Change in real estate prices in Italy in 2020

How the rental and sale prices of the various types of houses have changed in 2020

Faced with the crisis, the laws often change. It’s better to trust a real estate lawyer

Between incentives and bonuses for restructuring, changes in taxation on sales and rentals, paying for the services of a real estate lawyer could save you significant amounts of money, and above all, avoid mistakes with serious consequences. Even more so if you want to make a real estate investment in Italy while living abroad. Italy has been hit by the crisis much more severely than France, Germany and many other European countries. As a result, real estate prices have fallen dramatically over the dozen years starting in 2008. As an example, a house by the sea in Italy costs on average a third of the price of a similar house on the French coast, and can cost up to six times less if it is a house in the south.

How did the impact of the covid affect the price trend for homes for sale and rent in 2020?

Change in property prices in Italy in 2020
Change in property prices in Italy in 2020

To understand this, Idealista analyzed the average variation in Italy according to the various types of real estate. Penthouses, houses with gardens or swimming pools, but also studios and apartments. Here is the point to understand which house types have seen their value increase or lose. Often, in fact, we have heard of a covid effect on the new housing choices of Italians (but also on a global scale) which, essentially, would result in the identification of new domestic priorities that end up favoring the search for properties with an external outlet, perhaps with a larger size and, why not, perhaps even with a garden or a swimming pool available. Let’s see, with the help of the graphs, what the data held by idealista tell us.

Rental properties

As it is easy to imagine, the covid effect on prices is more pronounced with regard to rental properties. Moving home, moving from one rental to another is undoubtedly easier than the time and bureaucratic tasks that real estate sales require. But, above all, many negotiations already started have continued without excessive jolts after the lockdown phase. Judging from the data provided by Idealista (on ads of houses for sale and for rent uploaded on the idealista portal), the situation of real estate trends in Italy is more complex than one can imagine, so much so that it would probably make more sense to talk about ” covid effects ” (declining precisely in the plural) and analyze multiple aspects, also clearly distinguishing the market for sales from that of rents, which follow quite different logics (especially in this historical moment). However, the real estate cut that saw prices rise more over the course of 2020, as regards rents (28.9%), but also for homes for sale (8.1%), recorded significant growth, it is the studio apartment. A gap of over 20 percentage points, despite the studio flat being the second type that has grown the most after the two-bedroom apartments (+ 8.9%) among the sales announcements.

Another very evident “delta” between the percentages of variation on an annual basis, however, is that between the prices requested for rents and sales of houses in the countryside. The former, in fact, increased by 17.7% while rural properties recorded a -0.7% in the average of the prices requested for sale.

Another datum to underline is that, in Italy, on average the advertisements of houses for rent (of any type among those analyzed), did not register negative changes. On the contrary, as regards the ads of houses for sale, prices have decreased for houses with garden and swimming pool (-1.1%), houses without external exposure (-3.5%) and for houses in the countryside (- 0.7%).

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