater recovery, a good 13.4 percentage points.
The medical certificate is reassuring. Despite the differences between city and city, the data shows us that the general trend is on the rise.
Now let’s see in detail what are, today, the prices per square meter of real estate in different cities.
The most expensive regions and cities … and the cheapest ones
Are you thinking of buying a house? Well, if you can choose which city to live in, then surely you will be interested in knowing in detail how the prices per square meter vary in the regions of Italy. Why region you go … prices you find.
On the podium of the highest prices are Liguria, with an average of 2,765 euros / m², Lazio with 2,662 euros / m² and Valle d’Aosta with 2,581 euros / m².
Instead, you can buy a house much more easily in Calabria, where the average price is 973 euros / m² – the only region in Italy where the figure remains below 1,000 euros – and in Molise, with 1,112 euros / m².
But we also reason for capitals. Savona, Bolzano and Rome are the three most expensive cities. Consider that the price per square meter of a house in Savona is, on average, 3,447 euros / m², in Bolzano of 3,022 euros / m² and in Rome of 2,854 euros / m². In these cases, if you have a house to sell you are lucky, if you have one to buy … a little less.
The lowest prices meet in Biella, Isernia and Agrigento, respectively with an average of 730 euros / m², 823 euros / m² and 853 euros / m². Here buying a house is much easier.
In short, we made you turn your head with so many numbers. We were served to prove the fact that the real estate market is recovering, albeit at different rates from city to city. So, if you’re willing to buy a house, do it now, because apparently the prices are going up. If, on the other hand, you have a house to sell, then wait a little longer, always check the thermometer and don’t risk devaluing it.