Italians are increasingly looking for second homes. Covid has pushed many families (at least those who have not suffered a decline in income and assets) to forced savings that are now finding an outlet in the most typical sector: brick. The trend emerges from the quarterly report on the real estate market of Fimaa, the Italian Federation of business agents mediators adhering to Confcommercio-Imprese for Italy. In particular, residential real estate sales in Italian cities are growing in the first four months of 2021 compared to 2019: the expectation of almost entirely recovering the hole of 46 thousand fewer homes sold in 2020, the first year of the Covid-19 pandemic. The opportunity to renovate and make the property more efficient thanks to the tax benefits of the Superbonus 110% also pushed the demand for houses.
The demand rises
For 51% of Fimaa real estate operators between January and April 2021 there was an increase in transactions, which will further strengthen throughout 2021, on a par with the demand for home purchases, seen to grow by 61.1% of those interviewed. The data relating to the offer (for 40%) and prices (for 51.1%) are stable. The increase in demand – comments Fimaa – is an evident sign of a recovery phase in the sector fueled by the health emergency from Covid-19, which has forced us to live more at home both as an office and as a leisure, and by the recent measures of the Superbonus 110%, especially in central and northern Italy and in the provinces with medium population density (population between 300 and 500 thousand inhabitants).
The propensity to save and investment in the brick
For Santino Taverna, national president of Fimaa, the great propensity to save of Italians continues to reward the residential real estate market, compared to other investment opportunities, despite almost two years of Covid-19 pandemic. Six out of 10 Italians confirm that real estate investment remains the safest and most advantageous, capable of withstanding even long periods of forced lockdown.
Forecasts for the end of the year: + 8% for sales and + 1.9% for prices
The research office led by Andrea Oliva highlights the recovery of the sector of a minor entity compared to initial forecasts. However, according to the sentiment gathered, at the end of the year the market will mark a + 8% in the number of trades and prices up by 1.9% compared to the previous year. In almost the entire peninsula, sales volumes are continuing to increase, explains Oliva, as well as the demand for housing, albeit with characteristics influenced by Covid-19. Still stable prices herald a good season for the Italian residential real estate market, with buyers paying attention to government bonuses.
Hunt for second homes
According to 62% of the agents interviewed, second homes will record an increase in transactions in 2021 compared to 2019, due to the effects of the Covid-19 pandemic and smartworking in the psycho-social sphere of customers-consumers, who are increasingly oriented to live. second homes by the sea, in the mountains, or in any case outside large towns, all year round (70.5% of answers) especially in the central-southern areas of the country. The strong demand will produce, in the course of 2021, a surge in prices on average in 44% of the provinces monitored compared to the pre-covid period.
The most requested features
As regards the question, in 65% of the answers the choice of the house to buy falls close to the capital as long as it is equipped with a private garden (27.4% of cases), a terrace (25.5%) or, if the conditions family economic allowances, whether a villa (or a small villa; 14.3%). The balcony chosen in 7.5% of the answers, in 1.4% we are satisfied with the communal garden.
Smart working e Superbonus 110%
Market conditions and smartworking make people choose a room (or more) to be used as an office in almost 11% of cases and they look with interest, thus denoting an appreciation, at properties to be restored, thanks to the government measures of the 110% (12.9%). For almost 60% of the interviewees, the new 110% Superbonus measure will be able to boost the market for apartments to be renovated, fueling the entire real estate sector, especially for the regions of central and northern Italy. We believe that Superbonus can represent a strategic lever for the relaunch of the sector and its supply chain, continues Santino Taverna, president of Fimaa, and that it can make a decisive contribution to the redevelopment and enhancement of Italian real estate assets. At the same time, we are confident that the government will get to work on a plan to reorganize and reduce real estate taxation that we believe is fundamental and strategically important for the recovery of the economy and jobs in the entire country.