Italy: the real estate market aims for sustainability

The Italian real estate market is increasingly focusing on the sustainability of buildings. Indeed, property sales with high energy standards are increasing, a tangible sign of the interest of our compatriots for houses with an increasingly ecological taste. A very positive 2019 According to what was recently highlighted by an analysis carried out by the ENEA (National Bureau of Alternative Energy) in collaboration with the Institute for Competitiveness and the Italian Federation of Professional Real Estate Agents, the Italian prospects seem very encouraging, with a trend, more marked in 2019 , to consider the energy efficiency of buildings, both during the renovation and during the purchase phase. Indeed, the survey shows a very positive trend both for the new housing segment and for the renovated segment: in the first case, almost 80% of transactions concern goods of high energy class (A or B), while in the second the percentage goes from 22% in 2018 to 36% in 2019. Last year, we also witnessed the consolidation of the dynamic which sees a reduction in the purchase of low energy class properties (G), with a very low percentage especially in the case of villas and detached houses. Despite this, according to experts, the national real estate market still sees a marked presence of these buildings (class D – G). Excellent results for the prestige buildings segment, which sees a percentage jump of 10 points compared to 2018 on the front of the most efficient energy classes (A1-4 and B). The buildings located in the central areas of the main Italian capitals also recorded very good performances with a + 16%. Will Covid-19 have an impact on the sector? What will be the short and medium term consequences of the health emergency we are experiencing, is still difficult to establish with certainty. In the opinion of experts, this long lockdown that we have experienced and the advent of phase 2 will lead us all to reconsider even more the theme of sustainability, with a new way of living the house and its environment. The scenario that awaits us in the near future is an increase in the demand for comfortable housing, with good energy performance, bright and low consumption. But, as Alessandro Federici of the ENEA, responsible for monitoring energy efficiency policies, points out, in the future, it will be necessary “to direct demand more and more towards deep renovation of condominium buildings. Many houses belong to this category in the semi-peripheral, peripheral and extreme periphery areas, which still have particularly poor energy performance. “

Real estate investing in Italy, what’s changing

STEFANO Boeri has a new friend and he is a blackbird who serenely pecks on his balcony (the architect does not live in his vertical forest, but in a building in the center of Milan). In empty cities, animals lose their shyness, yesterday in Pavia there were two deers strolling in front of shop windows. Now all of this has to do with our current life as a prisoner, as we watch and dream of an exterior that is currently forbidden to us, and we are also worried about what is going to happen. Those who live in the city would like to stay in the countryside, never like now do they want a garden, a vegetable patch, an exterior. “Never before have I seen so many green balconies in Milan, and loggias, terraces, because the balcony is a living space. Everyone has understood that green is important. But in England, there is already a big push towards the abandonment of more densely populated areas. This will also happen in Italy, those who have a second home will settle there – we have now understood the potential of working at a distance – or will spend longer periods there. But this process will have to be governed. A campaign would therefore be necessary to facilitate dispersal, but also a withdrawal from the urban area, to make room for other living species. Then, Italy is full of abandoned villages, whch should be saved. We have a unique opportunity to do so. ” Are we all going to move to the countryside? “I am thinking of a major national project: there are 5,800 centers with less than 5,000 inhabitants, and 2,300 are in a state of neglect. The 14 metropolitan areas have adopted these centers, with tax advantages and tax incentives … And there are already wonderful places where they give you accommodation in a historic center for one euro, in Liguria and along the crest of the Apennines ”. But you are not upset by the outside that awaits us, and what will it look like? “I think we should not be depressed, and that this experience forces us and allows us to rethink many things. Of course, we will have to prevent digital surveillance and barriers from prevailing over our lives, but to get out of this tragedy without understanding the causes, it would be a real waste. ” So let’s talk about the causes. “To begin with, the data on fine particles, which are scary. The pulmonary fragility of those living in areas with high particle density is easily assimilated to the infection. In cities, we need a project that starts from the sharp reduction in cars, and therefore the road section, and a decisive transition to the electric car, with incentives, scrapping. ” All this to create health, but also space. “Of course, because we will have to take everything outside. The stores must have outside, the closed space is dangerous in the event of a pandemic. But even there, the tax should be abolished for those who occupy an outdoor space. Air is necessary , the virus in the air does not survive, so more space for us, less for cars. ” The spaces are all to be rethought. “Yes, but we are facilitated compared to other countries, France, England, Germany, we have a history of outdoor culture.” However, political demonstrations, marches will be impossible … “But in Tel Aviv, there was just a demonstration against Netanyahu, with many participants well spaced. In short, we must return to the study of proxemics, distances, spaces and bodies and the relationship that exists, these days I’m just looking at old books from the 70s. Spaces are a huge resource, you have to be able to create ways, and I’m thinking of lights, colors, tapes, to be able to use the open spaces in which you move, each with its own mask, for the moment. We use the places, we make a campaign “come to the Italian places to do culture”, we have so many festivals, let’s focus all of them in September “. Let’s take a practical example. You are president of the Triennale, how do you organize the post coronavirus? “As soon as possible, and I hope it will be in June, we will do everything in the garden, large and fenced, so that we can easily control its access. We had planned an exhibition on Enzo Mari, we will have to distribute it on all the spaces we have so as not to create congestion. We are going to build a stage, with 250 well-spaced tables, cultural production will have to adapt to a different spatiality. I remember a spectacle of the Festival of the fog, made by the Triennale, it was called “Strasse”, you saw it while making the tour of the city by car “. And the skyscrapers? Will they still be logical? “We have to rethink them. The elevator, which is a fundamental part of the life of a tower, must have continuous ventilation, and the ultraviolet lamps offered by Fuksas are a great idea. The common areas should be wider, and more. So more landings, more halls and elevators. In Korea, they are also studying an application that allows you to always take the elevator yourself. The roof will be the fifth wall, many will pass through it, and I am thinking of the use of drones. ” Many people think that cities are finished because they are congested, ultra-populated and therefore dangerous. “It will be important to synchronize the timetables of public administrations and schools, to avoid the significant flows of commuters. It will be crucial to rethink the exterior, to remove space for cars, focusing on green. So it was in New York, in the middle of the 19th century: the population had quadrupled, there was no more space, and the density was not working. The landscape architect and town planner Olmsted thus created Central Park, a gigantic park born

Italy: Investing in real estate? Yes, but prioritizing quality

The Coronavirus forced us on the one hand to rethink the organization of the home in order to meet the needs of the whole family (space for smart working, for physical activity, for lessons and children’s tasks) on the other a reflect on the future: is real estate an asset you should still invest in? According to an article by Il Sole 24 Ore, the answer is yes, as long as you focus on “quality” homes. Here are the scenarios that lie ahead. Big enough houses but in the city According to the data of the latest Nomisma Observatory, the economic crisis generated by the health emergency could lead to a reduction in property sales that goes from 40 thousand to 110 thousand less sales, with a consequent drop in prices between 1 and 3% approximately in the 2020-2021 period. But the value will remain unchanged for homes that meet certain requirements, first of all that of square footage because, as explained by Mario Breglia, president of Scenari Immobiliari, in this lockdown phase it became clear to many that a very small home is not comfortable. This will translate into a change in demand which however will not lead to favoring the province over the city: urban areas will remain more in demand, although we will probably see a revaluation of peripheral areas compared to central ones. Which elements to focus on for a good investment According to experts, in the short term, the segment of excessively small or not well-built houses will suffer, in which, for example, not enough light enters or the systems do not withstand greater consumption. Among the defects that could lower the value of a property there are the non-soundproof walls and the lack of an outdoor space, whether it is a balcony or a garden, including a condominium garden: and in this context, the internal courtyard of the railing houses will be particularly appreciated, in line with the trend that was prevailing even before the Covid-19 emergency.

Italian city centers increasingly coveted by real estate investors

Italians, but also foreigners, tend to buy apartments in cities, preferring them to vacation second homes. Italians, but also foreigners, tend to buy fewer apartments in tourist areas for themselves or as an investment, preferring to buy apartments in cities. With yields that sometimes even reach 7% per year, property investments attract more and more Italians. As a Tecnocasa studio points out, our compatriots prefer to buy a two-room apartment for themselves in town instead of a second home by the sea or in the mountains. Here are the places and neighborhoods to focus on once the necessary reflections have been made, for example related to operating costs and increased supply. North In Milan, almost one in three purchases is intended for investment, so much so that the two-room apartments in the center have reached very high amounts, even exceeding € 250,000; however, these figures are offset by returns of up to 6.8%. The most popular areas for short-term rentals are Navigli, Porta Genova and Porta Romana, while for longer term rentals, you move beyond the line 90 device. In Bologna, demand is increasing in central areas, where prices have increased by 2%, even reaching 5,000 euros per square meter. In particular, those who wish to start a B&B business choose apartments of one or two rooms while entrepreneurs or parents of students prefer the larger sizes to divide or sublet. In addition to the quadrilateral, the Murri-Giardini Margherita and via Andrea Costa areas are sought after. Even in Turin, the tendency is to focus on short rents by buying small apartments, but there are many people who decide to leave the hill areas to move to the center, where they buy historic buildings in renovate. The Crimea-Gran Madre and Cit Turin districts are also very popular. In the heart of Rome In the heart of Rome, properties are bought to be used as holiday homes (one- and two-room apartments) or B & Bs (from three-room apartments), although demand per square meter is also reaching 9 thousand euros. Investors point in particular the area between Porta Cavalleggeri and the Vatican walls, where prices are around 4,500 euros per square meter, Testaccio and Piramide. South In Palermo, the historic center, which has been partially refurbished and pedestrianized, is in great demand, although it is possible to spend up to 4,000 euros per square meter for prestigious houses compared to 1,300 in peripheral areas. However, the yield also reaches 5% per year. In Naples, where small apartments are particularly difficult to find, investments in holiday homes are concentrated around Piazza del Gesù, the cloister of Santa Chiara and in the Via Toledo district. Prices range from € 1,500 / m2 in the suburbs to € 7,000 / m2 in central districts, provided they are well connected: at Caravage-Manzoni, for example, prices are around € 3,000 per square meter precisely because it’s from a less-served area.

Italy: houses to renovate, quite a smart investment

In Italy, approximately one property in five is to be renovated. There is therefore a very wide range of houses and apartments to renovate, at very attractive prices. Italy: is buying a house to renovate a good investment? To date, the answer is yes, at least according to an analysis by Corriere della Sera, from Milan, one of the most prestigious Italian daily newspapers. Let’s see together why buying a property to renovate can be an attractive option. Tax bonuses and minimum rates The tax benefits on extraordinary maintenance work on residential buildings have also been extended for 2020: this means that for expenses of up to 96 thousand euros, you are entitled to a deduction of 50% from Irpef , income tax, spread over ten years. This percentage can go up to 65% for energy requalification works. Added to this is the particularly positive situation on the mortgage front: interest rates at historically low levels provide access to very favorable financing conditions. How much do you save? According to the Nomisma Observatory, the savings would be considerable even taking into account the amount to be allocated to the works. In Milan, for example, almost 80,000 euros would be spent to buy an 80 square meter apartment to renovate compared to a house ready to be lived in. In principle, the Irpef advantage significantly affects the choice of buyers when the price difference between the house to be renovated and that already habitable is at least 30 thousand euros. Facade bonus Without forgetting another factor of interest for potential buyers: the 2020 finance law increased the IRPEF deduction from 50% to 90% for painting and renovating facades. An initiative that stems from the desire to encourage the redevelopment of the residential heritage of many Italian cities.

Buying real estate to renovate in Italy, a good deal!

If we look at real estate ads in Italy, we see that roughly 10 to 15% of ads refer to real estate to renovate, with significant variations from one city to another. In some regions, such as Liguria, most of the buildings are over 60 years old. Nevertheless, the foundations, the walls, everything that is structural work, are quite solid. The causes of old age of real estate in Italy Italy is very densely populated, especially considering that the entire center of the peninsula is occupied, from north to south, by the Apennine mountain range. Building plots are therefore expensive, and there is not much availability. What is more, after the great post-war demographic expansion, Italy experienced the highest birth rate in Europe, which led to its population being the oldest in the world after that of Japan. In Italy, around 22% of the population is over 65 years of age. However, it is mainly young couples who build houses. All of this makes me expand the offer of real estate to renovate. Is buying a house to renovate a good investment? To date, the answer is yes, at least according to an analysis by Corriere della Sera, the main daily newspaper in Milan. Let’s see together why buying a property to renovate can be an attractive option. Real estate to renovate with lots of character It’s a matter of taste, but it’s hard to deny that old Italian homes have cachet. Even from the point of view of thermal and acoustic insulation they offer advantages, since the thickness of the walls often exceeds 30 cm, the ceilings are very high, sometimes with rounded vaults and doors. The same goes for the quality of the materials, often red bricks without holes, marble or stone stairs. Tax bonuses and minimum rates The tax benefits on extraordinary maintenance work on residential buildings have also been extended for 2020: this means that for expenses of up to 96 thousand euros, you are entitled to a deduction of 50% Irpef, spread over ten years. This percentage can go up to 65% for energy requalification works. Added to this is the particularly positive situation on the mortgage front: interest rates at historically low levels provide access to very favorable financing conditions. How much do you save? According to the Nomisma Observatory, the savings would be considerable even taking into account the amount to be allocated to the works. In Milan, for example, almost 80,000 euros would be spent to buy an 80 square meter apartment to renovate compared to a house ready to be lived in. In principle, the Irpef advantage significantly affects the choice of buyers when the price difference between the house to be renovated and that already habitable is at least 30 thousand euros. Facade bonus Without forgetting another factor of interest for potential buyers: the 2020 finance law increased the IRPEF deduction from 50% to 90% for painting and renovating facades. An initiative that stems from the desire to encourage the redevelopment of the residential heritage of many Italian cities. age of many Italian cities.

Italy: effects of global warming on real estate investment

Global warming will change the real estate investment situation, causing a gradual loss of value of buildings in the areas most exposed to its effects. The effects of heat waves Cities, but also tourist resorts more exposed to heat waves will suffer a devaluation of their buildings. Take the case of a city like Bologna, where the thermometer stays above 37 ° C for long weeks, with high humidity, from mid-June to mid-September. Of course this will continue and even get progressively worse, pushing more and more people to leave the city, or at least not to choose it if they are first accessing property. The same goes for the more populated resorts on the coast, those whose traffic is congested during the summer: too many cars and traffic jams give off unbearable heat. Flooding Ditto for coastal localities, or those near rivers which can flood, or in flood zones: their real estate will inevitably lose value. The combination of various factors linked to global warming – rising sea levels, extreme winds and suffocating heat waves – will lead to an increase in the phenomenon of coastal erosion, with deleterious (and unexpected) effects for the real estate sector. If adequate countermeasures are not taken, there is a risk that the buildings closest to the coast will actually be part of the seabed. And their value is therefore destined to fall rapidly. And, it should be emphasized, the problem is much more current than we think. The simple risk that a building – or a series of buildings – will be submerged by an abnormal wave or storm or that the ground beneath the foundations will collapse, is already lowering its value today. Studies in Germany, Finland and California have shown, in fact, that houses potentially at risk due to rising sea levels have been sold for much less than their actual value. According to studies by the IPCC (acronym for “Intergovernmental Panel on Climate Change”), if the global temperature were to rise by more than 1.5 degrees Celsius, the melting of glaciers and the rise in level of the oceans will force 280 million people to flee their homes. These, in fact, will literally be submerged by “rising” ocean waters. And in Italy, the situation is not better. On the contrary: studies carried out by the ENEA show that 5,500 square kilometers of coastal plain in our country are threatened with flooding. Last year, 7 new coastal areas in danger were identified (Pescara, Martinsicuro and Fossacesia in Abruzzo; Lesina in Puglia; Granelli in Sicily; Valledoria in Sardinia and Marina di Campo in Tuscany), which are added to the coastal area of ​​the upper Adriatic between Trieste, Venice and Ravenna; in the Gulf of Taranto; in the plains of Oristano and Cagliari; in Versilia; Fiumicino, Fondi and other areas of Agro Pontino; the coastal plains of Sele and Volturno and the coastal areas of Catania. Very large areas, therefore, and with a very high level of urbanization: half of the Italian population resides in the 5,500 square kilometers threatened with flooding. In short, if the countermeasures adopted are not effective, the real estate market in these areas could suffer an unprecedented collapse.

Houses for sale at 1 €, 2020 updated list of municipalities

Houses at 1 euro in 2020, list of municipalities that sell them. Which municipalities are currently planning to sell houses for one euro? According to the latest news, the 2020 municipalities in which it is possible to buy houses for one euro, with a subsequent restructuring plan for the revitalization of the property itself, are: Montieri in the province of Grosseto in Tuscany; Borgomezzavalle in the province of Verbania in Piedmont; Carrega Ligure in the province of Alexandria in Piedmont Sambuca di Sicilia in the province of Agrigento in Sicily; Regalbuto in the province of Enna in Sicily; Ollolai, in the Barbagia mountains, in the province of Nuoro in Sardinia; Nulvi in ​​the province of Sassari in Sardinia; Lecce in Marsi in the province of L’Aquila, one of the first municipalities to have joined the initiative but where sales are currently blocked due to problems with the Revenue Agency; Vergemoli factories in the province of Lucca in Tuscany; Patrica in the province of Frosinone in Lazio. The initiative to sell houses at the symbolic price of one euro was born to save the houses and buildings of certain municipalities from neglect and deterioration. These are not, as it may seem from the price, completely dilapidated houses, nor cataloged as unusable, but simply houses to be renovated and which retain a solid structure. Buy houses for one euro, the rules When buying a house for one euro, it is necessary and mandatory to follow specific rules set by regulations. Each municipality in which this initiative is valid, in fact, provides certain rules to be respected, but the general and common objective is that the houses undergoing deterioration be restored according to a plan aimed at the recovery and renovation of the house. This is to enhance not only the good in question, and perhaps relaunch it on the market, but also to enhance the place where it is located. The initiative to sell houses for 1 euro could also represent an incentive for the real estate market, facilitating access to housing belonging to young people, who today face many difficulties in obtaining credit for the purchase of a first House. Additional costs Among the costs to be incurred for those who buy houses for one euro, in addition to the renovation costs, there are also all the notary and registration costs. Foreigners, in particular the British and the Germans, have so far been particularly attracted to this initiative. But many were also requests from Italians. The first country to launch the initiative to sell houses for one euro was Salemi, a Sicilian municipality in the province of Trapani, which launched this project eight years ago with the intention of recovering abandoned houses in the historical center. Followed by Gangi, another Sicilian city in the province of Palermo.

She bought home in Italy for 1 €, and tells how happy she is

Cecilia Solari, a woman from Argentina who bought a house for one euro in Sicily: “I want to live here” Cecilia Solari, a woman from Argentina, is one of the new inhabitants of Mussomeli, a small town of 10,000 inhabitants in the province of Caltanissetta. Here, the administration has sold vacant houses for one euro to repopulate the village, which has already sold more than 100 houses, in particular to foreigners. After the death of her husband in 2016, the Argentinian craftswoman traveled the world. “A year ago, I found myself in Sicily, I visited the most beautiful villages in Italy and I arrived here. I found the warmth I lacked, the important things in life,” says the 46 year old woman. I came here to look for values, I like the friendliness and the warmth of these people. I would like to establish here my laboratory for creating handcrafted jewelry. I like the floor of the room that will serve as a laboratory. A house of 250 square meters She bought a house of 250 square meters, on three floors, buying it among those of the project for one euro, even if she spent something more – still off the market – because it is already habitable. “On the lower floor, I will create my laboratory where I will create my jewelry,” explains Solari, who has already entered the community. Home buyers at one Euro 120 houses for one euro The commune of Mussomeli, for its part, has already sold 120 houses for one euro, mainly to foreigners. Some houses have also been sold to Italian entrepreneurs, who want to use them for tourist rentals. Cecilia Solari is one of the new inhabitants of Mussomeli, a small town of 10,000 inhabitants in the province of Caltanissetta, having bought a 250m² house there for € 1.

The by-law of condominium, or condo, in Italy

Like all forms of aggregation with other people, cohabitation in a condominium must also be regulated so that all owners and tenants can be fully guaranteed of their respective rights to use the property and the common thing. The act entrusted with the heavy task of crystallizing and containing these rules is the by-law of the condo. What is the by-law of condo and what does it contain? The condominium by-law represents the act which regulates a series of important aspects relating to the management body. In particular, the by-law contains the rules for the use of common objects and the distribution of charges, according to the rights and obligations of each unit, as well as the rules for protecting the decorum of the building and those relating to administration. It is therefore all these aspects of life in condo that must be regulated in order to avoid as much as possible the emergence of conflicts between units. This type of internal “payment” is accepted and accepted by the co-owners themselves and the payment also includes the table of thousandths in order to be able to distribute the charges. In addition to those established by law, the by-law may deepen and discipline other aspects and contents due to the peculiarities of individual condominiums. The rules of the by-law will not in any case infringe the rights of each unit resulting from acts of purchase and agreements, nor may it prohibit the possession of pets. Finally, the by-law cannot derogate from a whole series of provisions of the civil code in terms of condo, including those concerning innovations, the waiver of rights over common parts, indivisibility, the administrator’s obligations, etc. Contractual or assembly condo by-law The condominium by-laws can be of different types. The civil code expressly provides for what is known as the condo by-law of the assembly, or agreed and adopted by the condo assembly which approves it by qualified majority, both during training and during review. This type of by-law does not deprive a condo of the rights recognized by law, nor grant other rights. The so-called contractual (or negotiated) by-law, on the other hand, is prepared by the builder then normally accepted and approved by the units attached to the purchase contracts of the individual real estate of which it becomes an integral part. Although this by-law is not approved during an assembly, but at different times, it is in fact accepted unanimously by the units and, for this reason, it may contain more important constraints than that of origin of the assembly, limit the rights that individual units have on their respective properties or common parts, extend the powers of some or guarantee to others more important rights than others. Consequently, this type of by-law must always result from a written document and can only be modified with the approval of all the units. In cases where the assembly fails to form a condominium by-law, or the administrator does not convene the assembly at the request of the individual unit, it will be possible to appeal to the judicial authority. It will therefore be a resolution of the judge, to replace the assembly, to be responsible for preparing the (so-called judicial) by-law which will be valid for all condos. Is the condo by-law compulsory? The Civil Code, in art. 1138, establishes that the condo by-law must be adopted when the number of condos exceeds ten. However, since there is no sanction in case of violation of this obligation, if the condominiums required to adopt a by-law do not do so, their relations will be regularized by the rules governing the use of common things in general . For condos where this threshold is not reached, the drafting of a by-law is however optional: however, when you decide to adopt an ad hoc act, this will have the same effectiveness as the compulsory condo by-law. Adoption and modification of condo by-laws Always the civil code specifies that each joint ownership can take the initiative of the formation of the by-law of joint ownership or the revision of current. The assembly will then have to approve the by-law by a resolution, the number of votes for represents the majority of those present and at least half the value of the building. For the modification of the contractual by-laws on the condo, however, the consensus of the condos will be required. Once approved, the by-laws will then be attached to the register of meeting minutes taken over by the administrator and will be valid for all condos. It will be possible for dissidents to challenge it before the judicial authority, according to the procedures provided for in art. 1107 of the Italian Civil Code, within 30 days of the resolution. It is the task of the administrator, in accordance with art. 1130 of the Italian Civil Code, to ensure compliance with the rules of the condominium, as well as keeping the register of minutes of meetings, to which it will be attached.