According to the latest report published by ISTAT (The Italian Statistics Service), the month of September 2013 saw an accelerating decline in prices over the previous quarters -1.2% compared to -0.6% in August.
It also shows a slowdown in the decline on an annual basis to -5.3% from -5.9%. Also according to the ISTAT, real estate prices fell by an average of 20% compared to the years before the crisis; this has to be an average as they do not use specific property cases. Analysts predict that in 2014 the prices will continue to fall, seeing a decrease between 3 and 5%. If this data is accurate, then the sellers’ situation will be well known by buyers who will see that 2014 is a good year for property investment due to the lowering of the spread and the newfound financial stability. This should offer better opportunities for those who want to apply for a mortgage or loan.
Edited by Antonio Maprosti