The Sardinian real estate market is traveling at two different speeds at the beginning of 2024, with sales prices growing slightly (+1.2%) between January and March, in the face of skyrocketing rents (+11.1%). This is the photograph taken byQuarterly observatory by Immobiliare.it .
Buying a property in Sardinia today costs 2,172 euros per square meter on average, while to rent it they are needed on average 14 euros/m2.
As regards supply and demand, both indicators are growing in the sales sector. In particular, in the quarter under analysis the purchase request increased by11.8%while the accumulation of stocks is equal to +8.1%. The same trend is also highlighted if we look at the rental market, with the availability of homes growing by 7.5% despite an almost equal increase in demand (+7.2%).
As in the previous quarter, Cagliari it is the most expensive city with its people 2,450 euros/m2 on average, increasing by 2% between January and March 2024. However, the most expensive Sardinian territory is the province of Sassari which, despite a slight contraction in prices equal to 0.3% – only minus sign in the region in the 3 months – almost i 2,700 euros/m2 medium. The municipality in Southern Sardinia however, it remains the cheapest on the island, as well as the only one to remain below 1,000 euros/m2 (859 euros/m2), despite rising by 3.7% in the first quarter of the year.
Moving on to the demand and supply of sales, there is practically no contraction in the Sardinian territories, which reflects a trend in line with the regional average. As far as demand is concerned, the important increases in the price should be highlighted municipality of Oristano (+59%) and that of South Sardinia (+29.7%)while at the level of available stock the province of Nuoro grows more significantly than all other areas (+29.5%). The only negative value is the one relating to demand in province of Oristano (-1.3% in the quarter).
Even in the rental sector Cagliari it is the most expensive city, with rents reaching, at the end of March, about 12.7 euros/m2 on average. However, prices have dropped by1.6% in the last quarter. The capital is only one of the two Sardinian territories to record a contraction in costs in the period analysed, together with municipality of SassariThat loses almost 8%. All the other areas instead follow the growing trend of the island, even if the municipality of Oristano remains almost stable (+0.1%).
As regards supply and demand for rentals, despite the growing trend for both sectors in the region, in the first quarter of 2024 there are also some negative signs in specific areas. In fact, the demand for rent drops both in the province of Nuoro that in municipality of Oristanowhile there is a depletion of available stock in common and in province of Cagliarias well as in municipality of Oristano and in the province of South Sardinia.
Tags: Sardinia Real Estate sales prices growing rents soaring
