Real Estate News

Real Estate News – July 2020

WeAgentz also collected in July, for the readers of its blog, the main news in the real estate sector: a precise and detailed focus on what is happening in the Real Estate sector at the national level but not only. The section is dedicated to real estate operators and professionals, to licensed real estate agents, and to all those who are passionate about the real estate ecosystem in Italy. Here is what happened about a month after the entry into phase 3 of the Coronavirus pandemic, which has practically upset the gears of the world economy: find out what are the new trends and the new protagonists of the sector, the new dynamics related to the purchase and rental of properties, the trend of prices and sales in the various areas of our peninsula.

The news of July 2020 week by week

First week
Second week
Third week
Fourth week
Fifth week

First week:

  • The lockdown did not scratch the brick: despite the pandemic, house prices increased in 17 Italian regions, with an increase in values ​​of 1.4% in the spring months. Liguria, Trentino-Alto Adige and Valle d’Aosta remain the most expensive regions, between the cities of Venice and Florence. ( Bluerating )
  • The ownership of Gestim and Miogest passes to idealista, which strengthens its technological leadership in real estate with the acquisition of 2 of the best Italian real estate software, in a process of integrating new services and products. The founders and executives will continue to lead their respective companies. ( idealist )
  • In Rome, business centers and empty offices: with an offer that is now obsolete, it is a profound crisis. With the pandemic and the spread of smart working, 950 thousand square meters have remained deserted, according to a survey by Josas Immobiliare. The Eur and Tiburtina districts suffer the most. ( Corriere della Sera )
  • 3 out of 4 Italians reside in their own homes, the majority is in the North: for Italians, having their own home is a priority, a goal to be reached as soon as possible in order to achieve stability. Out of 75.5 million, 60 million homes have natural persons as owners. ( Journal of the Navigli )
  •  How do you look for a home in the times of Covid? The pandemic has only temporarily changed the needs of those looking for a home, in addition to the volumes of research: at home, happiness is also a matter of square meters, the property becomes an asset in which to invest to improve the quality of life. ( The Messenger )
  • The Casa Veloce case breaks out in Modena, Federconsumatori’s complaint: “real estate information service bordering on the scam”. A fake real estate agency was asking 250 euros for “information” on accommodation at bargain prices, but in reality, providing contacts of completely unaware owners. ( Modena Today )
  • Municipality of Genoa entrusted to Spim 1,500 real estate units: the agreement has a duration of 9 + 9 years and will entrust the properties to the subsidiary Società per il Patrimonio Immobiliare, including maintenance, contract management, condominium management, recovery of arrears. ( First Channel )

Second week:

  • The value of houses increases in the first three months of 2020 in Italy. Sales recorded a sharp decline in volumes (-15.5%). The increase in the IPAB (+ 0.9%) is due to the 1.2% increase in existing house prices, while the prices of new houses decreased by 1.2%. ( Online Mortgages )
  • In Italy, real estate assets at auction decreased by 3.4 billion euros in 2019 (total value of 18 billion euros and 160,594 properties). The data emerge from the “Real estate auction scenario 2019” analysis carried out by Reviva: 56% are residential, 34% non-residential and 10% land. ( idealist )
  • Asset management in real estate through real estate funds – both listed and unlisted – and the Reits, continues to grow in the world, despite the Covid-19 pandemic has slowed this trend. According to the 2020 Report by Scenari Immobiliari, assets are growing in 2019 and 2020 is also positive. ( Online Trend )
  • “The recent acquisition of Miogest and Gestim by the idealista.it real estate portal will contribute to a dangerous concentration of users’ personal information in the hands of a few giants of the real estate web ”. This was stated by Nicola Bombonati, FIAIP National Vice President. ( FIAIP )
  • Cerved launches Bee The City, a connection platform between home seekers and home sellers, for managing all stages of the sale and for connecting real estate agencies and consumers in a transparent, simple and secure way. The project is starting in Milan. ( Real Estate Monitor )
  • Risks and opportunities of digital acceleration: with the boom in online evaluations, visits and negotiations, 30% of agencies in Liguria could close within two years. According to the hybrid agency RockAgent, a drastic reduction in street shops in favor of digital agencies is expected. ( IVG.it )
  • Schroders Real Estate acquires the majority stake in Pamfleet, a 1.1 billion value-add real estate investment manager distributed across four funds, with offices in Hong Kong, Shanghai and Singapore. The new Schroder Pamfleet will boast massive know-how in Private Asset and Real Estate. ( Real Estate Monitor )

Third week:

  • Fortunately, the feared collapse in real estate in the months of March-April did not occur and the damage was limited to -29.2% in trade at the national level during the first half of 2020. Economic evolution and state incentives will play a fundamental role. ( idealist )
  • From “how much does it cost?” to “is there a terrace?”: this is how trends have changed after the Covid-19 crisis, starting from a 36% drop in rents in New York, up to the short-term rental crisis in our tourist cities. Boom for holiday homes and villas with gardens outside urban centers. ( Sky Tg24 )
  • The loans received from Italian families and for the purchase of the house in the first half of 2020 are 12,345 million euros, with a + 10.1% compared to the same half of 2019. The data for the next half will be crucial to quantify the damage caused by the Covid-19 emergency. ( Tecnocasa Group )
  • The conference “Real Estate: The Question Mark For The Future” outlined a picture of the general situation by relating Real Estate, NPL, and fintech. There was talk of the slowdown in investments in the real estate sector and the impact of the crisis on Italian families. ( PLTV.it )
  • News for the relaunch: with regard to the Sismabonus, the Revenue Agency has specified that the holders of business income, including legal persons, can also benefit from it, both in relation to the company’s properties that are the subject of the activity carried out, and leased. ( Invest Today )
  • The UK stamp duty has been canceled on all properties below £ 500,000. The measure is necessary to instill confidence in the sector that must revive the British market, the real estate. 9 out of 10 people will not pay house taxes this year. ( Il Sole 24 Ore )
  • Casa.it promotes opportunities in the real estate sector: it has decided to finance the training course for 10 women to obtain the Nar designation, recognized nationally and internationally, which will allow them to become part of an international Realtor elite. ( Kong News )

Fourth week:

  • The Nomisma research institute predicts a severe blow to the Italian real estate sector caused by the Covid-19 effect, which will involve not only the purchase but also the construction of the real estate. But it will not have the same scope throughout Italy and for 2020 there are more or less optimistic forecasts. ( TG Sky 24 )
  • The Covid-19 emergency causes a sharp decline in the Italian real estate sector in the first quarter of 2020: for two-thirds of the demand is still oriented towards buying and selling rather than leasing. The residential sector is strongly influenced by the events of the moment. ( ANSA )
  • Tecnocasa’s analysis of data from the Revenue Agency reported in a study the sharp decrease in sales due to the crisis in the major Italian cities. Among the effects, the downsizing of prices in large cities and the recovery of the peripheral areas of the metropolis. ( Wall Street Italy )
  • The demand for houses in tourist resorts near the Italian lakes continues to grow, from both Italians and foreigners. The greatest requests concern holiday homes and properties for investment purposes. Focus on houses with outdoor spaces, gardens and larger sizes. ( Tecnocasa Group )
  • The behavior of Italians towards properties to buy and rent is changing: they must increasingly present characteristics such as large spaces and gardens in which they can live for long periods and above all work in smart working mode. New blood from the 110% SuperBonus. ( The Italian Value )
  • Re / Max offers a snapshot of the real estate market in Verona and Padua: the demand for one-room apartments is decreasing and the demand for three / four-room apartments is increasing: property prices are not decreasing or there is a rush to bargain prices. The market, therefore, as evidenced by various factors, holds. ( Verona Evening )
  •  According to Confedilizia, the recovery of the real estate market must be supported by adequate tax incentives, both now and in the years to come. Failure to postpone the payment of the first installment of the IMU inflicted a severe blow on Italian families, property owners and merchants. ( Ragusa newspaper )

Fifth week:

  • Despite the harsh months of crisis that have just passed, the Italian residential real estate market is stronger than ever: + 10% on an annual basis. Credit institutions have even granted Italian families 1.13 billion euros in loans more than in 2019, with a boom in subrogations. ( Immobiliare.it )
  • Global Macro Call in July: Experts Janasiewicz and Dwek talk about European recovery, investments, American stock markets and the future of business travel. Companies will have to decide what to do with empty offices, given the growing trend in the use of smart working for employees. ( Yahoo Finance )
  • The Tecnocasa report indicates the real estate sectors that are growing and decreasing: a sharp increase in food store rents (+ 8.0% in the quarter). Contracts for restaurants, clothing and commercial premises are down. The demand for warehouses in the distribution and logistics sector rises. ( Ravenna24Ore )
  • All you need to know about the Superecobonus, the 110% tax deduction for those who renovate and redevelop buildings at an anti-seismic and energy level. Consumer associations prepare services that help citizens navigate the complexity of the legislation. ( The Press )
  • Public real estate assets receive a boost from the collaboration between the State Property Agency and CDP, aimed at regenerating and enhancing public assets for the community and in a green key. The use of public real estate should succeed in creating economic and social development. ( FASI.biz )
  • BNP Paribas REIM Italy Sgr has completed the acquisition of a recently redeveloped property in the center of Milan. The CIO is convinced that, despite the crisis, the core real estate market in Italy continues to represent a good opportunity for investors. ( Real Estate Monitor )
  • SIAE has put its instrumental properties up for sale: the sale should take place in the form of the sale of shares in the Norma Fund. The six-month mandate was entrusted to Coldwell Banker Commercial for the real estate part, with the condition of a capital gain of 50 million. ( idealist )