House prices are rising in Europe, but not in Italy
Paolo Dezza, Il Sole24ORE – Excerpt from “Tecnici24”
The rise in home values in Europe in the third quarter of 2018 has stabilized at an average of 4.3% compared to the same period in 2017. The values just published by Eurostat are also growing in the previous quarter, respectively by 1 , 6% in the euro area and 1.5% in the European Union. In Italy, however, there was a decrease of 0.8%, both compared to the previous year and the previous quarter.
However, our country is not the only one in negative territory. Compared to the previous quarter, prices also lost ground in Romania (-0.7%), Finland (-0.4%), Slovakia (-0.3%) and Hungary (-0.2%). The all-Italian peculiarity is that for four years the trades have started to rise again while the values continue to decrease.
There are European countries in which meanwhile the residential real estate market is booming. This is the case of the first three countries on the podium. The largest increases in the third quarter (on an annual basis) were recorded in Slovenia (+ 15.1%), Holland (+ 10.2%) and Ireland (+ 9.1%).
In Europe, both exchanges and values have grown at a more intense pace than in other areas of the world. According to Real Estate Scenarios, the Brexit effect during 2018 was particularly felt also in the residential sector. Paris, for the first time, is attracting more investment capital than London.
For 2019 in Europe the renovation of residential buildings is expected to increase compared to the trend of new buildings.
In the luxury segment this year is expected to grow again. Among the European capitals, Berlin, Madrid and Paris will be the cities with the greatest increase in demand and consequently of exchanges and values in growth.
Source : https://www.ilsole24ore.com/