Real Estate news of the week in Italy (5-11 June)

Brainsre compiles below the weekly news highlights.

Market – Real estate enforcement cases in the courts, closing times increased to 4.97 years in 2022 compared to 4.69 in 2021

• The management of real estate execution cases in Italian courts continues to be lengthy, even after the full resumption of activities following the pandemic.
• The average duration for closing procedures in 2022 was 4.97 years, similar to the previous year, indicating a persistent trend of extended timelines.
• Despite the prolonged duration, the number of closed procedures is increasing, with a 10% rise in cases resulting in actual property adjudication in 2022 compared to the previous year.

Auctions – Real estate auctions, volumes drop by 18% in the first four months of 2023 compared to the first four months of 2022

• Real estate auction procedures in Italy have long durations, averaging around 4.97 years for closure in 2022, despite the resumption of full activities after the pandemic-induced lockdown.
• The number of closed procedures has increased, with 49,615 cases concluded in 2022, a 10% increase compared to 2021. Around 51% of procedures resulted in property adjudication.
• There are regional variations in the duration and value of auctioned properties, with Emilia-Romagna having the highest average starting value at around 317,000 euros, while Valle d’Aosta and Molise have the lowest average values at 103,000 euros.