Historic center drives real estate market in Palermo, suburbs decline
The historic center of Palermo confirms its status as the “driving and most attractive” area of the real estate market in the capital: a result of interventions that have improved the viability and livability of the areas. The data emerges from a study conducted by the Tecnocasa group, which presented the report to the Chamber of Commerce this morning (June 6). “The data is not alarming at all, on the contrary – explains Roberto Puccio, network consultant for the Tecnocasa group – we have found several confirmations, such as the great appeal of the Liberty and Notarbartolo avenues, and interesting aspects regarding the historic markets of the city, such as Ballarò, Capo, or Vucciria. And specifically the latter in the medium and short term will be very attractive for families who want to live in these areas.”
On the other hand, there are greater contractions for houses in the peripheral areas: “A scenario – continues Puccio – due to the increase in interest rates in 2023, for which many single-income families have suspended or postponed the purchase of properties.” A halt that, on the other hand, has turned into a great opportunity for those who have been able to buy and invest, “finding opportunities and snapping up really interesting prices.”
A decline is also seen in the disbursement of mortgages “due to the sharp increase in interest rates – emphasizes Rosario Pennisi, area manager for Sicily and Calabria at Kiron Partner spa – due to various factors including excessive inflation.” However, Kiron Partner, a credit mediation company of the Tecnocasa group, has managed to avoid contraction thanks to “the wide range of offers we can present to the client, always trying to find the most suitable solution.”
Opportunities are possible thanks to the widespread presence in the city, “which helps to always draw from financially viable clients. Today there has been a decrease in requests from single-income families but the positive aspect is that a decrease in interest rates is looming and therefore families are beginning to approach again. It should be considered that this specific segment has also been kept away by property prices that have not decreased.”
But are more shops or apartments being sold? “Certainly – answers Serafino Biondo, Tecnocasa consultant – the business property market is a more niche sector, so the number of residential sales is always much higher.”
In the video, interviews with: Roberto Puccio, Tecnocasa network consultant; Rosario Pennisi, area manager for Sicily and Calabria at Kiron Partner; Serafino Biondo, Tecnocasa consultant.
A Palermo il centro storico traina il mercato immobiliare, periferie in calo
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