Monday, November 4, 2024
HomeHouse Prices: Ranking of the Most Expensive Cities

House Prices: Ranking of the Most Expensive Cities

Il The real estate market Italians are showing some signs of recovery after the 2023 crisis even if the figures for the first half of 2024 are still negative, the figures have declined on an annual basis, the second quarter for the first time in 12 months. Improvements have been recorded. The recovery will be mainly driven by interest rate cuts, a trend that should continue until 2025, according to the latest reports from the European Central Bank.

Although the real estate market in our country has faced a demand crisis in the last year, the house prices The city He never stopped growing. This trend continued through the first six months of 2024, with several major urban centers recording growth of more than one percentage point year-on-year.

Real estate market situation in Italy

Latest report from Technocasa The Italian real estate market still reports negative data regarding the first half of 2024. Sales were around 341,000. A decrease of 2.8 percent nationally Compared to 2023, the decline is more pronounced in capital municipalities (-3.8%) than in non-capital municipalities (-2.3%). However, the second quarter of 2024 showed the first signs of market recovery, with +1.2% of transactions.

“The first half of 2024 gives us back.The real estate market is back in motion.after the slowdown recorded in 2023, the year in which transactions took a significant hit. The rate cut by the ECB has forced potential buyers to approach the market with renewed confidence” declared Fabiana Megliola, Head of Tecnocasa Group Research Office.

“The latter are more decisive and, above all, increasingly sensitive to issues like Energy saving. The market suffers from limited supply, often of low quality, due to construction developments not keeping up with demand. In this first part of 2024, interest in real estate investment has been confirmed but, in some cities, purchases have decreased, especially for short-term rentals” concluded Magliola.

Ranking of cities where house prices have risen the most

Although the Italian real estate market has gone through a phase of crisis, Housing prices in cities They never stopped growing. A trend mainly due to the constant influx of people looking for a home, the large presence of tourist rental properties in the centers and the lack of real estate development projects in most large Italian municipalities.

With the national average approaching, an increase is also confirmed in 2024. +0.9% over the same period last year. However, there are strong spatial variations.

  1. Firenze +3,2%
  2. Milano +1,3%
  3. Napoli +1,3%
  4. Torino +0,9%
  5. Bologna +0,7%
  6. turn +0,6%
  7. Roma +0,6%
  8. Verona +0,3%
  9. Genoa +0,2%
  10. Palermo -0,4%

The most sought-after type of apartment or house remains. Three bedroom apartment, Considered primarily for families and accounting for around 50 percent of demand for homes in major Italian cities, two-room and studio apartments share the rest of the demand. The only exception is Milan, where demand for two-room apartments is significant. Sales times are around 105 days, compared to 2023, with Bologna and Milan below average at 68 and 81 days respectively.

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