Luxury Italy
ITALIAN REAL ESTATE MARKET
The summary of the 14th report on Nomisma's real estate finance, which outlined the forecasts for the coming years in light of the new ways of living for Italian families, speaks of a difficult real estate market, but with margins of optimism. In fact, the pandemic has hit the Italian economy, but thanks to the measures in place, the home bonuses and the upcoming PNRR, there is room for optimism.
“The measures in place give us hope, - says Luca Dondi of Nomisma - even if there is still uncertainty about the methods of application of these tools which make it possible to limit the impacts of a very asymmetrical crisis. Our country already had substantial differences which were further accentuated by the pandemic. Even at the level of individual households, we have situations of savings that are completely eroded by the lack of income as opposed to even increased savings and a consequent desire to invest. Families in general believe that they are less directly affected by the pandemic than is the case in the economy in general, and consequently feed expectations that must however be considered with caution ".
Mortgage market, forecasts
The "disconnect" in the perception of the economic situation of families compared to that of the country is evident when purchasing intentions are investigated: in the next 12 months, according to the report, 3.3 million families say they intend to buy a house as form of safeguarding one's assets. Of these families, however, only 800,000 have actually started looking for real estate investment, while 80% of those who would buy a house in the next few years cannot do without a mortgage loan.
In 2020, disbursements amounted to 50 billion euros, of which subrogations were an important part, but in general the market held up even net of these, going from 2019 to 2020 to a disbursement from 42.2 billion to 41 , 5 billion euros. A minimal deviation if you think about the pandemic situation. A confidence on the part of the banks which is fueled by the decline in bad loans which presuppose a better sustainability on the part of household credit.
Real estate sales, forecasts up to 2023
In light of the above, real estate sales are also expected to be substantially stable, with figures that may reach, according to Nomisma, 629,000 in 2021, 600,000 in 2022 and 625,000 in 2023.
The corporate segment could also substantially resist, albeit with an internal recomposition of demand. While some sectors have been temporarily shelved, such as hotels, others have gained momentum with the pandemic, such as residential and logistics. The unknowns remain linked to the tertiary sector, in particular offices, management and retail.
New ways of living after covid
As for the new ways of living, the trends of the future (or of the present) are undoubtedly digital, the search for sociality, the unpredictability which, as the pandemic has taught us, must become a planning factor in the creation of new homes. , economic and financial sustainability and the integration of the residence within an urban context and a network of housing services that are now essential.
(From Idealista.it)
