Market Report Venice 2017
Main Photo Credit: @ injenia.it/google-partner-venezia
Index Italian Real Estate Market in 2016 and forecasts for 2017 Venice’s Real Estate Market in 2016 and forecasts for 2017
2
Venice’s districts or “Sestieri”
6
The Network Engel & Völkers Data of 2016 and forecasts for 2017 Engel & Völkers in Italy Engel & Völkers worldwide
Venice
3
10
11 12
Italian Real Estate Market in 2016 and forecasts for 2017 With this second edition of the Market Report 2017 for the City of Venice, we intend to set up an annual analysis that will keep monitored the dynamics of the Venetian residential market, with particular regard to the dynamics of 2016 and its forecast for 2017. By the day of ‘ today it is increasingly important to rely on real estate professionists and experts who can evaluate your property with a high and detailed knowledge of the market. Investing in a residential property, both for private use and as investment property, is still considered a very reliable operation. Venice, being one of the most interesting and visited cities in the world, has many advantages from the point of view of the investment. In this sense, the idea of buying a property in Venice is a great strategy. The figures exposed by the Osservatorio del Mercato Immobiliare dell’Agenzia delle Entrate (Observatory of the Real Estate Market of the Revenue Agency) show that the residential sales in Italy in 2016 have been in total 528.865 (Table 1), highlighting the growth of the sales of more than 18,9% compared to the same period of 2015. the Italian real estate market therefore continues to grow at positive rates. It did not happen since 2011 that the number of real estate sales in the residential and service industry sectors surpassed the million units per year. The residential sector recorded a higher variation than the rest of the other real estate markets. On the issue of mortgages, the increase in disbursements clearly exemplifies the change in orientation and the partial restoration of a competitive logic between the institutes left unhurt by the long recessive phase - for the society of economic studies in Bologna “Nomisma”. Specifically in 2016, they were disbursed for 49.3 billion (Nomisma estimate) and the forecasts for the current year amount to a total of 52.1 billion. For 2018 the difference from the previous year is virtually nothing (52.1), while for 2019 the growth in disbursements is estimated to be more intense (approx. 55 billion).
Forecasts for 2017 In the first three months of 2017 the residential sales in the Italian real estate market confirmed an increase of +8,6%. z It is supported by the real estate sales statistics for January-March 2017, developed by the Osservatorio del Mercato Immobiliare dell’Agenzia delle Entrate. In the first quarter of this year, the number of sold residential properties was 122,000, almost 10,000 more than in the same period of 2016, with a significative growth for comparable quarters, similar to the one registered before the steep fall of 2012. In 2017, an increase is expected up to 565,391 transactions: a figure which, according to forecasts, should continue to grow in the next two years, in order to reach 616,513 transactions in 2019. For the Nomisma Institute, “the composition of demand reveals not only the ongoing investment component, but also the exposure of the sub-fund to the banks’ choices and, more generally, to the realization of the growth expectations of the country.”
Source: Data OMI (Osservatorio del Mercato Immobiliare)
1. Number of buy and sell of real estate in Italy 2016 NST*
II trim 2016
III trim 2016
IV trim 2016
2016
Forecasts 2017
Residenzial
143.298
123.476
146.896
528.865
565.391
Service industry
161.610
141.989
179.245
612.147
-
Total
304.908
265.465
326.141
1.141.012
-
Var %
II trim 2016
III trim 2016
IV trim 2016
2016
Forecasts 2017
+23,0%
+17,5%
+16,4%
+18,9%
+6,91%
Residenzial
2
Table 1 - trimestral NST and annual variation % of italian real estate market Source: Osservatorio del Mercato Immobiliare dell’Agenzia delle Entrate (Observatory of the Real Estate Market - Revenue Agency) *NST: number of standardized transactions
Venice’s Real Estate Market and forecasts for 2017 The city of Venice Venice is considered one of the most beautiful and popular cities in the world with its artistic treasures and its practical site in the north-east of Italy. The majority of Venice’s land mass spans over 118 islands in the Venetian Lagoon, while the rest is found on the adjoining mainland. Venice main “island” is linked to the mainland through a bridge and a railway. The historical center of Venice includes the famous Piazza San Marco and is crossed by numerous canals. The lagoon settlements, from which in ancient times the city of Venice was born, were built on millions of wooden posts driven into the ground until they reach the “caranto” layer (compact layer of clay and sand). The buildings themselves are constructed with clay bricks, which actually are almost “floating” on the ground. Tourism is without doubts the largest industry in Venice. In 2015, Venice was the third city in Italy for tourist attendance in accommodation facilities, with a figure of 10,182 million, exceeded only by Rome (with 24,8 million attendance) and Milan (11,741 million). (Source: Coses - dati 2015).
N. residences 35.657 (2001)
2. Main data of the city ItalY
VenICE
7,5
12,5
Population density (inhab/kmq)
189,10
657
Old age index
131,38
227,88
Couples with children
57,49
49,50
Foreigners/ 100 residents
Average n. rooms
4,07
4,09
Sqm for occupant
38,79
38,19
Table 2: The main data of the city, based on Istat values, regarding buildings and people in January 2016. Source: ISTAT - Elaborazione TUTTITALIA.IT
The most desirable locations The most desirable residential addresses are located in the center. The top addresses are along the Grand Canal, the largest of all canals, which forms the main waterway through Venezia. Apartments on the upper levels of buildings lining the Grand Canal, with views both of the waterfront and famous historic buildings, command the highest prices. Restored high floors apartments on the Grand Canal facing the famous Rialto Bridge, can reach average prices around 12,000 €/m², with rare and exceptional cases up to 20,000 €/m², Palatial, Venetian-style townhouses on the Grand Canal, known as “palazzi”, are always sold with top prices. Also the adjacent properties to the famous Piazza San Marco which is located at the end of the Grand Canal on the south shore of Venice have some of the highest prices per square meter in the city. The most requested features are terraces, vicinity to historic buildings and monuments or views on the Lagoon. In general, the most requested areas for the sale of residential property are San Marco and San Polo, as well as the artistic Dorsoduro district.
inhabitants 54.078 N. inhabitants Venice historic center Source: Comune di Venezia - Anagrafe della popolazione residente
Cannaregio sud
San Polo
Castello ovest
Cannaregio nord
Dorsoduro ovest
Castello est
Sant’Elena
Dorsoduro est
San Marco
Santa Croce
Giudecca
Map of the areas in Venice (OMI – Observatory of the Real Estate Market)
3
The high demand of international buyers ensures some stability in the real estate market growth in Venice. International buyers account for around 70% of residential property sales in Venice. This year, 35% of these foreign investors are French citizens, followed by the Germans (20%) and British (10%). The majority of buyers acquire real estate as a capital investment and often generate income through tourist rentals (gross 8-10%). In 2016 the prices of the residential real estate properties have had a steady development in the medium-high segment. The demand for residential property, which remains strong and high, will inevitably lead to an increase in prices in the months to come. This demand is supported by several factors, including a downward interest rate policy in Europe and the development of the Italian economy. At the same time, luxury property offerings in top locations will remain limited. This means that in the immediate future there will be no simplification of market conditions.
3. Transactions in urban Macro Areas Urban Macro Areas
2015
N. Trans. I sem. 2016
2016
Var % NST I sem 2016 / I sem 2015
City Center and Giudecca
519
379
-
55,5%
Venice Lido
189
122
-
38,7%
Minor Islands
84
41
-
7,5%
Mainland (Mestre etc.)
1676
1047
-
23,8%
n.d.
138
53
-
154,0%
2607
1642
3243
+32,8%
Venice Municipality TOT.
4. N. of transactions in Venice 2016 Areas
I sem. 2015
2015
I sem. 2016
Var % I sem 2016 / I sem 2015
38
85
63
+ 65,79%
Cannaregio sud San Polo
18
45
35
+ 94,44%
Castello ovest
47
85
60
+ 27,66%
Cannaregio Nord
25
69
52
+ 108,00%
Dorsoduro Ovest
8
25
21
+ 162,50%
Castello est
23
45
38
+ 65,22%
Sant’Elena
9
16
11
+ 22,22%
Dorsoduro est
17
30
26
+ 52,94%
San Marco
18
43
40
+122,22%
Santa Croce
24
40
20
-16,67%
Giudecca Venice TOT.
18
38
13
-27,78%
244
519
379
+ 55,33%
5. Transactions’ Development - Venice Municipality
I semester
II semester
3.500 3.000
Number of Transactions
The development of the real estate market The residential real estate market in Venice has been only minimally affected by the repercussions of the global financial crisis, thanks to the high demand of foreign buyers: The residential property prices have remained relatively constant, during these years of crisis, compared to the Italian ones. Recent data released by the Osservatorio del Mercato Immobiliare dell’Agenzia delle Entrate (Observatory of the Real Estate Market of the Revenue Agency) shows that the trades in the Municipality of Venice (Island + Mainland) in 2016 were in total 3.243 (1.642 in the first half and 1.601 in the second half), in constant increase compared to previous years (eg highlighted in Table 3 and 5). Analyzing the data referring to the first half of 2016, we can see that the highest number of trades took place in the macro-area of the mainland (Mestre and neighboring), followed by Venice historic center and Giudecca (though we have to highlight the clear difference in the quotation of the average prices per square meter). Table 4 shows the number of trades in Venice City divided by areas. In fact, there is a clear increase in the number of transactions compared to 2015, in general (+ 32.8%, see Table 3), but also for each area (see Table 4). The unit prices, which will be shown in detail in the next chapter, highlight a deceleration of the previous decreasing trend, together with signs of an increasing demand in prime and central areas.
2.500 2.000 1.500 1.000 500 0 2010
2011
2012
2013
2014
2015
2016
2010
2011
2012
2013
2014
2015
2016
1.474
1.446
1.087
1.093
1.106
1.236
1.642
II sem.
1.637
1.406
1.111
1.091
1.148
1.371
1.601
Var. %
+21,3
-8,3
-23,0
-0,7
+3,2
+15,6
+16,8
I sem.
Tables 3-4-5 Source: Note Territoriali OMI - Agenzia delle Entrate - Note Territoriali 2010 - 2016
4
6. Tempi medi di vendita Venezia cittĂ
10
8
Mesi
6
4
2
0 2010
2011
2012
2013
2014
2015
2016
Table 6: Average sale times in Venice city center Source: Osservatorio sul Mercato Immobiliare, July 2016 - Nomisma
7. Recourse to mortgage from the buyers
Forecasts for 2017 in the Venetian real estate market The prices of residential property in Venice will continue to rise, due to the high level of interest from private investors and foreign buyers. The number of the most prestigious properties in the most sought-after locations is very limited and is located below the level of demand. Into an Italian economy that is slowly becoming stronger, Venice can expect to profit from the growth of infrastructure investment and from the introduction of measures that can preserve this world cultural heritage. Taken into consideration the low interest rate and the banking crisis, it can be expected that the residential property prices in Venice will continue to have a tendency to rise on the second half of 2017, with unchanged sales times. This particular situation, combined with the typology of the clients, will enable Engel & VĂślkers to further increase its active presence on the Venetian real estate market.
100% 90% 80%
77%
77,2%
70%
64,5%
65%
60%
n.d.
50% 40% 30% 35,5%
35%
20%
22,8%
10%
23%
n.d.
2015
2016
0% 2012
2013
2014
Sales with mortgage
Sales without mortgage
Table 7: Recourse to mortgage from the buyers in Venice Source: Osservatorio sul Mercato Immobiliare, Nomisma Data 2016 not yet available
8. Discount % on the purchase price
16% 12% 8% 4% 0 06
07
08
09
10
11
12
13
14
15
16
First Semesters
Table 8: Average discount (%) on the purchase price, Venice City center Source: Osservatorio sul Mercato Immobiliare, July 2016 - Nomisma
5
Venetian “Sestieri” Dorsoduro
San Polo San Polo
4.900
+5%
4.800
0%
€ / Mq
4.700
-1,7%
4.700
+4,44%
-2% -1,5% -1,1%
4.600 4.500
Dorsoduro is the most artistic district of the city and it is connected to San Marco via the Accademia bridge. In Dorsoduro we can find a high concentration of museums: the Gallerie dell’Accademia, the Peggy Guggenheim Collection, Palazzo Venier dei Leoni and the museum of contemporary art Punta della Dogana, Ca ‘Rezzonico, the museum of eighteenth-century Venice and many others. The most important churches are Santa Maria della Salute, San Trovaso and St. Pantalon. The real estate market Dorsoduro is one of the most requested Venetian areas in terms of real estate sales, with steady demand in time especially in the medium-high sector. It is considered a quiet and artistic area and it is especially appreciated for the sunny Fondamenta delle Zattere, the museums and the wonderful palaces offering a stunning view over the Giudecca Canal, but also for its strategic location, convenient to transport services and to the city center. The average price range goes from approx. 5,600 to 7,100 €/m², even up to 13,000 €/m², for exclusive properties on the Grand Canal. Selling times are between 3 and 5 months. Dorsoduro
6.400 6.300
+0,8%
€ / Mq
6.200
0%
+0,8%
6.100
-1,5% -1%
6.100 6.000
-0,8% -0,5%
+1%
5.900
‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte: SoleOMI24 OreAgenzia delle Entrate Fonte:Ildati
Demand
+ 6
Supply
Selling times
€/mq
-
3-5 months
6.100
-0,8%
4.400
‘08
‘09
Fonte:Ildati Fonte: SoleOMI24 OreAgenzia Demand
+
‘11
‘10
‘12
‘13
‘14
‘15
‘16
delle Entrate Supply
Selling times
€/mq
-
5-6 months
4.700
The district takes its name from Campo San Polo, the largest square in Venice after Piazza San Marco. It is the richest of shops and small Venetian inns. In this neighborhood we can find the famous Rialto Area with its bridge, the fish market and the church of San Giacomo di Rialto, traditionally considered as the oldest in Venice. The Basilica of Santa Maria Gloriosa dei Frari and the Church of San Rocco have a great architectural importance. There are also two “Scuole Grandi”, the Scuola Grande di San Rocco, which is still open, and the Scuola Grande di San Giovanni Evangelista. The real estate market The area of San Polo, although the less extensive, is one of the most interesting areas in real estate sector. It is desired for the central location from which you can easily reach the rest of the city and the mainland. In San Polo we can find some of the most prestigious and exclusive Palaces on the Grand Canal. The average price range goes from approx. 4,200 to 5,700 €/sqm, also up to 9,200 €/sqm for exclusive properties on the Grand Canal. Selling times vary between 5 and 6 months.
San Marco
Cannaregio Cannaregio
4.700 4.600
1,7%
€ / Mq
0%
0%
0%
4.500
- 0,8% +0,5% 0% -2,2%
4.400
4.400
4.300
San Marco district, originally called Rivoalto hence the name Rialto, is the core native of the city. The heart of the district is Piazza San Marco, which for almost a millennium has been the political and judicial center of the Venetian Republic. Facing the large square we can see the Palazzo Ducale, the Basilica of San Marco and the Clock Tower. Other points of interest are the Teatro La Fenice, the San Moise church that stands at the end of Calle Larga XXII Marzo, the famous shopping street with some of the most exclusive boutiques of Venice, and the famous Palazzo Grassi. The real estate market San Marco is undoubtedly the heart of the city of Venice. The area is one of the most touristic and this is especially important for small and large real estate investments. It offers some of the most exclusive and prestigious properties with views of Piazza San Marco and the bell tower, the Grand Canal and the Giudecca Canal. Price range is from approx. 4,700 to 6,200 €/sqm, even up to 10,500€/sqm for exclusive properties overlooking the Grand Canal. Selling times vary between 3 and 5 months. San Marco
5.400 5.300
0%
0%
0%
€ / Mq
5.200
-1,3%
5.200
-1,5% -1,1%
5.100
+4,0%
4.200
‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte:Il dati Fonte: Sole OMI24 OreAgenzia delle Entrate Demand
=
Supply
Selling times
€/mq
+
3-5 months
4.400
The Cannaregio district is the most populated and oc- cupies almost entirely the whole part of the city situated on the north of the Grand Canal. The main water way is the Cannaregio canal, the only inner canal in the historic center, in addition to the Grand Canal, to be crossed by water buses. In this district we can find the Venice Ghetto, which can be reached by a “sotoportego” (covered walkway) at the foot of the Ponte delle Guglie. The main artery of the whole district is the wide route that leads from the train station to Rialto, known as Strada Nova. The real estate market Cannaregio encloses perhaps the greater number of different types of real estate. In the district in fact you can find some of the most prestigious Noble Floors but also pretty kind of pied-a-terre with views of the water or over the Lagoon. The area of the Santi Apostoli is appreciated especially for the centrality and tranquility. Prices range goes from approx. 3,900 to 4,900 €/sqm, also up to 9,000 €/sqm for properties overlooking the Grand Canal. The average selling times turn out to be
5.000
-0,8%
4.900
‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte: Fonte: Ildati SoleOMI24 OreAgenzia delle Entrate Demand
+
Supply
Selling times
€/mq
-
3-5 months
5.200
7
Castello
Giudecca Giudecca
4.300 4.200
€ / Mq
4.100
4.050
+3,7%
+3,2% 0%
4.000
-3,6 3.900
0%
-7% -2%
3.800
The Castello district is the city’s largest neighborhood and it is connected to the districts of San Marco and Cannaregio. The name comes from a fortification present in the early Middle Ages on the island of Olivolo (today island of S. Pietro di Castello). The beautiful Church of S. Zaccaria and the Basilica of S. Giovanni e Paolo have a great importance for the history of the city; here we can also find the Biennale of Venice, surrounded by green gardens, and the famous Arsenal of Venice, the strategic center of its naval power and important ship factory. The real estate market The district is divided into several areas of interest with different characteristics. The area of the romantic Viale Garibaldi, in particular, is appreciated for its proximity to the Biennale, for the green spaces and the tranquility. The properties located on the “Riva dei Sette Martiri” have higher prices, thanks to the incomparable open views on the Giudecca Canal. Price range is from approx. 3,900 to 5,400 €/sqm. Selling times vary between 5 and 6 months. Castello
4.600 4.500
€ / Mq
0%
+1,7%
4.400
0%
4.300
4.400 - 0,8% 0,5% 0%
+2,33%
4.200
0%
4.100 4.000 ‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte: Fonte: Ildati SoleOMI24 OreAgenzia delle Entrate Demand
= 8
Supply
Selling times
€/mq
-
5-6 months
4.400
+1,2%
‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte: dati 24 OMIFonte: Il Sole Ore Agenzia delle Entrate Demand
=
Supply
Selling times
€/mq
+
6 months
4.050
Giudecca is an island located on the south of the historic center of Venice. It faces the Giudecca Canal, in front of the Dorsoduro district. On this island it was built the famous Church of the Redeemer on a design by Palladio, and not far also lies the Zitelle church that, in addition to religious services, it also houses a modern conference center. At the western end of the island stands the neo-Gothic Molino Stucky, built in 1895 by Count Giovanni Stucky, while on the east side we find the famous Hotel Cipriani. The real estate market The island of Giudecca has a very dynamic real estate market. Most of the buyers, especially foreigners, appreciate the tranquility and especially the breathtaking views over the Giudecca Canal and on the rest of the city. The buildings in the Molino Stucky complex also are especially appreciated for the exclusivity of the building and for the prestigious services. The prices range in this area goes from approx. 3,500 to 5,000 €/sqm. Selling times vary around 6 months.
Santa Croce
Lido, Murano e Burano
Santa Croce district is bordered to the east by San Polo to the south by Dorsoduro and by the Grand Canal to the north. Santa Croce is the district that during the twentieth century has suffered more than others the impact of the road link between Venice and the mainland, and it is the only one in the city where there is an area where you can move with the vehicles, although in a very limited way. Among the most important monuments we can find the Church of the Tolentini, San Giacomo dell’Orio, San Stae, Ca’ Pesaro - Museum of Oriental Art and the International Gallery of Modern Art, and The Fontego dei Tedeschi, home of the Museum of natural history. The real estate market The Santa Croce district includes the main links with the mainland and from the real estate point of view, it is appreciated for this location and proximity to transportation services. Despite the rather limited extent in the area overlooking the Grand Canal and in the immediate vicinity it is possible to find properties of great value. The prices range are from 3,600 to 4,600 €/ sqm, also up to 8,200 €/sqm for the most exclusive properties overlooking the Grand Canal. The sales times totaled about 5-6 months. Santa Croce
4.400
+0,8%
4.300
-0,8%
4.200 € / Mq
0% -3,2% -1,2%
4.100
4.100 -1,5%
+2,5%
4.000
-1,3% 3.900
‘08
‘09
‘11
‘10
‘12
‘13
‘14
‘15
‘16
Fonte: Fonte: Ildati SoleOMI24 OreAgenzia delle Entrate Demand
=
Supply
Selling times
€/mq
=
5-6 months
4.100
The Venice Lido is a thin island that stretches for about 11 km between the lagoon of Venice and the Adriatic Sea, connected to the city and the mainland only by watery transports; it is especially appreciated during the summer season for its beautiful beaches and exclusive locals on the seaside. The island of Murano is located on the north-east of Venice, known around the world for the ancient craft that produces the typical Murano glass. Burano is a pretty island known for its characteristic houses brightly colored, to the centuries-old craftsmanship needle lace and culinary traditions. The real estate market The Lido of Venice is considered a place of sea and therefore owns a real estate market affected by seasonality. The rental market is soaring and second homes are mostly inhabited by buyers from Austria and Germany. The area Prices range from approx. 3,000 to 4,500 €/sqm. The island of Murano is a “village” inhabited mostly by residents and appreciated for its tranquility; although less than in Venice center, Murano still enjoys a good steady flow of tourists. Prices range goes from approx. 2,200 to 3,700 €/sqm. Burano, as well as other smaller islands of the lagoon (Mazzorbo, Torcello, St. Erasmo, etc.), attracts many visitors especially during the summer, the ideal period to admire the beautiful and bright colors and the stunning scenery on the North Lagoon. The real estate unit prices range is from approx. € 1,800/sqm to € 3,300/sqm.
Demand
Supply
Selling times
€/mq
Lido di Venezia
=
+
8-9 mon.
3.750
Murano
-
+
8-9 mon.
2.950
Burano
-
+
9-10 mon.
2.550
Isole minori (Mazzorbo, Torcello)
-
+
8-9 mon.
2.000
9
The Network Engel & Völkers Data of 2016 and forecasts for 2017 The network Engel & Völkers Italy 2016 The luxury real estate network Engel & Völkers has closed 2016 globally, increasing commissions revenue by 23.6%, reaching 506.3 million euros in turnover (compared with 409.8 million euros in 2015). Italy is the first in the basket of countries where E & V is present, with a growth of 93.2% of residential commissions, followed by Spain and Portugal. Also for 2017 Engel & Völkers expects a strong expansion, with the opening of shops and offices in 50 new locations. Engel & Völkers is a global brand specialized in the luxury segment, which offers more than 700 Shops worldwide and the new formula of the Market Center (large agencies that operate with more than 200 real estate agents). Engel & Völkers is now present in all the major cities of Italy (Rome, Milan, Florence, Naples, Bologna, Cortina, Palermo, Porto Cervo) and provides a three-year development plan with new openings in holiday resorts locations and art cities, such as the new Treviso, Val d’Aosta, Costiera Amalfitana, Trento, Portofino and Riva del Garda. The group’s objective is to intercept most of the foreign clients (six thousand buyers in 2015) who wants to own a second home or to move to Italy.
Engel & Völkers in the luxury real estate market in Venice Engel & Völkers Venice’s Shop Opening in September 2014 had immediately a positive response. The office has considerably tightened in 2015 its workforce by selecting dynamic and highly motivated consultants, with a thorough knowledge of the area and the market. Thanks to a careful selection of the real estare portfolio and to the synergies of the network Engel & Völkers, in 2016 it were achieved results 50% more than the intended objective. The analysis of the results shows, from the point of view of the location of brokered properties, that the 18% of the sales has seen real estate object located on the Giudecca Island; 14% properties located in Dorsoduro, 9% properties located in San Marco, 18% properties located in Cannaregio, 25% properties located in Castello, 2% properties located in Santa Croce and 4% in Venice Lido. The 85% of sales concerns freehold apartments, while 15% villas or detached houses. Following the price range, the analysis shows that 27% of sales refers to properties under 250,000 euro; 55% of properties with price range between 251,000 and 500,000 Euros; 9% properties between 501,000 and 1,000,000 Euros and 9% of sales involved properties over a million euro (see Table 9). This analysis shows that most of the trade is placed in the middle range of the real estate market given by the high demand for property investment. Thus emerges clearly the placement of Engel & Völkers in the Venetian high-end real estate market: about 10% of the transactions appear to be more than 1,000,000 Euros. The goal for 2017, confirmed by the positive trend of the first half, is to significantly increase the value of the brokered real estate.
Table 9: E&V Venezia sales in 2016 Source: internal data Transaction Volume E&V Venezia (mio. €)
10,5 10 9
9,0 7,5
8 7 6 5 4 3 2 1 2015
Team Engel & Völkers Venezia
10
Source: internal data
2016
by 30.06.2017
Engel & Völkers in Italia
Svizzera
Austria Bressanone Merano Bolzano Trentino Alto-Adige
Cortina d'Ampezzo
Friuli Venezia Trento Giulia Verbania Cernobbio Lago d’Iseo Riva del Garda Courmayeur Laveno Lago di Garda Veneto Bergamo Valle D‘Aosta Varese Treviso Brescia Monza Brianza Bardolino Sarnico Jesolo Arona Milano Desenzano del Garda Venezia Cernusco Verona Lombardia Padova Piemonte Lago di Como
Lago Maggiore
Asti Emilia-Romagna Liguria Santa Margherita - Portofino
Francia
Ferrara
Modena Bologna Milano Maritima-Cesenatico
Alassio Sanremo
Riccione Viareggio
Firenze Toscana Siena
Assisi-Spoleto
Marche Civitanova Marche
Umbria
Abruzzo Roma Lazio
Molise
Sabaudia Porto Cervo
Campania
Olbia
Isola di Procida Isola d’Ischia
Sardegna
Puglia
Napoli Basilicata
Amalfi-Capri Isola di Capri
Lecce
Gallipoli
Calabria
Palermo
Cefalù
Trapani Sicilia
Taormina Catania
Siracusa Ragusa
11
Engel & Vรถlkers nel Mondo
12
Engel & Völkers Venezia SHOP: Campo Santa Margherita 3002 · Venezia OFFICE: Campo dei Frari 2999 · Venezia Phone +39 041 267 52 22 · Facsimile +39 041 267 52 23 Venezia@engelvoelkers.com · www.engelvoelkers.com/venezia