Nomisma’s Osservatorio Immobiliare: laborious real estate growth continues
In an uncertain environment, the Italian real estate market continues its laborious ascent, according to the findings which emerged from Nomisma’s 3rd Osservatorio Immobiliare 2016 analysis. “In particular, ambitions for a revival are fuelled,” reads the report, “by a return in interest for real estate investment which, despite precarious forecasts and income fragility, remains a pillar for household allocation”. Nomisma’s analysts estimate an increase in transaction activity of around 12.3% for the entire year. This is driven by the residential sector, which has grown by 23.3% over the past three years, whereas for commercial properties the increase has been more modest (13%). The increase in residential sector transactions can also be explained by a credit recovery, but it has not been echoed by a turnaround in the trend for prices which continued receding, albeit with a decreasing intensity. The last price variation over a six monthly period falls within the -1.1% to -0.6% range, confirming the progressive reduction in the intensity of reductions in real estate values for the third consecutive year.