Italy - Black year for the housing market, house prices collapse: Rome -15%

Italy - Black year for the housing market

Fiaip: in contrast Taranto. For the first half of 2013 the market still

Rome, February 15 (TMNews) - Black Year, 2012, for the housing market: the sales fell by 17.2% and housing prices have fallen by 11, 9%. To provide the data is Fiaip (Italian Federation of Professional Real Estate Agents) which released the report on the progress of urban real estate market scenarios for 2012 and 2013.The 2012 "closes with a market stagnation in a context in which the indicators marked a decline in real estate prices in the residential and commercial real estate market," said the Federation. For the trades "there is an average trend of falling prices of '11.98% for houses, while falls the number of sales that amounted to -17.22% in 2012." Sharp decline, then the price for leases for housing and commercial leases -5.60% -12.5% ​​compared to 2011.

House prices fell throughout Italy in 2012 and even in big cities, with record declines in Perugia (-17.1%) but also in Rome (-15%) and Milan (-14.2%). From the 2012 report Fiaip there was a strong general decrease in all cities, "with the exception of Taranto who photographs a reality in contrast." The remaining reductions ranging between -5.75% -14.36% of Avellino and Palermo, passing between -8% of Florence - 8.43 of Venice, -11.11% of Salerno - 12% Genoa - 12.83 Udine, -12.86 of Siena - 13% of Naples - Bologna 13.74 - 13.75 Torino - 14% Cagliari.

"Although the market has discounted the beginning of the crisis to date, more than 40% decrease in the volume of trade and a decline in values ​​that on average amounted to about 25%, the brick - said the Fiaip - guaranteed Italy in a "holding" higher than other forms of investment, through the support of a "demand-established" that contained further declines preventing the occurrence of the explosion of so called "bubble".

Last year, property transactions fell to share 470mila. For the first half of 2013 the market is expected to remain firm: Potential buyers are discouraged and wait "at the" possible new sull'Imu of the next government and the arrival of better times. A benefit is, therefore, the rental market. For Fiaip "only the political and economic stability will enable the start of a slow recovery in the second half of 2013."