Balance and prospects: the Italian real estate market by the end of2023 and expectations for2024..

The Italian real estate market is undergoing a period of significant changes influenced by global economic factors such as inflation and rising mortgage interest rates. Despite these challenges, the industry shows signs of resilience and stability, with some growth prospects linked to emerging innovations.

However, a negative aspect is the speed of transactions, which has sharply decreased at the end of this year. The influence of inflation and mortgage rates. Inflation and high mortgage rates have negatively impacted the number of properties, but surprisingly, they have not yet led to a significant drop in real estate prices. According to Antonio Intini, the Chief Commercial Officer of Immobiliare.it, despite the slowdown in transactions, real estate prices remain stable. Intini explains that the dynamics of transactions often diverge from the dynamics of prices, which usually lag behind.

End of 2023: Comparison with the European market.

The year 2023 is expected to end with more than 650,000 transactions, which is lower than the peak of the post-pandemic period. However, according to the Scenari Immobiliari forecast for 2024, Italy will surpass 144 billion euros in industry turnover, outperforming France and Germany. A slight decline in the residential real estate market is anticipated, but with rising prices.

The role of industry participants and consumer choice.

Luca Boscardelli from AgentiImmobiliari.org emphasizes the importance of industry participants and consumer choice. According to Boscardelli, those who turn to qualified and trained intermediaries will optimize their capital. Innovations in the industry are seen as an expression of the vast growth opportunities in the market, but the benefits will be particularly appreciated by consumers who seek out competent professionals.

Prospects for 2024 and beyond.

The dynamics of inflation and interest rates will be among the main factors influencing the market next year. However, Intini suggests that 2024 may be better, with the market declining but at a more moderate level compared to 2023, in search of a new, more sustainable and healthy balance.

In conclusion, the Italian real estate market is adapting to the changing economic environment, showing signs of resilience. The importance of industry participants and informed consumer choices is fundamental to leveraging the opportunities offered by the market. With the right strategies and adaptation to new conditions, Italian real estate seems to be well-positioned to overcome future challenges. from AgentiImmobiliari.org.