Sales rebound in Siena and Massa; a recovery of prices in the provinces of Massa Carrara and Lucca which, along with Grosseto, confirms itself as the most expensive [area] in the region, due to the luxury properties designated as secondary residences. These are the indications that emerge from the Centro Studi Casa.it [Research Center] – one of the main residential real estate portals in Italy – that summarizes the residential market in Tuscany during 2013, and then delves deeper into the market trends in the main residential centers.
Comprehensively, during 2013 we witnessed a “partial stabilization of the real estate market in Tuscany, beginning with the main residential district [province capitals] – explained Casa.it managing director Daniele Mancini – It is encouraging to see that the market is finding solidity after a phase of real free fall.”
The best news, based on the report’s data, come from the province, both in terms of the number of operations and of prices. According to the Agenzia dell’Entrate [Revenue Services Agency], the city of Massa experienced a rebound in sales (+26.6%) in 2013, showing a good vivacity in the market. The same holds for Siena (+23%) and Lucca. In terms of provinces, only Massa Carrara registered an increase: nearly 5% compared to 2012.
As for sale prices, quotations are generally decreasing, with a few positive exceptions: at the level of provinces, Massa Carrara recorded a 2.2% increase, and Lucca increased by 2%; at the city level, the Agenzia delle Entrate data indicate a 5.8% increase for Grosseto.
The Casa.it survey also lingers on the first trends for quotations and demands in the major Tuscan cities for 2014. In Florence, the key market price, that is to say “the ideal meeting point to close the deal” is of 4,000 Euros per square meter, and buyer requests are for three-bedrooms and homes of even larger dimensions. In Siena, where the KMP is of 3,600 Euros per square meter, the demand centers around two- and three-bedrooms. There is a similar typology of requests in Massa (the KMP is at 3,200). The demand decidedly shifts towards larder properties in Arezzo and Lucca, where the “ideal” price for closing the transaction is identified at 2,100 and 2,200 Euros per square meter, respectively.
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