Rome, Italy: Stable prices in the high-end market

 According to the “Market Report for Residential Property in Rome  first half year 2021” published by Engel & Völkers, the premium real estate market in Italy’s capital has  remained stable at a high level. “During the first months of 2021, customer demand for purchasing a  property with larger spaces with rooms that can be used for office or studying purposes continued,”  says Helio Cordeiro Teixeira, Managing Director of the Engel & Völkers Market Center in Rome. “The  value of purchasing real estate today represents an essential asset and a safe haven for couples and  families, taking on a vital and multi-functional role, even more since the pandemic,” he continues.  

Hamburg - (Bildquelle: Engel & Völkers Market Center Rom)

Trend in demand for properties in close proximity to green areas  

Italy’s capital has seen a stable balance between offer and interest during the first six months of 2021.  The demand mainly comes from around 90 percent of national buyers in search of a first home in  districts such as Campo Marzio, Parione and Trevi in the historic center. Top prices per square meter  for renovated apartments reach peaks of 10,000 euros, whereas apartments in need of renovation  start from 5,000 euros per square meter. In the same area, about a ten-minute walk from the Trevi  Fountain, lies the most expensive accommodation currently in the portfolio of Engel & Völkers Rome: 

Palazzo Mocari, located in Via di Monserrato, near the well-known Piazza Navona, available for 11  million euros. The green districts of Balduina, Parioli and Salario in the north also register a very high  interest for properties with larger indoor spaces in proximity to parks, close to the banks of the Tiber  River and with easy access to the city. Prices for new or refurbished apartments reach a maximum  square meter price of 7,100 euros, whilst flats that need refurbishment start off at 6,000 euros per  square meter. In these districts asking prices for houses go up to 3 million euros. Demand from  international buyers has also increased since the first lockdown in 2020. Engel & Völkers registers  interest from France and Germany in buying real estate in the historic center, both for investment  purposes and as a second home. 

Outlook: Stable trend for the next months 

According to Engel & Völkers in the upcoming months, there will be a growth in sales and rents in the  historic center, in Prati-Vaticano and in the northern area, while in the eastern and southern areas the  number of transactions should remain substantially stable compared to the first half of 2021. “The  importance of owning a prestigious property in the central areas and the possibility of buying and/or 

renting better quality properties in semi-central and well-connected areas, are aspects that will  contribute to future choices for a property purchase, in line with the changes that have emerged after  the coronavirus pandemic,” concludes Helio Cordeiro Teixeira.

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