Monday, February 16, 2009
Doing business with the brick using the Where to buy home-price decline of
Marco Maroni
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Milan areas like the island, near the Garibaldi train station or the area Porta Vittoria, in the process of regeneration. In Rome, the districts and Bologna San Giovanni, east, or Monteverde Nuovo, south-west. It's just a few examples. The important thing is that the area is well serviced, safe and even better if re-training. These are the signs of the experts to do good business today with the house, taking advantage of falling prices. The economic crisis has made its effects felt even on the real estate market. Home sales were down (it is estimated a lower trading volume of 15% in 2008 compared to 2009), the time of sale are stretched and prices are lower than a year ago. Estimates differ: according to the latest report on the office real estate market studies Nomisma, the average drop in prices in the second half of 2008 was 1, 1% Rated (2.5% in real terms, ie as inflation), with peaks up to 2.5% and 4% in cities like Milan and Bologna. According to the research department of the UBH (agencies with over 1,500 brands Professionecasa, Gabetti and Grimaldi) in late summer 2008 there was already an average nominal decrease of 7.8%. In any case, this is the first decline in a decade. As the agencies point out, demand is falling and it's easy to get discounts from sellers. How will the market peaches According to Daniel, Director of Real Estate Nomisma, 2009 will slow but still there is no reason to expect large declines: "The low level of borrowing of Italian households is what saves the market from the very substantial price reductions. However, the sector has two speeds: one for quality properties for which the offer is less and demand more solid, the other on the buildings without quality, with high supply and low demand. " Will be short vacation in remote and poor to suffer more. Feel the same way Ghisolfi Alexander, head of studies UBH: "The cuts there are still particularly for those properties that were intended to buyers with little cash to those who must make a loan at 80% or more of the value. This group now has more difficulty getting financing and views economic uncertainty is also less willing to commit. So the question for the suburbs hinterland is significantly declining, with impact on prices. " Opportunities, how to choose "In Milan, a two-room apartment of 50 square meters around the Island or in Corso Sempione, can cost between 175 thousand and 250 thousand euro," says Ghisolfi, "an area which is still interesting is that of Porta Genova and Via Tortona , a former industrial area in recent years has undergone major restructuring, but where prices are still low. " According to the expert who is also the tip on the streets around Buenos Aires, always betting on redevelopment, and especially in areas near the new subway lines under construction (the work of lines 4 and 5, which will cut Milan from east to west should start this year). In Rome, in addition to the aforementioned districts Bologna, San Giovanni and Monteverde Nuovo, interesting areas are considered those of Via Tiburtina, Fleming and Foreign Ministry, with prices at around 4-5 thousand euro per square meter. The speech, however, is valid for all cities of the Peninsula: Point to semi-central areas of quality.
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