Rome-takes-the-top-spot-in-Italy-for-property-growth

Rome takes the top spot in Italy for property growth

20.11.17

Italy’s capital has long been the the most important location for real estate in Italy, but over the past 12 months Rome has experienced a significant upswing of demand.

The Eternal City – which boasts nearly 3,000 years of globally influential art, architecture and culture – saw property transactions rise by 10.2 percent in Q1 of 2017. The main triggers for this increase are the continuing recovery of the Italian economy and the country’s improved economic forecast.

“Rome and Milan have always been the most important real estate locations in Italy,” says Marco Rognini, Managing Director of the Engel & Völkers Market Center Rome. “Currently the capital is showing the most transactions, ahead of Milan and Venice.”

The highest rise in transactions over the past 12 months came from larger properties, but medium-sized homes were sold most often, making up the highest market share with 54 percent.
High quality, renovated apartments are also especially popular, with prices determined by property features such as good condition, city views or an outdoor area with a terrace, balcony or garden. The highest prices per square metre – up to 9,500 euros – were achieved by apartments in new-build complexes, at up to 9,500 euros.
As one of the most attractive tourist destinations in the country, Rome is a focal point for international buyers, and when it comes to location, the most sought-after district is Municipio I, home to the historic city centre and adjacent to the Vatican.

Other popular districts include the districts of Monti and Trastevere with their narrow streets, a multitude of ancient attractions, historic palaces and a wealth of cafés and restaurants. Quieter residential have also seen a marked rise in popularity, such as the northern neighbourhoods of Prati, Parioli, Trieste and Trionfale.

The artists’ quarters of Ostiense and San Lorenzo have also grown in popularity. They are known for their diverse cultural offerings, bars and lively nightlife. Here buyers tend to look for spacious loft apartments.
The increasing number of new-build projects and renovations of existing ateliers points to a growing demand in these districts, while Esposizione Universale di Roma, or EUR for short, in the south of the city is showing positive growth.

Numerous international companies are based here, which makes this area an attractive location for professionals. As well as its many green spaces, the proximity to the coastal town of Ostia and the good public transport connections to the city centre are important purchasing criteria.

Engel & Völkers expects the upwards trend to continue in 2018. “We expect that the prices for properties in the premium segment will continue to show stable growth”, says Marco Rognini. “The highest prices may well continue to be fetched by new-build properties built to a high technical standard.”

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