Brainsre compiles below the weekly news highlights.
- 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.
- 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.