Brick becomes a refuge, buying a house in Tuscany and Liguria
The real estate market in the time of the coronavirus
As in all areas of the economy, the real estate market is also experiencing a very complicated moment. Coronavirus has unfortunately entered our lives with arrogance.
But are you sure that the effect of this virus will be negative on house prices in Italy?
Some rating agencies are not exactly sure that the virus is a serious problem for the value of real estate, indeed, brick is becoming a safe haven asset.
Ever since we replaced paper with brick, the consequences in a crisis like this are visible to everyone. Our savings and investments have thinned by 30-40%. Piazza Affari, for weeks, has lost most of its capitalization in a context of very high volatility. Oil is also at an all-time low, losing 80% of its value. But the houses are still there, and their value after the crisis will not have suffered great damage.
The brick creates wealth in the area, feeds the local economy, simple people, workers. If we want to relaunch the economy, we must start again from the construction industry, from the construction of new homes or from the sale of properties already on the market.
So, there are a number of elements that could arouse great interest in the Italian real estate market, although the GDP of our country will certainly be reworked by the coronavirus and by the various problems that were already present and created problems that were quite heavy for the economic recovery in our country.
But what is happening in Italy, in fact, is happening throughout the European Union and throughout the industrialized world and the economic countermeasures, supported by the ECB, such as incentives for businesses and families of various types, should introduce liquidity on the market and therefore keep mortgage rates very low, all of which could lead to an interesting improvement for the real estate market.
However, what cannot be avoided is the slowdown in the slight increase in property prices, which we perceived from 2019 onwards, however this too, a positive aspect for the real estate sector.
The rating agencies have maintained their economic forecasts but it is necessary to keep in mind that an extremely positive situation is about to materialize, going to meet a great economic accessibility and loans with low costs will create a great increase in the value of the properties in the regions that will succeed to grasp this important trend.
The trends of the 2020 real estate market in Italy
So, what will be the Italian real estate market trends for 2020?
We believe the trend will be very interesting, but it is important to first understand what your goals are. It is therefore necessary to be informed on various topics such as the trend of the value of the properties, mortgages, interest rates and conditions of the building. This represents an essential point in order not to risk buying an economically inexpensive property due to the very high costs for the renovation, although it is necessary to remember that there are many state bonuses for the renovation of one's home.
The increase in the real estate market in Italy has been important, but not all geographic areas have benefited from this positive trend, but also in this case a different discussion must be made for prestigious properties in highly tourist areas.
Not surprisingly, Broker Immobiliare Exclusive Real Estate, offers for sale prestigious properties, in the most sought after locations in Tuscany and Liguria, Forte dei Marmi, Pietrasanta, Viareggio, Lerici, Portovenere, in addition to the cities of art such as Lucca and Pisa and their renowned hills.
A real estate market that has always received great interest from Italian and international customers and that Broker Immobiliare Exclusive Real Estate, thanks to staff with consolidated experience, is able to accompany the future Italian or foreign owner, literally hand in hand, from the first meeting until the notarial deed, supported by external professionals in technical, fiscal and legal matters.