For Genoa, 2002 was a positive year. After a long period of stasis at decidedly low levels compared to other cities in the North, the growth trend in prices, albeit modest (+ 4-5 percent), is also confirmed in this first part of 2003. Given that it mainly concerns the most residential and sought-after areas, such as Albaro, Quinto, Borgoratti and Genova Quarto. 'Without excluding the historic centre, which is increasingly revalued' specifies Pierluigi Bairo, Fimaa regional president, who adds: 'Everything revolves around second-hand goods and the focus is on redevelopment, which has been giving satisfactory results for 10 years'.
Reverse trend for the level of sales, with clear reductions in all areas of the city due to low supply. 'The market is stabilising, however, we do not foresee price increases for the current semester,' says Gianni Scaccianoce, of Tecnocasa. The most requested type is the three-room apartment with kitchen.
Strong contractions also for the rental market: 'Tenants are now a species in danger of extinction - says Leandro Gatto of the Appc -. The Genoese market is traditionally not very dynamic, as demonstrated by the high number of owners, 80 percent.
However, there is a high level of attention paid to urban planning initiatives, most of which are linked to funding for events in 2004, the year in which Genoa will be the European Capital of Culture. 'Among the various operations, the Municipality is focusing in particular on the new metro station in Castello, the oldest area of Genoa - says the urban planning councilor Bruno Gabrielli - while on the seafront the redevelopment of the neighborhood around the pier is well underway'.
source: Il Sole 24 Ore
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