Real estate news | Wikicasa analysis: real estate, today supply and demand do not meet | MonitorImmobiliare

Surface area, number of rooms and price: in real estate, the gap between supply and demand is widening, according to a study carried out by Wikicasa and Century 21 Italia. The analysis examined in detail 8 cities: Milan, Rome, Turin, Bologna, Florence, Naples, Catania, Palermo.

Prices are increasing and home design is changing: people are looking for smaller and smaller properties.
First of all, the square footage: buyers and sellers do not agree on dimensions. If on average, according to the study, those who buy at the start of 2024 are looking for a property of around 118 square meters, with a little more than 3 rooms, those who sell, on the other hand, offer houses with an average size of 127 meters squares distributed over 4 rooms. According to the report, in fact, to a large extent, sellers put on the market during the first months of 2024 mainly three-room apartments or even properties with 5 or more bedrooms. A trend, that of the search for ever smaller houses, which emerges forcefully by isolating the data relating to requests: just think that at the beginning of 2023, those who were looking for a house were moving towards 130 square meters, so that at the end of the same year, requests were for houses with an average surface area of ​​125 m2, falling to 118 m2 at the start of 2024.

Mattia Colantuoni, co-founder of Wikicasa: “The increase in prices is certainly the main cause of this process, but not the only one. We must observe the “nature of demand”: those who buy real estate are motivated by housing or investment reasons. In the first case, the progressive reduction of the family unit, with the reduction in spending capacity, has led to a more fragmented demand, which does not require large-scale solutions. But at the same time, purchases for investment purposes, often linked to the profitability of the property, eclipse the entirely Italian concept of “the house as primary and fundamental space for the family”, leading to a reduction in demand for area.

Litmus test prices.
And price analysis perfectly summarizes this trend which sees buyers and sellers in two opposing positions. According to the study, today those looking for a house intend to spend just under 160 thousand euros, while the average price for those putting a property up for sale reaches almost 230 thousand euros.

Rental, a market in apparent equilibrium.
If supply and demand diverge on the buying and selling front – against nearly 238 thousand sales announcements recorded at the start of 2024 across the entire national territory, the purchase searches recorded during the same period are however just under 30 thousand – the rental market seems in perfect balance. In fact, 22 thousand requests recorded during the first months of 2024 correspond to 23 thousand offers. “An apparent balance – comments Wikicasa – the difficulties of access to credit and a new conception of housing combine with the boom in short-term rentals and have led the rental market to become saturated in a short time, thus becoming the a true 'rare resource'. of the sector”. And here too the data proves it: the houses put on the rental market are on average larger than those sought by potential tenants, 81 square meters of supply compared to 69 of demand. The study of supply and demand shows that owners are mainly putting two-room apartments (7,000 advertisements) and three-room apartments (5,000 advertisements) on the market. Price remains a decisive criterion: those looking are ready to rent in average 700 euros, while owners aim for an average rent of just over 1,000 euros.

Milan and Rome, two cities at odds with each other.
While it is true that Milan remains an attractive city, the analysis shows that the search for houses to buy in the Lombard capital has suffered a clear slowdown. If at the start of 2023 searches amounted to around 1400 at the start of 2024, they reached 1000, down around 30%, and this in the face of an offer which, attracted by the now well-known price rise, in the same period period, offers increased from 4,751 to more than 6,000. And Milan is precisely the city where the asking price and the market supply create a greater gap: owners put on the market properties valued on average at 470 thousand euros, buyers looking for houses with an average price. value of 268 thousand euros. But that's not all, according to the analysis, Milan remains one of the cities where people are looking for the smallest houses, well below the national average: if the average surface area requested in Italy amounts to 118 square meters, in the Lombardy capital, those who wish to buy a house are looking for one of 68 m2.
Rome, on the other hand, seems to be accelerating with a significant increase in purchase requests which went from more than 1,300 at the start of 2023 to 1,800 in 2024 and with an average request in area, much higher than that of Milan, with 89 square meters . meters and with asking prices and a slightly more balanced offer than the Lombard city: it seeks around 260 thousand euros and sells from 340 thousand euros.

Other cities.
What stands out from the analysis is the rental data from Florence, which, in the space of a year, has halved the number of apartments on the rental market, going from 1,200 registered at the start of 2023 to one just over 600 today. But that's not all, the Tuscan capital is also the city where rents are the most expensive: more than 2,300 euros for an average surface area of ​​82 m2, out of an Italian average of 1,000 euros. Florence even beats Milan where rents are around 2000 euros. Naples, on the other hand, is the city, among those examined by the report, where the sale prices of properties remained more stable last year, with slight fluctuations for houses with an average sale value of 260 thousand euros for an average size of almost 100 m2, larger than that of Milan and Rome. In Bologna, from the end of 2023 to today, searches for houses for rent have tripled, reaching almost 900 at the beginning of this year, with average rental prices constantly increasing from 2022 to today, which are around of 1,400 euros.

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