The Real Estate Market Retail Sales
average annual decline of -0.7%. Some of the main cities,
2014 was the turning point for sales recovery in the retail
however, already experimented the much awaited real
market. Its progressive growth reached 28,115 sales in
estate cycle inversion: Milan (+0.8%), Venice (+0.2%)
2017, with a 6.9% increase on 2016.
and Florence (+0.1%) recorded a positive outcome for
In the 8 main Italian cities, sales increased by 11.7% on
the first time since 2008. Gross average yields remain
an annual basis with 5,968 sold units, that is 23.7% of
stable. Venice shows the best performance with yields of
the total sold stock in Italy. It is worth noting Milan’s
about 8% in prime central locations and 7% in secondary
good performance: with 1,602 sales, it recorded a 16.6%
locations in the semi-center. Rome follows with 7.1% in
increase on an annual basis. Also relevant is Turin’s result
prime central locations and 7.5% in semi-central areas.
(+22%).
Florence varies between 6.6% of the semi-central areas to
In 2017, the value of total sales was €5.9 billion. Indeed,
7% of the central areas. Milan has lower yields, with 6.2%
in the post-crisis years, the sector lost almost half of
average in the city center and 7% in the semi-central area.
its turnover which, in 2008, amounted to €10.5 billion. According to Italian Revenue Agency data, the average sold surface in Italy amounts to 127 sqm. Prices, fees and yields In 2018 H1 prices kept dropping (-1.1% on an annual basis), following the downward trend which began in 2008 with the beginning of the crisis. According to Nomisma, prices will not increase before 2020. Within this framework, there is an exception: Milan. Here, the average annual change amounted to 1.0%. Rome, on the other hand, in line with the trend of major markets, closed the semester with a 1.3%. Fees seem to follow the same trend as prices, with an
Retail – Sales Number (2008-2017) Source: Nomisma elaboration on Italian Revenue Agency data 20
Retail - Sales in Cities With a Population of More than 250,000 People (2017) Source: Nomisma elaboration on Italian Revenue Agency data
Retail - Turnover and Sold Surface Source: Nomisma elaboration on Italian Revenue Agency data