Real estate news - August 2021

Real estate news

WeAgentz also collected in August 2021, for the readers of its real estate blogthe news of the sector that appeared in the main newspapers: what is happening in Real Estate nationally and beyond? You will always know, and in real-time, thanks to the usual weekly and monthly column dedicated to real estate operators and professionals, to qualified real estate agents and in general to all real estate enthusiasts in Italy.

We are in the height of summer, with many real estate agencies that, despite the forced blocking of work activities imposed in recent months, still choose to close their doors for holidays, but many others continue their work incessantly even in August. How will the economy react to all of this? There is a timid rise in property prices, while the preferences of the most sought-after property types change, pending the allocation of new funds by the European Union to make up for the stop of the special redundancy measures.

The news of August 2021 week by week

First week
Second week
Third week
Fourth week

First week:

  • According to the Financial Times, shoppers are looking for an escape from Coronavirus in Italian lakes: demand increases with fears of a second pandemic wave in Europe, open spaces and romantic views scattered around the peninsula attract both internationals and locals. ( Financial Times )
  • Tourism, Italians’ preferences also change regarding holiday homes: for the Fimaa-Confcommercio Real Estate Observatory, the mountain wins over the lake or the sea due to the pandemic. The drop in demand from foreigners, which goes from 29% to 18%. ( Here Finance )
  • “The first step in the sale of a property is the sale of oneself, trust in the real estate agent is essential”. This was stated by Dario Castiglia, CEO of Re / Max Italia. “The agency must equip itself with all the tools that guarantee the best possible presentation to the client”. ( idealist )
  • Confedilizia: the crisis of commerce, catering and activities open to the public is still serious, a plan to protect lease relationships is needed. There is also an urgent need for a structural intervention to reduce the tax burden on rented non-residential properties and an intervention on the IMU. ( Italian Stock Exchange )
  • “The stop from Coved will not stop the real estate market “, says Daniele Palermo, president of Tempuras: “The development plans of the most dynamic operators are not jeopardized, the market decline could arrive at the end of September, but it will be necessary to evaluate the extent of EU funds “. ( Forbes )
  • Inhibit SGR: 70 properties for sale in Tuscany, for a value of over 15 million euros. Of these, 67 are located in Florence. In Italy there are over 300 properties that Inhibit is selling, according to the plan for the disposal of public real estate assets by the MEF. ( Firenze Today ) 
  • New real estate operation in Italy by Tokelau, carried out through the Tokelau Real Estate Opportunities (Treo) fund: acquired 19,000 square meters of buildings in the Milanofiori business centre in as sago, leased to Accenture Sodexho. The area hosts the headquarters of large multinationals. ( ANSA )

Second week:

  • The brick, which has always been considered a safe haven, will be a liquidity catalyst for Italians. This was confirmed by a survey conducted by Re / Max Europe. Most respondents expect a decrease in the rental and sale of residential and commercial properties. ( Blue rating )
  • The last missing piece has also arrived to start the 110% tax deduction (Super bonus): after the publication by the Miser of the Sworn Decrees and the Eco bonus Requirements Decree, the Inland Revenue has in fact published the implementing measure. ( QualEnergia.it )
  • Super bonus 110%, tax inspections for 8 years: provision of tight controls for violations, with the sending of the cards to the prosecutors. The supplier who applied the discount on the invoice or who bought the tax credit could face serious penalties. ( Here Finance )
  • Note from Confedilizia: “First negative opinion on the text of the Prelaunch Law Decree, based on the drafts circulated and the communications circulated by the Government. There are no significant measures for the real estate sector “. Requested the reduction of cadastral multipliers. ( Yahoo Finance )
  • The Lombardy Region allocates 23 million euros for interventions to recover vacant, unsold or unused public and private real estate assets, to be allocated to social housing services. The municipal and Aler properties are excluded from the measure. ( Yahoo News )
  • Huge real-estate assets confiscated from the Coosa Nostra bosses and assigned to the National Agency for Confiscated Assets, could be used for business ventures in Sicily. The obstacle is the difficulty of finding economic resources to renovate the buildings. ( Montreal News )
  • The long list of arch stars who have transformed Milan is enriched with a new name: the Norwegian studio Snøhetta will redevelop the former Telecom building in via Pirelli 35 which, together with the Italian Park Associate, will reinvent the real estate asset. (Il Sole 24 Ore)

Third week

  • The Covid-19 emergency does not affect luxury residential in Italy: even in the first half of 2021, the agencies of the Engel & Volker’s group managed to complete numerous transactions over a million, including a villa in Marimba that belonged to actor Roger Moore. ( Wall Street Italy )
  • “In Italy, 30% of the space occupied by offices will be freed, with a consequent strong impact on the real estate market”. This was stated by Alessandro Promo, today CEO of the Leonardo Group. With the massive use of smart working, companies will reduce physical workstations. ( Real Estate Monitor )
  • Only 9 out of 28 cities analyzed saw an increase in values ​​in the first half of 2021. This emerges from the Savills Prime Index report on post-Coronavirus real estate prices. Berlin, Amsterdam and Paris are the best performers in Europe, while Lisbon, Madrid and Barcelona are bad. ( idealist )
  • Over 30 thousand real estate auctions postponed for 3.7 billion euros: the T6 Observatory photographs the effects of the lockdown. Skipped procedures, increasing arrears, the duration will be further extended by 4.6 years: the new executive procedures have gone from 22,319 in 2019 to 13,381 in 2021. ( Il Sole 24 Ore )
  • The post-Covid-19 increases job opportunities in the real estate sector. The rebound effect given by the post-lockdown and the fear of families to keep their liquidity in the bank shifts attention to real estate: the brick is always a safe haven for Italians. ( TargatoCN.it )
  • The 50 most resilient cities in the world on property prices after the Coronavirus pandemic: the Knight Frank Global Cities Index draws up the particular ranking, in which Manila, Tokyo, Stockholm, Moscow and Geneva excel. A general recovery of the index is expected in 2021. ( idealist )
  • Poste Italiane, focus on the enhancement of owned properties. The company regains ground after five sessions of decline on the stock market, but the press returns to talk about the sale of non-instrumental properties to continue financing the group’s modernization plan. ( Trend Online )

Fourth week

  • Eco bonus and Sismabonus at 110%: you can choose between a discount on the invoice and credit transfer. For this reason, several banks have already taken steps to receive the tax credit and allow citizens to start work. The forerunner is Unicredit. ( Dove.it )
  • The rents go back to the pre-crisis levels: after a few months of deadlock starting from March, there is already a real rise in residential leases throughout Italy, with a peak recorded in Rome. And a further increase in prices is expected in the coming months. ( H24 News )
  • The Report – Global Luxury Market Insight 2021 reveals the latest trends in luxury properties: among them, Wellness Real Estate stands out, a trend that is emerging in the high-end real estate sector. The Italian market is of particular interest to foreign investors. ( Immobiliare.it )
  • The crisis caused by Covid-19 has led to an increase in the offer by renters of rooms for students: in general, availability has more than doubled, registering an increase of 149%. The most expensive cities in Italy for off-site visitors are Milan and Rome. ( The Messenger )
  • The impact of the crisis caused by the pandemic reveals great opportunities for those who want to buy a house in the South. Not only are the prices lower, but the possibility of working in Smart Working and various benefits make the investment more than favourable. ( idealist )
  • The real estate tycoon Gerald Hines, considered a visionary in the real estate sector, has died at the age of 95: his son Jeffrey C. Hines will replace him at the helm of the homonymous group. The portfolio of Hines is also large in Italy, with iconic properties, especially in Milan. ( Il Sole 24 Ore )
  • Intesa Sanpaolo Casa has decided to develop a network of real estate brokers with a VAT number, changing its business model to the detriment of employees. Search for licensed agents active in Milan, Turin, Bologna, Florence and Rome. ( Real Estate Monitor )