Rome Luxury Homes Saw Robust End to 2020

Rome’s high-end real estate market recorded a successful second half of 2020, according to a report Tuesday from Engel & Völkers.

Prices in the Italian capital city held steady despite the coronavirus pandemic, and there was increased demand for luxury properties in the central historic and peripheral areas, the Hamburg-based international brokerage said.

In particular, “October until December 2020 showed an elevated number of transactions in the high-end market and stable prices,” Helio Cordeiro Teixeira, managing director of the Engel & Völkers market center in Rome, said in the report.

“These months have seen a trend toward greater outdoor spaces as well as rooms that could be used as office space,” Mr. Teixeira said.

That trend has been echoed around the globe—from London to Los Angeles—as people, having spent more time than ever in their homes during the pandemic, have reassessed their housing priorities and needs.

In Rome, it has led to a spike in demand for homes in areas such as Balduina, EUR, Talenti and Valverde, which offer larger spaces, gardens or access to parks, and easy access to the city.

During the latter half of 2020, roughly 85% of buyers were domestic, though demand from international clients, particularly from France and the U.K., was strong; several transactions with international buyers were done remotely, the report said.

Engel & Völkers expects that Rome’s real estate market will remain stable in the first half of 2021, and the appetite for homes with larger rooms, outdoor spaces with green areas and easy access to the city will continue.

Article Source: Mansion Global