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Bologna real estate market: house prices rise: + 1.5% – Economy

Bologna, 24 November 2021 – The real estate market to Bologna, the announcement comes from the analysis of Nomisma: “During the second half of 2021, the Bolognese real estate market confirms the return to the growth trend interrupted by the pandemic in 2020. The dynamics of prices have improved as has the convergence between the price offered and the price requested. The market, however , is driven by a constantly recovering demand which also pushes up the dynamics of sales and the speed of absorption of properties on the market. This dynamics is second only to the Milan market “.

Residential trading

During the first half of 2021, the number of residential sales in the municipality of Bologna increased by 28% compared to the same period of 2020. The 3,282 trades registered in the first six months are at the levels observed at the beginning of 2019. Although the demand for purchases is still high, in the course of 2021 there was a rebalancing in the market with a return of interest towards the rent.




The reasons for buying have changed again, with the revival of interest on the part of investors (19.5% compared to 16% in 2020). However, the majority of purchases concern the first home or the replacement of one’s main residence (70% of cases).

Addiction to mutual it is increasing and exceeding 75% of the trades carried out. A further trend, which is not always reflected in the market, is linked to the interest on the part of families to buy newly built properties (26% of transactions) compared to used homes.

Rising demand pushed prices higher and housing overall recorded a positive change equal to1.5% during the second semester. This variation is higher if we consider used homes (1.6%), while for new homes the growth is more contained (1.3%). The gap between the asking price and the actual price continues to narrow also in the second half of 2021, reaching 8.5% on average compared to 9.5% at the beginning of the year. The reduction concerned all the city areas in a uniform manner, even if in the center the discount is equal to 6.9%, while in the suburbs it reaches up to 10.9%.




For newly built homes, the discount is even lower, equal to 5%, given the strong demand on the market. The average sales times for new homes also continue to decrease, from 5.5 months in the first half to 5 months in the second half of 2021. The average sales times of used homes, on the other hand, remain stable at 4.5 months.

Considering the rental market, Nomisma detects an increasing demand after a phase of stability due to the effects of the smart working e the slow return of students and workers to their workplaces. The market returned to growth in the second half of 2021 with rising rents (+ 1.1% half-year) and average rental times again contracting and among the lowest compared to the national average. For used homes, times equal to 2 months on average were reached, compared to 2.7 months for the average of the main Italian markets. For the new constructions, the times were reduced to 1.5 months.

Non-residential sector

The non-residential sector was still in trouble during 2021. The number of sales is stable or slightly recovering, but still far from the levels reached in 2019. Considering the offices, the sales of the first months of 2021 were in line with the same period in 2020. The demand for purchases is strong reduction, also because it is not matched by an offer not always adequate to the requests of the companies and in any case increasing due to the numerous bankruptcies. Prices are unchanged compared to the first part of the year (+ 0.5%), while the gap between the requested price and the actual price has further reduced from 14% at the beginning of the year to the current 12%. The average sales times of office space decreased from 10 months to 8.5 months in the course of 2021. On the rental front, the demand for office leases was down, albeit to a lesser extent than that involved in the sale . Rents were practically stable compared to the first half of the year (+ 0.3%) and average rental times were slightly reduced (from 7 months on average to 6.5 months).




During 2021, the commercial sector showed signs of recovery following a particularly depressed 2020. In the face of a constant increase in supply, demand seems to have recomposed and stabilized. This rebalancing also slowed the fall in prices, which remained at the levels of the beginning of the year (+ 0.2%). The gap between the asking price and the actual price remains high, albeit slightly down compared to the first half of 2021 (from 13.5% to 12.5% ​​on average). Average sales times, after the rise recorded at the beginning of 2021, returned to 8.5 months. The times are reduced especially in the center and in the semi-center, where the owners intend to dispose of their shops given the current uncertainty of obtaining adequate profitability. In this sense, the excess of unsold stock tends to spill over into the rental market with a further reduction in rents equal to -0.3% (-1.3% on an annual basis) and a stability in average leasing times. , certified by now for three semesters over 6.5 months.




Residential sector forecasts

As for the coming months, the operators interviewed by Nomisma seem optimistic and forecast that in 2022 the market will return to the levels of 2019 (for 39% of them the performance will be even better). During the first part of 2022, an increase in the number of sales is expected, supported by a slight recovery in prices. The operators also expect that rents will increase more than prices, thanks to a significant return of interest which will also push the number of contracts signed in the next year.

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Zach Shipman

Zach is 47 years old and writes gaming technology and entertainment news for us. Every news of him is very true, so he is our writer. Suhail has 5 years of writing experience. Zach Email: zach@d1softballnews.com

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