Real Estate News – April 2020

 Real Estate News – April 2020 post thumbnail image

WeAgentz also collected in April, for the readers of its blog, all the main news of the real estate sector: here is a precise and detailed focus on what is happening in the Italian Real Estate sector and beyond, in the month of April 2020. Viewfinder focused on how real estate professionals are gearing up to face and overcome the very serious Coronavirus emergency, which led to the forced closure of all real estate agencies for most of March, giving the possibility of work only remotely using the smart working formula.

The news of April 2020 week by week

First week
Second week
Third week
Fourth week
Fifth week

First week:

  • Coronavirus: the crisis in the real estate sector will continue until the 3rd quarter of 2020. Demand for investment is also decreasing, house prices will drop as a result of the downsizing of volumes. Regarding the first houses, everything will depend on how families and businesses react. ( Il Sole 24 Ore )
  • Council of Ministers ready to launch the April Decree to counter the Covid-19 emergency: the provision will contain, among other things, urgent measures such as the waiver of the requirements for the use of the first home bonus and the extension of the rental bonus for activities commercial, corporate and professional. ( The Italian Times )
  • The national real estate market was challenged by the devastating impact of the pandemic. Tecnocasa expects a slowdown in sales: in the first two quarters of 2020, there will be historical lows, given the impossibility of completing the sales and the missed visits to the properties for sale. ( Online Mortgages )
  • The Coronavirus does not spare the real estate sector of the Italian retail, for which the positive sign is expected only in 2021: after 2019 with the growth of 3.4% (9.2 billion euros), a decrease in turnover of 6, 7 billion in 2020. The high street of luxury commerce sought by investors. ( Italy Today )
  • Idealista interviews a handful of prominent figures among real estate agents in Northern Italy, to understand how professionals in the sector are gearing up in this moment of blocking activities: what are the sentiment and the strategies for recovery, including smart working, webinars, and communication difficulties. ( idealist )
  • The first testimony of the serious difficulty in which the real estate sector activities are facing , by a broker from Civitavecchia: no certainty for the future, other entrepreneurs have the business at risk and are considering closure. The bonus of 600 euros offered by the state is insufficient. ( AGI Italian Agency )
  • Casa.it extends the PrimaVista service from April 1st to properties for which only traditional photos are available. CEO Rossetto adopts the measure to support real estate professionals, who will give their customers the opportunity to take advantage of the innovative service even for non-360 ° photos. ( SimplyBiz )

Second week:

  • Rome, Nomisma predicts a 10% decline in the real estate market since the advent of Covid-19: prices, sales and turnover down for three years. Opposite opinion for Link Immobiliare and Logim Real Estate: the brick will be the new safe-haven asset and once the restrictions are over it will restart with unexpected force. ( Corriere della Sera)
  • Liquidity decree, an official extension of the first home facilitation: suspension of the terms for benefits from 23 February to 31 December 2020, i.e. 18 months from the purchase for the transfer of residence, 12 months for the purchase of another main house and the sale of the previous one. (Assolombarda)
  • Confedilizia, a state guarantee is needed for the municipalities for the postponement of local taxes, thus lightening the tax burden on buildings. The hottest front is that of commercial premises: the goal is for the economy to restart, for people to have housing security and for commerce not to die. (All Today)
  • Real estate agencies, with the lockdown for the Coronavirus already canceled 20,000 deeds of sale. Anama requests the possibility to register online purchase contracts and accepted purchase proposals, which is already possible for rental contracts: online registration of preliminaries is required. (Il Mattino)
  • The Tempocasa Group enters into a new commercial agreement with WikiCasa, the main Italian portal that collects real estate ads published only by professionals in the sector. The more than 430 agencies of the well-known franchising will thus be able to take advantage of another important virtual showcase. (WikiCasa)
  • Wondering what will happen to the real estate market once the current health emergency is over is a “useless as well as harmful” question to ask today. This was stated by the President of the Fiaip provincial college of Terni, Luigi Gentile: there are too many non-negligible and currently not definable variables. (Terni in Rete)
  • The reply of a real estate agent to the potential foreign buyer who asks for a 55% discount for a villa in Tuscany makes a sensation. The agency replies “no” in a proud and patriotic way to the request for a maxi-discount for a farmhouse in Pienza, “since Italy is now bankrupt”. (The Nation)
  • In Tempio, in Sardinia, a huge real estate scam was discovered which led to the seizure of 104 buildings worth 14 million euros. In the “Chinese boxes” operation, carried out by the Guardia di Finanza, six people were arrested, who, thanks to false sureties, guaranteed real estate transactions. (La Nuova Sardegna)

Third week:

  • Coronavirus rents emergency throughout Italy: already in March 200 thousand families in difficulty to pay the rent. Among the most affected are precarious workers, off-site students and those who have remained unemployed. The associations invite tenants to negotiate the rent directly with the owners. ( Il Fatto Quotidiano )
  • How the profession of real estate agent will change after Covid-19: WikiCasa.it imagines a scenario of differences in customer targeting and in which the time to devote to the relational process with potential customers will expand. But a myriad of new opportunities will open up. ( WikiCasa )
  • The specter of heavy repercussions on the real estate market hovers over the inevitable crisis resulting from the restrictions for the Covid-19 emergency. The real estate sector, which is incorporated among the “secondary activities” by the Government, risks a dizzying collapse. The opinion of a Campania broker regarding the lockdown. ( Goddess News )
  • The three main trade associations of real estate agents, Anama-Fimaa-Fiaip, ask the Government to resume the activity of real estate agencies: the Interassociative Consultation proposes a protocol of precautionary and safety measures in carrying out the activity, given the centrality of their role. ( ReQuadro )
  • Bnp Paribas real estate Italy, alarms in offices (-50%) and hotels (-80%) in Italy: overall, the first quarter of 2020 recorded investments in commercial real estate for approximately 1.7 billion euros, in line with the first quarter 2019. The logistics sector was excellent (+ 65%) with 225 million. ( ANSA )
  • Covid-19 distorts the ideal home model: after more than a month of lockdown, the housing preferences of Italians change. A study published by Idealista.it explains how before the blockade 34.1% of searches for housing in Italy concerned the provincial capitals, now only 30.9%. ( Online Finance )
  • Coronavirus will act as an accelerator in the medium term for some of the most innovative and alternative segments related to the real estates sector, such as Student Housing, Co-Living, Smart / Coworking and Hostelling. There are many opportunities for investors and managers who will be able to seize them first. ( Online Mortgages )

Fourth week:

  • Gian Battista Baccarini (Fiaip), “after the Coronavirus we start stronger with the real estate agent”: the agencies are ready to restart, more digital, with a good additional training background and in total safety. With the push towards digital, you have found the tools to minimize contact with customers. ( Real Estate Monitor )
  • Real Estate Scenarios, “the real estate market will fly again” : once the emergency is over we will find ourselves in a new world, the recovery will involve the markets and new subjects. The intensive use of space is no longer suited to the times, workplaces need to be rethought on larger surfaces and with innovative services. ( Mark Up )
  • Greener and greener real estate: the energy standards of new properties sold in Italy are improving , as well as those undergoing renovation. In fact, 80% of new homes are class A or B, but in the rest of the transactions (even 70% of total cases), the energy categories are disappointing. ( Rinnovabili.it )
  • Spaziani Testa (Confedilizia), shops, restaurants, and bars at risk, which will struggle even in the restart phase: the Coronavirus pandemic effect immediately had an important economic impact in the real estate sector, made eloquent by the non-payment of d ‘rent. ( Il Sole 24 Ore )
  • CBRE report, slowdown for the Italian commercial real estate market in 2020: the flow of revenues, the weight of fixed costs on total costs and that of short-term debt that is increasing are the three aspects of the business most affected. There are different scenarios that can be assumed based on the reaction of the markets. ( Immobiliare.it )
  • The testimony of a real estate agency in view of the restart of work “in the field” scheduled for May 4 : ready for phase 2, aware that the approach to the profession will be upset to try to live with the virus, adopting the necessary measures to contain the infection. ( Luino News )
  • The technology to support the sales: the lockdown has blocked the activities related to real estate, but there are many who do not want to postpone the purchase. Various solutions allow you to visit properties in virtual reality, obtain evaluations, communicate with chat, video calls and other digital channels. ( Italy Today )

Fifth week:

  • Forced isolation as a containment measure for the Coronavirus makes Italians rediscover the value of the house: according to Alessandra Repetto (Fiaip) the real estate market will emerge strengthened. Home is an important topic, real estate agents are also ready to give psychological help. ( The Press )
  • Milan, the real estate market will not be affected by the effects of Covid-19. To say it is Mario Abbadessa, CEO of Hines: “Nothing changes for us, in a few months everything will be as before. Those who wanted to invest did not flee and the market will hold. Let’s start again from inequalities: we need houses, services and renovations. ” ( Corriere della Sera )
  • Online trend: Consumers across Europe have had to redesign their daily routines as a result of the pandemic, but there are encouraging signs from the hardest-hit sectors, including real estate. In the last week, web visits in the sector have increased in Italy by 11%. ( Online first )
  • Thanks to fintech, first restart tests for real estate. After 45 days of lockdown, with the whole world on its knees, Italy seems to have received the hardest repercussions but real estate can start again thanks to crowdfunding: Walliance campaign in Venice financed in just 11 minutes. ( Forbes )
  • Real estate yields up in the 1st quarter of 2020: all segments grow except commercial, which has remained unchanged compared to 2019. The purchase of a property for investment guarantees a capital gain ranging from 9.9% of shops and 8.2% % of offices, up to 6.7% of homes. ( Teleborsa )
  • The real estate auction market in Italy is slowing down: according to the “Auction Report” by Astasy Srl, in 2019 auctions decreased by 16.5% compared to 2018, with 204,632 transactions concluded and an overall value based on the auction to 28.4 billion euros. Almost 70% of the lots at auction are residential. ( Wall Street Italy )
  • Casavo opens a showcase reserved for real estate agents and is preparing to host free only verified and quality ads proposed by agents selected by the same platform. The showcase is already available for agents operating in Bologna, Florence, Milan, Rome, Turin and Verona. ( Il Sole 24 Ore )

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