However, there are some signs of improvement. Rents are stable but the number of contracts is increasing.
MILAN - The recovery, perhaps, it really started and the real estate market can return to growth, even if, at the moment, in a shy way. The data for 2010 Fiaip (Italian Federation of Professional Estate Agents) show that there are numbers that certify a slight rise in demand in the second half-year, even if there’s a general stabilization of prices.
For real estate transactions turns out to be a 4.5% decline in house prices, a decrease of 2% of transactions. Regarding loans, there was a contraction in demand, but a higher percentage of those who used them (52% of Italians and even 75% of immigrants). The numbers of 2010 also saw some positive data especially in the second semester, confirming that the property market, having avoided heavy debacle in the most difficult economically time, then begins to have more breath and vitality.
House prices fell down in all cities except Venice (+2.22%) and Siena (0.2%). The largest decrease took place in Palermo with even a drop of 11%, but also Rome (-4%) and Milan (-6.2%) are not joking. The residential units more sold are for a 38% the three-roomed flat and for a 23% two-roomed flat. Only the 6% of customers have requested studio apartment. The location is mainly in semi-central areas and state of preservation that prevails is of accommodation in good condition (39%) followed by new constructions (22%). In the last year there was also a significant increase of interest about buildings renovated or to be renovated. The trend is of a conscious and informed customer, aware of energy standards and with clear ideas about his housing needs. The forecasts for 2011 speak about improving trends of trading for residential use, with a focus on central and semi-urban areas. The rental market indicates a substantial stability with a growing demand and a slight decrease of offers. The prices compared to 2009 are subjected to a contained decline (-1.73%) for the housing sector while for the commercial the decrease is higher, around 4 / 4, 8%. Leases generally remained in constant increase (+5.51%) for housing, while for the stores there’s a decrease(-1.6%).
The most popular type for rent, especially for young couples and singles, is the two-roomed flat (39%), as well as three-roomed (34%), located in central (32%) or semi-central areas (33%). The expectations for 2011 speak of a grow of rents for residential use (+10% in the central areas and +4% for semi-central and suburban). The second houses have suffered a physiological slow decline. Increase of 10% the buildings offered for sale but transactions drop of 14% and also the price per square meter significantly decreases, that on the average has suffered a decline of 5%. Fiaip’s foreseeing for 2011 imagine a set with a further drop in prices of 2-3% per square meter. Data also reveal an increasing tendency to buy second houses for investment purposes, especially by families with children, with a high demand for homes not larger than sixty square meters, the type that involved almost half of sales in the 2010.
La Repubblica 07-03-2011 |
