Brick prices are increasing in Piedmont: here is the most expensive city to buy a house – Prima Novara

The Piedmont real estate market is growing in the first quarter of 2024, with price increases for both sales and rentals and growing demand in both sectors. This is what the Quarterly Real Estate Market Observatory of Immobiliare.it underlines.

The data

Insights, a company of the Immobiliare.it group, the leading real estate portal in Italy, specialized in big data and market intelligence for the real estate sector. Those who want to buy a house in Piedmont today have to spend on average 1,523 euros per square meter, +3.6% compared to the previous quarter, while to rent it you need 9 euros per square meter on average, + 1.6% in the first three months of this year.
Shifting attention to the other main market indicators, between January and March 2024, the demand for properties is doing well, both for rental (+8.9%) and, above all, for sale (+17.9 %). However, available stock increases in the sales sector (+4.5%) while it decreases by 3.6% in the rental sector.

The most expensive municipality

The municipality of Verbania it is the most expensive in Piedmont regarding the price of houses for sale: here the brick costs on average nearly 2,400 euros/m2, after the increase of 6.4% in the last quarter, a figure more than 400 euros higher than that of Turin. The province of Biella, however, confirms itself as the cheapest area in the entire region to buy a house, with an average of 573 euros/m2.

Broadening our view to all the other Piedmontese territories, we see a general increase in prices in the last quarter both for sales and for rentals, with the sole exception of rentals in the municipality and province of Vercelli, which respectively lost 1, 3 and 1.9%.
The demand for houses for sale also increases almost everywhere between January and March 2024. In addition to Turin, the municipality of Verbania is doing very well (+22.6%), while the only area to show a decrease is the municipality of Novara, precisely equal to -2.6%. For rents, interest increased in the vast majority of territories during the quarter, although a few exceptions appeared: in fact, the municipalities of Novara and Vercelli and their respective provinces decreased, as did the municipality of Cuneo.

Let's move on to the offer, in the sales sector, faced with a generalized accumulation of available stock in the territories, especially the municipality of Cuneo, which increases by almost 21%, there are 5 areas which show a contraction in the first quarter 2024: these are the municipality and province of Asti, the municipality of Vercelli and the provinces of Alexandria and Verbano-Cusio-Ossola.
However, the municipality of Alexandria and the province of Biella remain stable.
Concerning the rental offer, we observe a fairly marked contrast between territories which go up and others which go down in the first quarter of the year. Among those whose rental stock is growing, the province of Vercelli especially stands out (+37.7%). The most significant drop occurs in the province of Asti (-50%).
To consult the Observatory's tables relating to the sales and rental market, please read the attachments provided in PDF format and which can be used freely.

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