The year 2022 will end with approximately 710,000 residential sales, an increase of 27% compared to 2020 and 18% compared to 2019, with market values substantially stable.
For some types of property, such as those with large indoor and outdoor spaces (gardens or livable terraces), possibly independent or with few units in condominiums, there has been a price increase, especially in the second half of the year, from 5% to 10% on average, depending on the location of the property (5% increase on average in small-medium sized urban centres while the increase was 10% on average in large cities such as Milan, Rome, Naples, Bologna, Florence and Turin).
In addition to the first home market, which confirms its growing dynamism also for this year, also in light of the change in habits imposed by the pandemic, in 2021 there was a strong growth in the number of second home sales, which rose to about 180,000 in 2021, i.e. +44% compared to 2020, when about 125,000 were recorded, and +30% compared to 2019, which closed at about 140,000. Purchases of second homes were aimed both at personal use, i.e. to spend weekends, or to live the holidays free from pandemic restrictions (masks, spacing etc. ..), perhaps combining work needs (telecommuting, smart working etc.. ) or study needs for the children, and also aimed at an investment to be used mainly for short rentals, which have been particularly in demand since the start of the pandemic, precisely as a result of the growing spread of health fears arising from the wide-ranging and repeated restrictions that have affected and continue to affect traditional accommodation facilities (hotels, farm holiday centres, b&b’s, etc…), recording a real post-emergency health revolution.
In Italy today there are approximately 35 million residential units in total: 25.5 million households are currently occupying them, whereas 5.5 million are used as second homes and 4 million are non-habitable residential units that we could define as “lights out”, as they are located in small inland towns, mountain communities and villages.
(Source: FIAIP)