After the post-covid boom, the beach house market returns to balance. Last year, prices settled at the same values as the year before. The only exception was the lake houses which recorded a downward reduction in values of 0.3%. This is what emerged from the analysis conducted by the research office of Tecnocasa according to which prices on Lake Garda fell by 0.4% while on Lake Como they rose by 1.9% with a good performance for the Como side (+5.5%) while the Lecco side slowed down (- 0.4%). Lake Iseo also showed little change (+0.6%) while the localities on the lakes of Lazio showed less stability with house values down by 4.2% in the municipalities on Lake Bracciano and by 5.7% in those of Lake Bolsena.
And what about the sea? According to Tecnocasa, seaside resorts closed on average with an increase of 0.5%. Some Adriatic regions such as Abruzzo (+1.7%), Molise (+6.9%) did well. Good performance also for Veneto (+2.4%), Sardinia (+2.1%) and Calabria (+1.7%). Puglia (-2.0%) and Sicily (-1.2%) saw a slight decline.
“The component of foreign buyers, who have always been attracted by the beauty of the country, is very significant, which in 2023 amounted to 13.5% (in 2019 they were 10.7%)”, explains Fabiana Megliola, head of the Tecnocasa Group Research Office according to which at the end of 2023 and beginning of 2024 the effects of the war conflict and the brake on the German economy were felt.
Another aspect that has influenced the holiday home market is represented by the connections between large cities and tourist resorts as well as the strengthening of infrastructure in the latter.
“The speed and convenience of connections is a key element for the tourist market. Easily reaching tourist locations via the railway network has led to an increase in holiday home purchases in the Adriatic regions, which went from 9.6% in 2019 to 11.9% in 2023″, continues Megliola.
In terms of infrastructure, the cycle path which affects many tourist locations still remains a valid attraction. The most famous ones are the cycle path of Lake Garda, that of the Imperia coast of Liguria built on the former railway site without forgetting the one that involves the hinterland of Savona and the other that will involve the Veneto with Jesolo. In the latter location there is also anticipation for the construction of the future Jesolo motorway exit, along the A4 which will be able to help reduce traffic and make the town itself more attractive.
EVERYONE IS CRAZY ABOUT THE THREE-ROOM APARTMENT
But what are the most purchased types of houses? The most sought after is the three-room apartment with 32.5% of sales, followed by independent and semi-independent solutions with 28.2% of choices. Two-room apartments also performed well, representing 24.4% of transactions. Compared to a year ago, a slight decrease in the percentage of sales of independent solutions (from 29.4% to 28.2%) and an increase in that of three-room apartments (from 30.3% to 32.5%).
DEMAND DRIVEN BY THE OVER 45S
Those who buy holiday homes are mainly people aged between 45 and 54 and between 55 and 64 (with 26.1 and 26.5% respectively). “Compared to the previous year we have recorded an increase in the average age of buyers”, Tecnocasa reports. “In 2022, in fact, the group between 45 and 54 years made up 31.5% of buyers”. The percentage of those purchasing in the younger range, under 34 years of age, increased slightly, going from 5.7% to 7.0%. While the percentage of purchases over 64 years old rose from 16% to 18.6%.
In most cases, holiday home purchases are concluded without the aid of a mortgage (87.9% in 2023). Only 12.1% of sales were supported when taking out a mortgage, this is the lowest percentage recorded in recent years.
