A real estate market experiencing strong revaluation, characterized by an elite clientele who above all request medium-sized apartments (110 square metres), especially if well exposed and with a terrace. And with good results also for the sales of small restored homes, sought after by investors. After a long period of crisis, operators today agree on the recent appreciation of valuable houses, often real real estate antiques dating back to the 16th century and in quite a few cases even 1,000 years old.
'The majority of customers identify Venice as a holiday residence, a second home - says Mauro Pizzigati, provincial president of Asspi (small owners) -. From this point of view, Venice is a world-class market, frequented by high-end buyers mainly from America and the EU.
'In the second half of last year the market performance was excellent - states the local manager of Gabetti, Stefano Bulli - the increases in sales were even 20% compared to the first half'.
The price trend, however, appears more varied. In general, in the last part of 2002 they maintained the levels of the first half of the year, and then began a slight decline in the first 2 months of 2003. For the first half of this year, decreases of between 2 and 5 percent are expected. 'Establishing the price of a property in Venice is not easy - explains Dino Andreatta, provincial president of Fimaa -. The intrinsic characteristics of the house are very important, starting from the higher or lower floor.
'In 2002 - Bulli points out - we saw average increases of 15% in many cases, with valuable homes that regained a value more corresponding to their quality. Prices in the Grand Canal, for example, after a long period of stagnation, today fluctuate between 8 thousand and 10 thousand euros per metre. Huge and widespread increases which, however, Andreatta points out, 'almost never translated into final prices', as demonstrated by the small but fairly generalized drop in costs compared to those reported by Sole-24 Ore six months ago.
The recovery initiatives promoted by the administration will also be able to positively influence the market. To some already completed, such as the private interventions on the mainland (Mestre and Marghera), for a total of around 200 new accommodations, are added those on the strengthening of tourist accommodation and above all to redevelop Venice as a city on water. 'The recovery of the Giudecca, with initially public funding (start-up of around 12 million euros) is today an intervention which, with the contribution of private individuals, amounts to 65 million euros - says Roberto D'Agostino, municipal planning councilor. With the recovery of the Jungans and Stucky areas and some industrial buildings to be reconverted, we foresee new settlements on the island for 2000 more inhabitants.'
source: Il Sole 24 Ore
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