Is it a good time to buy property in Italy?

With the COVID-19 pandemic lockdowns starting to ease, now is the perfect time to consider buying property in Italy. Since the pandemic, prices have fallen, properties have become increasingly available, Italy’s new ecobonus has decreased renovation costs, and teleworking has become the move of the future.

Are housing prices going up in Italy?

The average price of property purchased for housing or for investment increased by 1.2 percent in the third quarter of 2021 (ending in September) compared to the previous quarter, and by 4.2 percent percent compared to the same time last year, according to new preliminary data from Italian national statistics agency …

Will house prices drop end of 2021?

While still historically low, that is more than double the 1.6% rate recorded at the end of 2021. Based on this data, Capital Economics has forecast house prices to rise throughout 2022, before falling by 5% in 2023.

What is the average price of a property in Italy?

The highest average price for property in Italy as of August 2021 was registered in the region of Aosta Valley (2,566 euros per square meter), followed by Liguria (2,440 euros per square meter), and Trentino South-Tyrol (2,504 euros per square meter).

How much did house prices fall in Italy in 2020?

House prices also fell by 5.5% to €1,254 (US$1,499) in Palermo; by 4.7% to €1,190 (US$1,422) in Catania; and by 3.4% to €1,394 (US$1,666) in Genoa. Residential property transactions in Italy fell by 13.9% during 2020 to 374,545 units, according to the Italian Revenue Agency.

What’s driving the Italian property market in 2018?

During the first three quarters of 2018, total residential property sales in Italy rose by 2.3% from the same period last year, mainly driven by strong demand for new homes, according Centro Studi di Abitare Co. New home sales increased by 9.4% while existing home sales dropped 0.2%.

Which cities in Italy saw the biggest home sales increases in 2018?

New home sales increased by 9.4% while existing home sales dropped 0.2%. Among the metropolitan cities, Naples recorded the largest sales increase of 15.2% during 2018, according to Idealista.it, followed by Milan with sales rising by 14.5%, Rome (13%), Turin (11.3%), Bologna (9.7%).