Market Report - I Semester 2017
Thursday, October 5: Presented the new E&V market report signed in collaboration with Nomisma. The Market Report provides a general overview of the economic performance in Italy and the real estate market with a focus on the cities of Milan and Rome.
MARKET REPORT MILAN - ROME 2017
In Italy, the recession is finally over and there are good reasons to be relatively optimistic about the next two years. While economic recovery continues at a more moderate speed than the European context, GDP growth forecasts are 1% for 2017 and 1.2% for 2018.
The Italian real estate market is subject to opposing efforts. On the one hand, the growing demand for households who, having run out of crisis, have come back to show strong willingness to buy and, on the other hand, over-supply of property accumulated over the years.Milan real estate market recorded an increase in sales of 13.8% in the first quarter of 2017. For new buildings, there are transactions between 10 thousand and 11 thousand euros per square meter, with isolated peaks up to 15 thousand euros per square meter.
Roberto Magaglio, Engel & Völkers Milan's Licensing Partner, said that "Market recovery is triggered by new credit instruments such as residential real estate leasing and more awareness by sellers of current market values,", furthermore, " buyers, realized that after ten years of downward prices and interest rates at the lowest rates, this is the right time to invest. Much demand is for new buildings, such as those handled by us in Ciro Menotti: modern cuts, demotics, customized kitchen and cabinets included in the offer are particularly attractive to customers. "
To find out more about the Market Report and to have a copy of it, send us an email to MilanoCentroStorico@engelvoelkers.com