Astaqui.ita real estate auction franchise specializing in assisting investors, has just released its “Auction Observatory 2024”. This is a report with a specific focus on Italian regional capitals, from which a sector in turmoil emerges. The study also analyzes the economic and demographic dynamics that influence the real estate auction market. Let’s discover the picture that emerges.
Astaqui.it is a franchise specialized in the real estate auction sector, specialized in providing services and consultancy related to the purchase of properties through judicial auctions. Through the 2024 Auction Observatory, it aims to provide a comprehensive and detailed overview of residential auctions in the regional capitals.
Data by capital
The ranking of residential properties up for auction in Italian regional capitals, according to data collected by Astequi.it in May 2024, shows a varied panorama. The numbers, in fact, reflect the economic and social differences between the various cities: Rome And Turin emerge as the most active markets, with 3,827 and 3,628 properties up for auction respectively.
This high number may be indicative of both greater volatility of the real estate market in these areas, and a greater volume of available properties. On the contrary, cities such as Aosta and Trento show much smaller numbers (28 and 141 respectively), suggesting a more stable real estate market or less subject to economic fluctuations that lead to real estate foreclosures.
Naples and Palermowith 3,137 and 2,514 auctions respectively, are also positioned among the cities with a high frequency of auctions, perhaps underlining greater economic difficulties or a greater incidence of properties changing hands through auctions. Milandespite its reputation as an economic metropolis, records an intermediate number of 2,166 auctions, positioning itself significantly but not at the levels of Rome or Turin.
This data, processed on the basis of data available on the Pvp Justice website, offer an important window into the dynamics of the residential real estate market in Italy, revealing how regional factors can significantly influence auction activity. They suggest opportunities for investors looking for potentially undervalued markets or show where the market is more competitive and potentially riskier.
The situation depending on the context
By analyzing the data relating to properties up for auction in May 2024 and integrating demographic and economic information, emerge significant correlations between the number of properties at auction and the socio-economic performance of the various Italian regions. Starting from the demographic aspect, the report highlights that Italy is experiencing a decrease in population, expected to fall to 58.1 million by 2030 from 59 million in 2022.
This demographic declinemore pronounced in some regions than others, can directly influence the real estate market, especially in less populated areas where demand for properties could decrease, increasing the number of auctions.
As regards theeconomic impact, Southern Italy shows a higher rate of NEETs (young people who do not study or work), which can negatively affect the local economy, reducing purchasing power and increasing the number of real estate auctions. Regions like Campania and Sicily, with high rates of youth unemployment, tend to see more properties go up for auction.
Regional disparities in income and economic opportunities are marked, with Northern Italy generally having a higher per capita income and better job opportunities than the South. This is reflected in the number of properties up for auction, with cities such as Milan which, despite a high population and a strong economy, show intermediate numbers of auctions compared to cities with more marked economic difficulties such as Naples and Palermo.
In summary, the analysis of the real estate auction market offers a lens through which to observe the economic and demographic challenges of the different Italian regions. The regions with more serious economic problemsoften exacerbated by population decline, tend to show a greater number of properties at auctionhighlighting potential areas of intervention for economic support and real estate revitalization policies.
By analyzing the data of the first three cities in the ranking for the number of properties up for auction in May 2024 – Rome, Turin and Naples – it is possible to identify some justifications for these high numbers:
- Rome (3,827 auctions): As the capital of Italy, it presents a unique conjunction of factors that may explain the high number of auctions. The city has a high population and a large concentration of real estate, which increases the likelihood of real estate enforcement proceedings. Furthermore, the capital may suffer from greater economic volatility, which is reflected in the real estate sector.
- Turin (3,628 auctions): The Piedmontese capital is an important industrial and historical center and has experienced significant economic transformations in recent decades. Industrial restructuring and changing labor markets may have led to economic hardship for many residents, culminating in a high number of property auctions.
- Naples (3,137 auctions): Located in southern Italy, it is often associated with greater economic challenges than the north of the country. Persistent problems such as high unemployment rates, fewer stable job opportunities and low incomes contribute to a higher frequency of real estate auctions.
Second Luciano Vasciminno, President of the Astaqui.it Franchising: “The real estate auction market in Italian regional capitals is in turmoil. Economic and demographic dynamics profoundly influence this market. Rome and Turin, with their high numbers of properties up for auction, clearly show that the large metropolises are more subject to fluctuations in the real estate market.
In contrast, cities such as Naples and Palermo, with high auction rates, reflect the economic difficulties of Southern Italy. However, these areas also represent opportunities for investors, thanks to competitive property prices. At Astaqui.it, we are committed to supporting customers in this complex context, providing tools and advice to effectively navigate the auction market. Our goal is to make the process more accessible and transparent, allowing informed and strategic decisions.”
