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 5%.
According to Eurostat − the statistical office of the European Union − the recovery in house prices is practically a widespread phenomenon in all EU countries. France (+ 3.5%), Germany (+ 3.7%), Holland (+ 7.3%) and Spain (+ 5.6%) earned more in the second trimester of 2017; Ireland recorded a growth of 10.6% and in the Czech Republic the cost of houses grew by 14% compared to the period of economic crisis.
What about Italy?
Prices are stable at the time of full crisis. It is the only market where, in the middle of last year, real estate prices were still going down, while in the rest of Europe continued to register an increase.
The latest update of ISTAT − the national institute for statistics − data for the third trimester of 2017 registered a decrease in the Italian house price index by 0.5% compared to the previous trimester, and by 0.8% compared to the same period of 2016.
In the following months property prices should stabilize or be moderately positive in some majour cities.
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 is increasing, both by those looking for a house to move in and by those searching for an investment, whether Italian or international buyers. And how could it be otherwise if, from 2007 to now, properties all around the country have lost a 23% of their value?
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 market to watch in 2017 in Italy
A question springs to mind then, where is it better investing in Italy in 2018? How about heading towards the Centre of the ‘boot-shaped’ country?
Abruzzo could be the next rising star, included by the Forbes in the list of the 10 best places in the world to live this year.
If you are looking for your dream home in a breathtaking scenery with uncrowded golden beaches where to enjoy the sun in complete relaxation it might be what you need.
Abruzzo is still rooted in its traditions and you can meet nature and history at every corner. Mass tourism doesn’t exist yet so you can genuinely experience it to the fullest.
But overseas home buyers already know it as confirmed by our annual report. Their interest in investing in Abruzzo is slowly but relentlessly increasing so that it is the 7th most requested region of Italy. As a matter of fact it is one of the cheapest and undiscovered Italian property markets.
Where are you heading for?