Corporate Works

Lockdown in Italy, hunt for vacation homes

Pisa, Italy
Pisa, Italy

Affordable prices drive sales

Especially couples between 45 and 54 are looking for a property (preferably independent and with three bedrooms) in tourist resorts. Telework is expected to become a permanent dimension once the pandemic is over.

ROME – Sales analysis for the first nine months of 2020 seems to confirm the good trend for the vacation home. Compared to the same period of 2019, there was an increase in the percentage of purchases of this type, which rose from 5.9% to 6.5%.

A result in line with what the agencies of the Tecnocasa group saw, which immediately after the lockdown recorded a greater willingness to buy a house in tourist resorts. And the stability of prices, in the first part of 2020, would seem to confirm this trend.

Immediately after the first lockdown, many flocked to tourist resorts in the beautiful country which, although being orphaned by international tourists, was able to benefit from increased local tourism. Great prices, and the expectation of many that teleworking will become a stable dimension in the future when the pandemic is over, are contributing to this trend.

Telecommuting, two out of three Italians plan to work from their vacation home

Political decisions and economic forecasts therefore only give impetus to this trend. The decree of the President of the Council of Ministers of October 12 indicates that, to stem the spread of Covid, 50% of employees work remotely in the public administration. And European Central Bank President Christine Lagarde recently said that of the 50% of workers who switch to smart work thanks to Covid, only 10% have to return to the office.

The results of an Airbnb survey

The main reasons are the desire to be closer to the family, the need for more space or a change of environment to be more creative. And there are also those who, following the pandemic, plan to settle permanently in the countryside or by the sea.

The three-room apartment is confirmed as the best-selling type, collecting 35.6% of purchases over the period considered. Independent solutions are growing, concentrating 28.4% of transactions, up from the same period a year ago when they stopped at 26%. This data can also be read in light of what happened during the lockdown, during which time independent solutions were particularly sought after and appreciated.

Who is the target who buys the holiday home? Especially couples, up slightly compared to 2019 (from 50.7% to 51.2%) and families with children (34.2%) who remained stable. If we analyze the age of buyers, again the range between 45 and 54 is confirmed as the one who is most interested in buying a vacation home. It collects 31% of purchases made during the first nine months of the year. After the 35-44 age range with 22.1%, a slight increase from a year ago.