{"id":21853,"date":"2023-02-07T09:59:33","date_gmt":"2023-02-07T08:59:33","guid":{"rendered":"https:\/\/dev.andersen.dotandmedia.com\/?p=21853"},"modified":"2023-02-07T10:46:36","modified_gmt":"2023-02-07T09:46:36","slug":"real-estate-market-antonio-de-paoli","status":"publish","type":"post","link":"https:\/\/dev.andersen.dotandmedia.com\/en\/real-estate-market-antonio-de-paoli\/","title":{"rendered":"Real estate market: comment by Antonio de Paoli"},"content":{"rendered":"

Italia Oggi<\/strong> analyze the current trend in the Italian real estate market<\/strong>. During the past year, this sector has seen a 20% increase in investments compared to 2021. In fact, EUR 9.7 billion were spent during the first months of 2022. Anyway, in the last quarter there was a sharp slowdown in purchases, mainly due to the geopolitical situation and the related increase in energy costs and rising interest rates. In this situation, there are fears that the conditions that led to the stalemate and the decline in transactions will crystallise, which could lead to a concrete recession.<\/p>\n

In response to this trend, the Italian Pnrr has provided substantial funds to regulate the sustainable real estate industry and to create a synergy between the public and private sectors. Furthermore, it is expected that the infrastructure upgrades envisaged in the National Plan will create the conditions to attract buyers to urban areas far away from the main centers and are currently poorly connected. However, the taxation of this sector is excessively fragmented<\/strong> due to the accumulation of regulations introduced in response to specific needs and maintained over time without a concrete fiscal purpose associated with them. This context makes the role of consultants and professional firms central, who are required to have specific skills in urban planning, construction, finance, and company law.<\/p>\n

The recovery of the real estate market<\/strong> following the pandemic, stimulated by the normalization of rents, was particularly relevant in the hotel sector. Indeed, the Italian territory is constantly attracting tourists, followed by investors’ interest in family-run accommodation facilities that need support to increase the quality of their services. The focus on existing structures and urban regeneration projects is accentuated by rising costs, high purchase prices, inflation, and interest rates.<\/p>\n

Andersen partner Antonio de Paoli<\/strong><\/a>, a lawyer specializing in the field of real estate, commented: ‘as far as real estate sales and transactions are concerned, although the impetus of some significant factors has diminished, such as tax bonuses – decisive for purchases and sales with renovations – and advantageous interest rates, there are still factors that should favor the vitality of the market<\/strong>:<\/p>\n