Naples real estate market is resisting the crisis thanks to luxury real estate

Naples real estate market is resisting the crisis thanks to luxury real estate

Despite the fact that the real estate market in Italy is in crisis, luxury real estate sector saves it from the total failure. Purchases and sales of properties with prices that contain a lot of zeros help counter the serious difficulty and keep alive the real estate sector, which is in the stage of stagnation.

This assumption is valid at the international level; in addition, it is confirmed in southern Italy. A recent conference, organized by the Chamber of Commerce of Naples together with other associations of real estate, was about the real estate market in Naples.

Sales of large apartments and luxury properties in the most exclusive areas of Naples (Pozilippo, Vomero, Chiaia) remained at the same level, despite a drop in sales and construction of new buildings by 40% over the past five years. A similar situation existed in the property market on the Sorrento coast without decrease in prices.

It is clear that representative of the middle class, which is most affected by the crisis, can’t buy expensive real estate. For the average family is becoming increasingly difficult to buy a house, so in Naples interest in renting houses is increasing. Rental market has a positive trend: the decline in sales occurs at the same time with a 20% increase in the number of leased property, which is characterized by decreasing the size of tariffs.