Tourism continues to suffer as a result of ongoing coronavirus travel restrictions in Italy and across Europe. To get a closer look at holiday home market trends in Italy, the Study Office of the Tecnocasa Group has analysed the trend of property prices in Italian tourist areas in the second half of 2020. Let's see what trends have been identified for properties by the sea, in the mountains and near lakes in Italy.
According to the data reported in this study, in the second half of 2020 the prices of tourist properties in Italy did not experience excessive changes or shocks, neither positive nor negative. In fact, the study shows limited variations: 0.3% price decreases in seaside resorts, a 0.5% increase in mountain resorts, while for areas by Italy's lakes the increase in property prices is 0.3%.
The best performances for the second half of 2020 in Italian seaside resorts were recorded in Marche (+2.1%), Emilia Romagna (+0.5%) and Abruzzo (+0.5%). Latium, Molise, and Veneto remained stable, while Sardinia, Campania and Apulia also held their own (-0.4%).
As for tourist resorts near the lakes, on the other hand, Lake Garda was the driving force, with an increase in values of 0.9%. Lake Lecco, the Brescia side of Lake Garda and Lake Como also performed well, while the interest in buying on Lake Garda by German tourists is confirmed.
Among Italy's mountain resorts, the performance of Abruzzo once again stands out, where house prices are reported to have risen by 5.9%. Average prices of high-altitude properties in Veneto are also growing (+1.4%). Values in the Aosta Valley and Piedmont, on the other hand, are slightly down.
In the second half of 2020, the preferred type of property for those buying a holiday home in Italy was a 3-roomed flat. This typology made up 34.8% of purchases, followed by detached and semi-detached properties with 29%. 2-roomed flats also performed well, accounting for 22.8% of transactions. Compared to a year ago, there has been an increase in the percentage of sales of detached and semi-detached properties, which has risen from 27% to the current 29%.
When it comes to holiday home buyers in Italy, people aged between 45 and 54 (31.3%) are most prominent, followed by those aged between 55 and 64 (26.8%) and between 35 and 44 (21.9%). Couples (50.9%, down from a year ago when they were 54.5%) and families (35.1%) are still buying holiday homes, while the number is much lower for singles at 14%.