Florence, 13 June 2024 – The residential and Tuscan market has anything but shone in 2023. I interest rates too high, the limited budgets available to families, the general uncertainty due to wars, the heavy tax burden that weighs on homeowners, but also the squeeze on airbnbs have stopped those who intended to buy a property.
2024, however, could go better, starting from the fact that i mortgage rates they are today below 3%, compared to the 2023 average, reported by Bankitalia for Tuscany, of 3.28%.
According to estimates by Facile.it, which are based on an average mortgage of 126 thousand euros to be repaid over 25 years, the installment could drop within a year from the current 747 euros to 692 euros. In fact, it would drop by 37 euros by the end of 2024 and 55 euros by June 2025.
«In light of these data, the advice for those who do not want to wait for the decline is evaluate a subrogation: the conditions present on the market today are favorable and it is possible to move from variable to fixed obtaining a better rate”, explain the experts at Facile.it.
According to the analysis by Facile.it and Mutui.it, in the first four months of 2024 in Tuscany the request for financing has increased by 18% compared to the same period in 2023. The average amount requested also grew slightly again, reaching 134,645 eurosup by almost 1%, and the average value of mortgaged properties (217,058 euros, +2%).
They are also growing subrogation requestsdriven by the favorable conditions offered by banks for fixed rates: between January and April 2024 this type of request represented almost 30% of the Tuscan total, increasing by almost 10 percentage points compared to the same period of the previous year.
The trend of sales in the Tuscan capital
In 2023 the number of residential real estate transactions in Florence recorded a decline of almost 13% compared to 2022.
This is in the face of prices that have remained almost stable. In fact, according to what emerges from the findings of theGabetti research officein the second half of 2023, compared to the same period of 2022, the decline was -0.5%.
The average sales times were around at 5 monthswhile they remain longer in the case of prices not aligned with market prices and for unattractive solutions linked to context, view, floor and intrinsic characteristics. The discounts at the closing of the negotiations they stood at an average of 7%.
«In 2023 Florence recorded a decline in residential sales, attributable not only to high interest rates, but also to the policies launched by the municipal administration aimed at combating the phenomenon of short-term rentals – he declares Riccardo Maccolini, Relationship Manager Tuscany of the Gabetti Group. – These measures have indeed slowed down the purchase of homes for the purpose of investmenta particularly widespread type of purchase in the historic center, which in recent years has fueled the business of apartments for short-term rentals.”
Outside the center, the preferred areas appear Rifredi and Statute and generally the suburbs north of the city. The types most requested by families are three-room and four-room apartments with outdoor spaces and parking space. The area of the first hill of Fiesole is also of particular interest, where there has been an increase in prices despite a limited offer.
As for the prices. excluding the particular valuable solutions in the Duomo and Santa Croce areas, the values are increasing, with an average of approximately 4,500 – 5,580 euros per square meter respectively for civil and elegant solutions in good condition. For the same typologies we are at 4,200 – 4,900 euros per square meter Saint Ambroseat 4,400 – 4,800 euros in the San Marco and San Gallo areas and at 4,400 – 4,800 euros in Santo Spirito and San Niccolò, maintaining a growth trend.
Quotation around 3,750 euros per square meter for civil properties in good condition in the area Mazzini – Masaccio – Oberdan – Beccaria and Libertà, where there is also an offer of more prestigious properties, which stands at an average of 4,800 euros per square meter. In Zone Statute and Field of Mars they range from 2,900 – 2,800 euros for the medium typology to 3,330 – 3,950 euros for elegant solutions in good condition.
