Buying a property at too high a price would mean spending your money unwisely, and would also compromise the resale process at the moment of eventually reselling the property.
Indeed it is not easy to understand the correct market value of a property, for those who are not professionals in the given market. As we have noted, Italian real estate values grew almost uninterruptedly from the early 1950s to 2006.
Italians are world leaders in their tendency to purchase real estate, ranking the highest in real estate holdings as an average share of personal and family assets.
The propensity to invest in "bricks and mortar" is strongly rooted, thanks in part to the sharp variations in national currency prior to adopting the euro, and to a history of aggressive average inflation rates, also subject to strong fluctuations.
The instability of the financial system and frequent episodes of stock-market volatility also pushed Italians towards the investment that seemed most secure: real estate.
Given the very large share of property owners, a succession of national governments have always sought to protect private-property assets, by means of applying one of the lowest property tax rates in Europe.
The combination of these multiple factors contributed to almost continuous solid growth in the Italian real estate market, from the close World War II until 2006-2007.Since then, triggered by the financial crisis of 2008 and the resulting liquidity problems in a part of the banking system, as well as an increase in property taxes (albeit slight), Italy has for the first time observed a prolonged phase of decline in real estate prices.
Prices in many areas of the country have fallen substantially, along with the number of sale transactions.
Since the second half of 2017, however, this slide in prices has generally come to a halt.
The decrease in prices has stopped, but the subsequent rise is still in the initial phases of the trend. Therefore, given all this, today is surely an extremely favourable time to buy real estate in Italy.
Obviously some regions and areas are more renowned than others, and some types of property are in greater demand. This means that the potential purchaser must pay extreme attention in analysing the correct current value of the market neighbourhoods: an environment where it's not at all easy to find your way around.
At CERTIFIED-PROPERTIES ITALIA we will carefully evaluate the suitability of the requested price. Not only that, we will also give you our accurately evaluated opinion of the appropriate purchase price, so that you can know with precision how much to offer the Seller.
Our certification, following verification of the above, will avoid any kind of problem, unwelcome surprise or dispute, before, during and after the purchase of your new property. And it will save you from long, exhausting and expensive legal proceedings in Italy, allowing you to benefit from absolute peace of mind and the pleasure of your new purchase.
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