Your 2020 Horoscope: Forecasting the Italian Housing Market

| January 29, 2020

Italy property market 2020

Do you believe in astrology? According to the yearly horoscope, 2020 will be a year when all the zodiac signs will be able to take advantage of very favourable circumstances.

Read what the stars has in store for you and be ready for a new beginning, both in your personal life and financially, in Italy.

Money & health predictions – Saving money will be good for your health

Three positive facts in this 2020 will help you save money and realize your Italian dream more easily. This will have a positive impact on your health.

  • Once again, more or less property prices will stay the same throughout the year in contrast with the European trend, even if Nomisma – research and consulting company in Italy – has just registered a slightly rise by as little as 0.2% except for the South where they are still dropping, as well as in the suburbs and smaller or lesser known areas. On the contrary, in bigger cities – Milan above all – prices are increasing due to the fact that places attracting more tourists, students and workers usually have a higher demand.

    If we consider the period ranging from 2011 and 2018, house prices in Europe as a all increased by 11.5% while only in Italy they decreased by 17.6%. This means that there are still excellent opportunities for buying and investing that you shouldn’t miss as now you could be able to purchase a property that you couldn’t afford ten years ago.

  • Also interest rates on mortgages, which are still under 1%, are at a historic low even if rates for fixed mortgages have slightly grown since the end of 2019. But this remains a very favourable circumstance that is helping many buying a home in Italy while saving a lot compared to a few years ago.
  • In terms of property taxes Italy is still a good choice. From 2010 to 2016 in Italy property taxes rose from 0.5% to 1.3% of GDP – gross domestic product, one of the most common indicators used to track the health of a nation’s economy – but in other European countries, such as France and Great Britain they exceed 2.5 and 3% respectively. So that in UK property taxes represent over 9% of the total taxation, in France it is 6% and in Italy less than 3% which is a value in line with the OECD average.

Love life – Italian hotspots you’ll adore to live in

Where to buy in Italy? Put these places under your the radar in 2020 because this year you will have the chance to recognize your new life in the sun.

  • If you want to immerse yourself in the local life and meet new people, Le Marche should be on top of your list. It has been awarded by international media and expats in Italyfind out why – as the perfect Italian region where to buy a home and live. It has been listed among the world’s Top 10 regions to visit in 2020 according to influential travel guide Lonely Planet because here tourism is still measured in numbers and you can enjoy a genuine life. What is more property prices are quite affordable if compared to other more popular regions like Tuscany. In particular, the New York Times chose Urbino, the walled city on a hill in Le Marche, as one of the 52 Places to go in 2020 due to its Renaissance vibes.
  • Another good option is Molise, one of the most underrated regions of Italy among those looking for a second home in the Mediterranean area. It is known as ‘nowhere land’ as even many Italians haven’t been to this region in south-central Italy. But some international investors are already discovering this small yet mesmerizing stretch of land where you can find a home for a very low budget. It is perfect if you’re in search of untrammeled, traditional Italy.
    Click here and listen to what some expats there have told us.
  • Sicily is the third Italian region chosen by the New York Times, in 7th position in the ranking. It has been awarded because of it sustainable rebirth that perfectly combines with amazing panoramas and exquisite cuisine.

Are you ready to follow the stars to Italy? Start searching for your perfect Italian retreat.

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