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Despite the drop in sales, the Italian real estate has not changed in price

01.04.2010
Homesoverseas.ru editorial office
61
Recently, the land registry office in Italy (Agenzia del Territorio) has published an annual report on the state of the Italian real estate market with the analysis of data for the year 2009. Last year, there were about 1.347 million concluded transactions, that is substantially less than during the boom in the market. Over the past year, sales dropped by 11.3%, while in 2008 sales decreased by 13.7% compared with 2007. However, in the second half of last year, the first signs of stabilization in the country's property market. If the number of sales decreased by 18.6%, while the fourth quarter decline was only 4% in the first quarter of 2009, compared to the first quarter of 2008. This trend has affected all segments of the real estate market, although the office and living quarters were in great demand, than the commercial and industrial real estate. It is noteworthy that despite the decrease in the volume of real estate transactions, the price of it remained virtually unchanged. So, in the second half of 2009, property prices have fallen by only 0.7% compared with the previous year. And if we consider the data for a longer period of time, it turns out that the current price is 28.7% higher than in 2004. The most stable market proved to southern Italy, where the real estate prices in major cities remained unchanged (-0.1%) and in the municipalities of smaller scale even increased slightly (0.4%). On this Site www.italymag.co.uk
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