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Engel & Völkers Licence Partner Venice > Blog > Real estate sales in Venice historic center: here's what to do in times of Covid

Real estate sales in Venice historic center: here's what to do in times of Covid

The sale of luxury properties in Venice knows no crisis and resists the effects of the pandemic


Contrary to what one might think, the Italian real estate market seems not to have been severely affected by the pandemic, unlike many other sectors. To say this are the ISTAT estimates which attest to a 3.1% increase in house prices purchased in the second quarter of 2020 compared to the previous one and + 3.4% compared to the same quarter last year.

The big cities like Milan and Rome have held up better, but the one that has proven to be less affected by the crisis is the Serenissima, with its luxury properties and its splendid historic homes.

Although with some news and changes, the sale of real estate in the historic center of Venice reserves infinite opportunities for owners who choose to rely on professionals in the sector. Here are some tips for selling a house in the time of Covid from the experts Engel & Volkers Venice.

THE VENICE REAL ESTATE MARKET IN THE TIME OF THE CORONAVIRUS


Even in a 2020 plagued by the Covid-19 epidemic, the sale of homes in our country is growing, thanks to the changed needs of Italians, but also favorable purchasing conditions, such as low-interest mortgages.

The areas that recorded the most interesting data are the North-West and North-East, with + 5.5% and +4.1 respectively; more moderate growth in the South, in the islands and in Central Italy (respectively + 2.3% + 0.9%). Surprisingly, the real estate market Venice stands out, a city that, despite having suffered from the tourism crisis, continues to exert a strong attraction for buyers from all over the world.

"2020 is a complicated year, but the Venice real estate market continues to offer excellent investment opportunities." These are the words of Giacomo Argenio, Office Manager E&V Venice. "The interest from national and international clients who make stable investments in the most sought-after Venetian locations will remain stable also in 2021. Dorsoduro and San Marco will continue to lead, but the Cannaregio and Castello districts are also attracting a large number of investors ".

REAL ESTATE SALE IN VENICE HISTORICAL CENTER: HERE'S HOW TO DO IT


Although the demand for luxury properties in Venice is far from declining, it is unthinkable to be guided by improvisation.

Even in the middle of the second wave of the Covid-19 epidemic, the choice to sell a house in Venice requires the advice of professionals who can support the owner at every stage of the negotiation. If prices per square meter in Venice have remained substantially unchanged, the modalities have changed, at least in part. Here are some tips for those who are about to sell real estate in the historic center of Venice.

The first advice is not to give up an accurate appraisal and evaluation of the property: precisely because we are talking about luxury homes, it is good to avoid the property being put up for sale at a lower price than the market price. Better, rather, to consent to an unaccompanied inspection, to comply with safety protocols, provided that you have photos and videos shared at the end of the inspection.

Also in order to comply with the anti-covid measures, it is advisable to create a virtual tour of the property, to be shown to potential buyers and preferred to visits to the apartment. It was well-curated videos and virtual tours that helped support property sales during the pandemic.

Another useful tip for selling a house in Venice at this time of health emergency is to provide  contractual clauses and addendums that serve to protect the seller in case of delays, non-fulfillment or cancellations, related to the Coronavirus crisis.

Contact the Engel & Volkers Venice agency immediately for personalized advice. We can support you in total safety even in times of crisis.

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Engel & Völkers
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