After the reopening of activities in May, the prestigious homes market gradually began to show positive signs. In particular, the greatest recovery occurred from mid-September, since in the summer months – despite a certain level of activity following the hard lockdown in March and April – remote working and stays in holiday homes actually reduced the presence of people and therefore demand, mainly in the larger cities. Conversely, the soft lockdown at the end of October and in November had a relatively lower impact on the trend in sales transactions.
With regard to prices, slight declines were observed in Milan (-0.5%) and Turin (-0.7%). Larger declines were recorded in Rome (-2%) and Genoa (-1.9%) and stability in Florence and Naples.
Average sale times were around 5-6 months in Milan, 7 in Genoa, 4-5 in Turin, 6 months in Florence, 8 in Naples and 9 months in Rome.
Discounts upon closing of negotiations were around 10% for Milan and Genoa; slightly lower in Turin (7-8%) and higher in Naples (13%), Florence (12%) and Rome (12%).