Table of Contents:
The current context of the real estate market
The Italian real estate sector seems to have overcome the most critical phases, heading towards a period of greater dynamism. According to the 3rd Nomisma Observatory on the 2024 real estate market, sales are showing signs of recovery, although some structural problems remain. The analysis involved 13 of the main Italian cities, including Milan, Rome and Turin, highlighting the importance of household income stability and access to credit for a relaunch of the market
.
Key factors for recovery
Two fundamental elements emerge from the study: the stability of household incomes and an easing of credit restrictions. The possibility of an increase in demand depends heavily on these factors. Despite the uncertainties related to the labor market, the moderate growth in purchase intentions and transactions suggests a potentially expansive scenario. However, house prices showed some stagnation, closing the year at the levels of the first half of 2024
.
Price and rental trends
Despite the stability of average prices, some cities recorded significant declines, such as Milan, which saw a decline of 1.5%. However, the growing interest on the part of certain demand segments may indicate a possible reversal of the trend. In addition, the rental market continues to grow, with increases of more than 3% per year in many areas, pushing an increasing number of families to rent as the only viable alternative. The percentage of families choosing to rent increased from 56% in 2023 to 59.3%
in 2024.
Absorption times in the residential market
Over the last ten years, the average absorption times in the residential market have shown a downward trend. Currently, to conclude a real estate sale negotiation, it takes an average of 5 months, with significant variations between cities. Genoa has the longest running times, while Milan stands out for its speed. As far as rentals are concerned, the time to rent a home has been reduced by half, stabilizing below 2 months on average
.
Future prospects and innovation
35% of respondents expect an increase in the value of homes in the suburbs, identifying these areas as future poles of innovation and sustainability. This could represent an opportunity for the real estate market, encouraging investments and developments in currently undervalued areas. The challenge remains to ensure accessibility to credit and economic stability to promote a lasting recovery of
the sector.
