Haven’t you found your dream home for sale in Italy yet? Don’t panic, you are still in time to take advantage of the great opportunities that the Italian real estate market has to offer.
Let’s look at what to expect this year.
1. Property prices forecast to stabilize in Italy
Average Europe property prices increased by around 4.3%.
According to Eurostat − the statistical office of the European Union − the recovery in house prices is practically a widespread phenomenon in all EU countries. Slovenia (+ 15.01%), Holland (+ 10.2%) and Ireland (+ 9.1%) have the most significant increase in the third trimester of 2018 on annual basis; compared to the previous trimester the greater growth were registered in Holland (+3.3%), Malta (+3.1%) and Croatia (2.8%).
What about Italy?
In the last seven years many European countries are not only out of the real estate crisis, but they have registered also a great increase of house prices. In Italy the sales have raised, however the prices are still blocked.
The market is different, we find a recovery in many big cities, while the rest of the peninsula still struggles.
Prices have decreased of about 30-35% compared to the beginning of 2008, in a slow decline, while in many European countries, such as Spain or Ireland, a violent collapse in prices was followed by a substantial recovery.
The latest update of ISTAT − the national institute for statistics − data for the third trimester of 2018 registered a decrease in the Italian house price index by 0.8% compared to the previous trimester and to the same period of 2017.
But there are promising signals for a slow recovery in the imminent future: Milan have already registered a trend reversal, being the only one with a positive price variation. Other main cities will follow this trend in 2019.
Very convenient for those who want to buy a home in Italy, isn’t it? As a matter of fact many people are taking advantage of this very favourable moment. The demand for houses increases, both by those looking for a house to move in and by those searching for an investment, whether Italian or international buyers.
2. Mortgage rates still very convenient
Achieving the dream of buying your ideal property in Italy has become even easier for the vast majority of those who need a mortgage thanks to historically low interest rates. They will probably stay at the same level for a couple of years.
This will definitely help those who need a loan.
3. The hottest real estate markets to watch in 2019 in Italy
A question springs to mind then, where is it better investing in Italy in 2019?If you’re looking not just for a new home but a new town, we’ve got some ideas for you.
- Le Marche – How about heading towards the Centre of the ‘boot-shaped’ country? The region has been included by the Forbes in the list of the best places to retire abroad in 2019. It was once again named among the best places for a good retirement after a lifetime of work.
Known as “Italy in one region”, this wonderful area of the country has something for every taste: high mountains, long sandy beaches and charming villages. - Golfo Paradiso – Liguria is not only Cinque Terre, you just need to continue along the coast to find Golfo Paradiso. Less known, but equally wonderful, this area of Liguria can offer a peaceful and still unspoilt corner to enjoy. Hidden gems like Recco and Camogli are waiting to be discovered and local cuisine will enchant you with trofie al pesto and focaccia sottile al formaggio.
- Matera – as European Capital of Culture in 2019, it is the ideal place to find your perfect retreat if you haven’t already found it. If so it is definitely a place to visit this year. Its breathtaking scenery will leave you speechless. Full of history and now also rich in events celebrating the award.
Where are you heading for?
