Photo by Michael Tuszynski da Pexels
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Interest in the brick has returned. Also and above all because of the Covid 19 pandemic. The house has returned to the center of Italian dreams and projects (including investment). The search for a larger house (perhaps with a terrace and garden to meet the needs of life in lockdown), renovated suburbs, the center of big cities that empties of B & Bs and the return of residents and families, prices in tension , the renewed interest in the second home: these are all trends in the real estate market in recent months that promise to develop and grow further in the near future. And they are among the (many) themes discussed in webinar organized by Corriere.it, Thursday 22 July and who saw as moderators / experts the deputy director of Corriere della Sera Daniele Manca and Gino Pagliuca, newspaper signature and real estate expert. The webinar is part of the Le conversazioni del corriere format, a series of video content exclusively for digital subscribers of the newspaper.
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Subscribers had the opportunity to ask questions to the studio experts on topics such as tax discounts for renovations, opportunities for those who want to buy, mortgages, second homes. Below is a summary of the topics touched upon.
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How is the real estate market doing?
The real estate market in Italy is growing and people are more interested in buying at home. A trend that is recorded in many parts of Italy with some significant exceptions such as Milan, where the interest is very high but the concrete possibility of closing sales is held back by prices that have risen too quickly in recent times. We are obviously talking about the prices requested by those who sell, with prices exceeding 6 thousand euros even in areas (once) considered peripheral.
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What is the average profile of those who buy?
If tourism has stopped here is the tendency to buy for oneself: not to invest in the brick (perhaps by renting the house) but to live there. The crisis was devastating, but a small portion of the population is richer than before, while a good portion managed to save money and now want to invest it for their own well-being.
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Is there a return to second homes?
Yes, better if not far from the big city: more than high speed you need fast fiber.
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What is the impact of the Superbonus?
The super bonus is not having a particular impact on the home market, but it certainly contributes to revaluing the property.
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Who is using the Ecobonus?
Mainly villas and single-family homes, while condominiums have so far only moved on paper due to the difficulties they have encountered. For this reason it is likely that the Ecobonus will be extended until 2023.
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Is it possible to refuse the thermal coat to avoid the shrinkage of one’s balcony thus blocking the efficiency of the entire condominium?
If my space is yes, whoever owns the balcony must give the green light, the condominium cannot reduce my thousandths of ownership. But the condominium can choose to go around it, even if with dubious results from an aesthetic point of view.
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Does the renovation bonus also apply to elevators?
You cannot renovate it by yourself but it can be reimbursed, and in any case you are always entitled to a 50% personal income tax deduction.
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What nodes does the Bonus do you have?
None in particular, but it must concern buildings or buildings in populated areas of the municipality: historic centers or the so-called B zones. The facade can be repainted with tax deductions of up to 90% repayable in 10 years. If, on the other hand, I redo the plaster I am bound to energy efficiency.
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Let’s go back to the real estate market. Where is it worth buying?
Self-interest must take precedence over opportunity. Buying a house in beautiful Salento, but if I live in Milan, I will have very little chance of going there.
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What is the situation in Italy in broad terms?
Milan, despite the contraindications mentioned, the city that has seen the greatest real estate revaluation together with Bologna. The South is experiencing a moment of crisis due to the lesser influx of tourism, and Rome too continues a descent that has been going on for years.
Finally, what will the real estate trend be compared to stocks and bonds?
Hard to say, the brick market is not very volatile but on the other hand very liquid.
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