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Italian Cities Could See a Real Estate Renaissance

Guido Inzaghi, Partner at DLA Piper
Tuesday, January 8, 2013 06:00 EST

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Simon Hersom
Simon Hersom  
1/9/2013 12:24:51 PM
User Rank Urban Legend
Re: Refreshingly stable market
It is stable but it's illiquid too.  In reality Italy is not a market for the global investor in commercial real estate because most properties only trade between locals.  It was a standard joke that when an international agent was selling a property it was only because none of the locals would buy it.

Susan Leach
Susan Leach  
1/9/2013 9:22:26 AM
User Rank Blogger
Refreshingly stable market
Maybe Italy's sleepy real estate sector is getting a needed boost, but it's also refreshing to see a country that didn't succumb to the housing/real estate frenzy of the past decade, which has temporarily sunk so many other economies. 

 

 

samicksha
samicksha  
1/9/2013 2:50:22 AM
User Rank City Slicker
Re: Revamping a real estate market isn't easy
One major reason i find here is , Renting is unattractive for Italian landlords, because of rent controls and other restrictions. Rental properties have long yielded poor returns. Italy is known as nation of home owners 80% of all homes are self occupied, The housing market is depressed. Prices have fallen steadily since 2010, continuing their decline this year.

Simon Hersom
Simon Hersom  
1/8/2013 5:59:37 PM
User Rank Urban Legend
Re: Revamping a real estate market isn't easy
In my experience a lot of property in Italy is "improperly documented" with breaches of building regulations or planning constraints.  Every so often there was an amnesty, but it does make investing more of a lottery than a business for foreigners who can never understand how it works as well as the locals.

Mary Jander
Mary Jander  
1/8/2013 1:40:20 PM
User Rank Staff
Revamping a real estate market isn't easy
Italy seems to have shot itself in the foot regarding the real estate market. But at least there is a plan in place to rectify the situation if that's possible.

A lot of eyes will be on the situation to see if the measures taken actually prove effective.

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