The global economy has taken a huge hit due to the novel Coronavirus.
Experts are predicting a decrease in the real estate prices even after the lifting of lockdown.
If you were considering to invest in Italy’s real estate and are worried how everything will pan out, it is important to understand the market behaviour before and during the spread of the pandemic, to decipher property trends.
Let’s get right to it.
Research highlights significant increase in house sales just before Covid-19.
The Italian banks were more willing to provide lower interest rates and mortgages. There was an increased availability of good deals and a drastic increase in the short term lets.
After the implementation of the strict lockdown, the Italian property market halted for a while – many pre-planned sales were cancelled.
According to financial consultants, this was directly linked with employment trends as many people lost their jobs due to coronavirus and had to face extreme financial stability. The long term uncertainty of the situation temporarily discouraged potential buyers.
However, as compared to the international markets, the Italian real estate sector proved to be more resilient and came back strong!
The real estate market remained stable through the pandemic and although the value of residential properties was reduced, there weren't any huge losses reported.
As Italy’s property market makes a staggering comeback, this is just the right time to invest.
The prices of real estate decreased by approximately 4% during the Covid-19 period. This means if you felt you were low on capital to invest in Italy’s real estate earlier – the property’s price might just be within reach now!
Displaying a variety of terrains, Italy seems like a piece of heaven.
From the valleys to the mountains, sea shores to metropolitan cities, there is a lot to explore and avail.
If you like all-thing-nature, Italy is the destination to buy your house for the best of all worlds!
If you are unsure of whether Italy is your home, still do not lose out on the opportunity of property investment that might rise in value in future (as the pandemic dies down).
Purchase land in the destination of your choosing; Florence, Sardinia, Venice, or Milan and let Italia Properties take over the litigation and process.
Once you have the house in your name, rent it out!
Low air fares during COVID-19 are thought to persist for a little while afterwards too. As tourists take benefit of these low air fares and flock to Italy - get economic return on your property as you rent it out to travellers and tourists.
The real estate market went through many ups and downs due to the coronavirus.
The demand decreased after the spread of the pandemic and the prices followed.
According to analysts, however, the market will present a good opportunity for potential buyers post Covid-19.
The prices will remain stable for some duration. By 2022 however, an increase is expected in the prices of Italian residential spaces. The markets will soon flood with offers.
2020 to 2021 is thus the optimal time to buy your house in Italy.
So, what are you waiting for?
We at Italia Properties pride ourselves in helping people find their dream house – the place they can truly call home.
Get in touch with us today!