The influence of quarantine on the cost of housing in Italy

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Pandemic coronavirus have not yet had a significant impact on the cost of housing in Italy, but the national real estate market has definitely undergone some changes over the past few months. About it reports The Local, citing data disclosed by analysts.

According to the experts online database of real estate Idealista, in may 2020, the housing prices in Italy increased by 0.3 percent compared to the April figure. For the last three months the growth amounted to 0.6 percent. Price dynamics varies greatly depending on the region, but the General picture is that in 63 of the 110 largest cities in Italy, the cost of housing has increased in six remains unchanged and the rest declined. In the economic capital of the country — Milan — the property in may fell by 0.8 percent.

Some market participants noted that potential buyers of housing in 2020, the shift from urban estate in the country — largely due to the coronavirus. But many believe that it is too early to assess the impact of quarantine on the real estate market.

“COVID-19 definitely changed market conditions, although property prices are still stable. The demand is there, but you need to adapt to existing circumstances, to achieve the same rate of sales,” said The Local head of research at Idealista Vincenzo de Tommaso.

Italian realtors, meanwhile, have concluded that many of their customers currently prefer virtual views of the real object. In addition, people began to search for more spacious accommodation with individual Seating areas outdoors.

Earlier in may, it was reported that the pandemic coronavirus did not prevent foreigners to look for housing to buy in Italy. In General, due COVID-19 internal and external demand for real estate in the country decreased, but the share of nonresidents in the market has increased.

Video, photo All from Russia.

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