Flop for real estate sales, boom for rentals, whose offer, however, is increasingly reduced. The Rovigo real estate market goes against the regional trend.
In Veneto, in fact, bricks are growing in the first quarter of 2024, with an increase in both sales and rental prices, but above all it is demand that performs well in both sectors.
These are some of the findings that have emerged from the regional quarterly Observatory edited by Immobiliare.it Insights, company specializing in big data and market intelligence for the real estate sector of the Immobiliare.it group, the leading real estate portal in Italy.
In the region, people wanting to buy a home increased by almost 20% in one quarter, with prices rising by 1.6% in the same period. At the end of March, buying a property costs an average of 2,183 euros per square meter. Despite such positive demand, however, supply is not reduced, which has actually grown by 2.5 percentage points since the beginning of the year.
The stock of houses on the market is reduced if we look at the rental sector instead. In the first quarter of the year, supply fell by 19.5%, compared to demand that increased by almost 12%, in solid recovery after the decline in the previous quarter. Rents are also starting 2024 on a positive note, +2.2% in the three months, for an average price that reaches 11.5 euros per square meter.
So far the regional picture. In provincial detail, however, if five territories are in line with the regional trend there are two areas that show the minus sign with regards to sales prices: they are the Municipality of Treviso (-0.9%) and, in fact, the province of Rovigo, where the worst data is recorded: -3%. In fact, Polesine itself is the only area in the region where house prices do not reach, on average, one thousand euros per square meterand for this reason it stands out as the cheapest for those who choose to purchase.
Despite the 4.3% increase in the last quarter, Polesine is however the least expensive province, even if the focus shifts to rental prices, with average rents of 7.30 euros per square meter.
Looking at the other market indicators, in the sales sector there is a marked homogeneity in the fluctuations in demand, which rises almost everywhere, while there is more discrepancy between one Venetian area and another if the variations in the offer. In the quarter under analysis, requests decreased only in the province of Rovigo (-3.8%) and in the municipality of Treviso (-0.5%), while the performance of the municipality of Verona (+32.7%), the best in the region, should be mentioned on a positive note.
Moving on to rentsthe vast majority of Veneto territories do not differ from regional trends in the quarter starting 2024. In terms of demand, the best performance is that of the Municipality of Rovigo, which rises by 54.6%. The only negative data are those of the municipality and province of Padua, which lost 19.2% and 1.8% respectively. And if the offer is rising in the municipalities of Belluno, Padua and Vicenza and throughout the province of Padua, here the number of apartments available for rent is dramatically decreasing. Practically, there is no “hole” to be found.
