The Turin real estate market is gasping, a trend in line with the rest of the country. According to data released by the Gabetti Research Officethe Piedmontese capital collected 14,883 sales in 2023, with a contraction by 7.8% compared to the previous year.
Prices, however, showed a stable trend with prices recording an average of -0.6% compared to 2022. As far as sales times are concerned, the average remains the same about 3 months, with discounts at the closing of negotiations of around 14%. What if the increase in interest rates on mortgages has penalized the sector, in addition to greater difficulty in accessing credit and inflation, it should however be underlined that 2023 was the third best year since 2014 (-64%) to date.
But how much are our homes worth? What are the differences between the various neighborhoods? Let’s start from the center, where prices on average stand at €3,140/m2. For particular valuable solutions the values can even reach 6,500, while for properties to be renovated the maximum value is 4,500 euros per square metre. There Cross runs on an average around €2800/m2, while San Secondo drops to €1,800/m2. TO Vanchiglia and Vanchiglietta prices are growing and stand at around €2,010/m2. On the other hand, the values of Aurora are stable (1,450 euros per m2) which drop slightly when you move inside Milan barriersettling at around 1,200 euros per square meter for used goods in good condition.
In Zone San Donato, Campidoglio and Valdocco we are around 1,610 euros per square meter, while the area Cit Turin flies and reaches 2,550 euros per square meter. Cenisia and San Paolo they travel hand in hand, with values ranging from 1,650 to 1,750 euros per square meter. In Zone San Salvario instead, which includes Corso Vittorio, Via Nizza, Via Dante and Parco del Valentino, we are around 2,270 euros per square meter, a figure that can even reach 3,600 euros for elegant solutions in excellent condition.
In the south-west suburbs, in the area Parella, stable values are recorded which are around 1,250 euros per m2, while in Pozzo Strada we are around 1,600 euros. In the Santa Rita area there are rising prices, between 1,650 euros and 2,000 euros per m2, which drop to 1,200 in the Mirafiori area. Finally, the hilly Oltrepo maintains a good demand for high-level solutions, with values in the areas Gran Madre, Monte dei Cappuccini and Crimea which reach 2,600 euros per square meter on average. But there is no shortage of more expensive cases: stately properties can even reach 3,500 euros, with a further surge up to 4,400 euros for homes in excellent condition.
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