In the mountains the demand for houses is growing, but small
The mountains today are doing better than five years ago: prices are rising in almost all the main locations and interest is growing. Cortina d'Ampezzo, always the most expensive, exceeds 11,300 euros/m2, an increase of almost 20% compared to 2018. However, there are other destinations that Italians have looked at with more interest: Badia and Selva di Val Gardena , where demand has more than tripled since 2018.
These are some of the findings that emerged from the analysis of Immobiliare.it Insights, the proptech company of the Immobiliare.it group, which compared the main market indicators for some of the most famous Italian mountain resorts with 2018.
Houses yes, but smaller
Generally, the average minimum surfaces searched by users for their retreat have reduced compared to 5 years ago. In Madonna di Campiglio, for example, it went from 83 m2 to 61 m2 and in Courmayeur from 86 m2 to 68 m2. Also in Cortina and Ortisei the research focuses on smaller houses compared to 2018: in the first case the size went from 86 m2 to 81 m2, while in the second from 72 m2 to 63 m2. On the contrary, in the localities of La Thuile and Badia the most desired solutions are generally larger in size than before: in the Aosta Valley locality they went from 57 m2 to 72 m2, while in the one located in Trentino-Alto Adige from 53 m2 to 67 m2. The three-room apartment remains the most requested configuration in general and, in terms of extra features, the garage is the one most appreciated by potential buyers. Only in La Thuile and Ortisei do the garden and the terrace win respectively.
«The second home remains a very attractive form of investment for Italians, who often choose it in a tourist location so that they can also use it as a holiday home – comments Antonio Intini, chief business officer of Immobiliare.it -. In particular, the choice of the mountains ensures the possibility of using the property continuously throughout the year, during the cold season to practice winter sports and in the remaining months for walks and moments of escape from life in the city. The high demand and relative scarcity of supply in areas where it is often complex to build new homes have meant that these locations have experienced continuous growth in prices."
Valle d'Aosta
In Cogne, where prices are increasing by 6.7%, the news is represented by an increase in requests from foreign buyers, residents in Belgium, Holland and the Netherlands who take the opportunity of lower prices. They focus on properties located in less touristy areas, surrounded by greenery and often buy typical houses that require major redevelopment works. The presence of services is not decisive for the choice and for this reason they are also interested in the Valsavarenche valley. Italian buyers prefer the best-served areas, they focus on two-room or three-room apartments of up to 80 m2 for which they are willing to spend around 150-200 thousand and 250-280 thousand euros respectively. We like the independent solutions, some of which are redeveloped with the superbonus. In the central village of Cogne the values of renovated solutions range from 3 thousand to 3500 euros per m2, while for a good used one it is necessary to take into account 2500 euros per m2. The popularity continues for Saint Pierre which has much lower prices (1500-1800 euros per m2 for a good used one and 2000-2300 euros per m2 for a new one), thanks to the proximity of the Aosta Ovest motorway exit which allows you to quickly reach Cogne, Pila, Courmayeur.
The demand for holiday homes in Torgnon and Valtournenche is decreasing even if the interest from foreign buyers arriving from France, Belgium and Switzerland in search of homes to renovate and then resell or rent is confirmed. In fact, they choose these locations to make capital investments of less than 200 thousand euros, which is why they also turned to less renowned locations such as Chatillon. Cervinia is naturally the most sought after location by those with a significant budget given that a used one costs around 6 thousand per m2 and a new one reaches 9 thousand per m2. The one in Torgnon is good and you can appreciate the central area from which the cable car leaves for the slopes and where all the services are concentrated. Torgnon is increasingly becoming a family market with facilities designed for them. Prices are lower and are around 2500-3 thousand euros per square meter. Values drop in Chatillon where a good used one costs around €1500 per m2 since it is located at the bottom of the valley and further from the slopes and Cervinia. For the same reason prices drop even further in Magdaleine: 1300 euros per m2. Also of interest for Antey, the most central location in the valley and easily reachable thanks to the Châtillon motorway exit and Chamois, one of the highest municipalities in Italy, which can only be reached by cable car and with a real estate offer repre...
