Real Estate transactions in Venice grow almost 50% over three years ago

Venice is among the thirteen large Italian cities to register growth in home sales over those of 2013 – in the height of the crisis and the fourth in total nationally. So we are informed by Nomisma’s data – the society that specializes in the analysis of the Italian real estate market – and noted and elaborated by the daily 24 Hour Sun.

The growth in home sales compared to three years ago is in fact 47.1%, with a drop in prices just under 8% in the same period – therefore the lowest – and a rise in new mortgages of over 70%. A market, needless to say, of second homes sold mostly for tourist use or for transformation into bed and breakfasts or other tourist lodgings, etc.

The data from Nomisma which refer to the second half of 2016 are signs of an uptick for the real estate market in the Lagoon – where the prices have always remained rather high in these years, notwithstanding the progressive weakening due to the market crisis – and a growth in market demand for rentals, where however offers are lacking, because homes are already monopolized by tourist locations with brief stays, related in particular to the site AirBnB. In the second half of 2016 the demand for homes in the historic center grew, and as has been said, also for rentals, mostly because tourist rentals of a few days are the major offerings in the area.

Source: La Nuova di Venezia Jan. 10, 2017

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