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We have heard many predictions and opinions on the "crisis". Sometimes it seems that what the experts say about finance does not have much to do with the real situation. Without a shadow of a doubt, at times if you look at things closely you discover and understand the interesting things that go unnoticed from a "theoretical" viewpoint.
For months now there has been talk of "crisis", and we have heard numerous predictions and opinions. Sometimes it seems that what the experts say about finance does not have much to do with the real situation. Without a shadow of a doubt, at times if you look at things closely you discover and understand the interesting things that go unnoticed from a "theoretical" viewpoint.
Some property data taken from newspapers and television: in the USA in October 2008 there was a decline in property sales of around 5% in comparison with October 2007 (which signifies approximately a 60% drop over twelve months), despite prices being lowered by 15% in the space of a year. Closer to home, in France, the annual decline in property sales was 44%. In Italy the situation is similar, with many reports pointing out that the price of homes is falling slightly everywhere, with a decrease over the past year of almost 13%. It can be seen that property sales have fallen drastically in city centres, while they have increased in suburban and residential areas of large urban centres. In provincial areas, such as Valdarno, there has indeed a sharp drop in demand while supply remains high, but it is interesting to note that even within the same geographical area some developments have a lot of interest while other are almost completely neglected. This is to say, in short, that you can not represent the reality of the situation if you only make superficial generalizations.
People wanting to buy a property today are much more "evolved" and usually more careful because they know something about the financial and fiscal mechanisms involved, and they want to consider what they are buying carefully. When they are not able to judge the product on offer, they resort to expert advice from professionals who they trust. So clearly, while on one hand there is a decline in the property market, on the other we can perceive the need for greater competence in order to satisfy the people who are moving in the housing market, possibly for the first time.
In recent years the press and media in general have been particularly concerned with "bricks" as an investment, as a refuge, as inheritance for the family, as a symbol of an Italy who had lost confidence in liquid savings in favour of investment in durable goods.
One can say that this was a sociological phenomenon, a mask. The laborious conquest of a value. The principles that moved this race to buy a house have remained unchanged; the one that has suffered a severe blow is the ability to purchase. Above all, as we see it, the market has been "tarnished" by too much speculation in the construction and financial markets, and this has severely damaged consumer confidence. This would explain why in a period of general crisis there are still people who can manage to sell and satisfy customers, perhaps partly sacrificing their profit margins, investing in quality - which is always expensive for a company - negotiating with banks and notaries for fixed costs, improving the exchange of communication with the local community and local administrators. The housing industry needs to have a general rethink of how business is done.
Some property data taken from newspapers and television: in the USA in October 2008 there was a decline in property sales of around 5% in comparison with October 2007 (which signifies approximately a 60% drop over twelve months), despite prices being lowered by 15% in the space of a year. Closer to home, in France, the annual decline in property sales was 44%. In Italy the situation is similar, with many reports pointing out that the price of homes is falling slightly everywhere, with a decrease over the past year of almost 13%. It can be seen that property sales have fallen drastically in city centres, while they have increased in suburban and residential areas of large urban centres. In provincial areas, such as Valdarno, there has indeed a sharp drop in demand while supply remains high, but it is interesting to note that even within the same geographical area some developments have a lot of interest while other are almost completely neglected. This is to say, in short, that you can not represent the reality of the situation if you only make superficial generalizations.
People wanting to buy a property today are much more "evolved" and usually more careful because they know something about the financial and fiscal mechanisms involved, and they want to consider what they are buying carefully. When they are not able to judge the product on offer, they resort to expert advice from professionals who they trust. So clearly, while on one hand there is a decline in the property market, on the other we can perceive the need for greater competence in order to satisfy the people who are moving in the housing market, possibly for the first time.
In recent years the press and media in general have been particularly concerned with "bricks" as an investment, as a refuge, as inheritance for the family, as a symbol of an Italy who had lost confidence in liquid savings in favour of investment in durable goods.
One can say that this was a sociological phenomenon, a mask. The laborious conquest of a value. The principles that moved this race to buy a house have remained unchanged; the one that has suffered a severe blow is the ability to purchase. Above all, as we see it, the market has been "tarnished" by too much speculation in the construction and financial markets, and this has severely damaged consumer confidence. This would explain why in a period of general crisis there are still people who can manage to sell and satisfy customers, perhaps partly sacrificing their profit margins, investing in quality - which is always expensive for a company - negotiating with banks and notaries for fixed costs, improving the exchange of communication with the local community and local administrators. The housing industry needs to have a general rethink of how business is done.
