In recent years, the luxury real estate sector has also been arousing interest among younger and less experienced investors. For this reason it is increasingly important that agencies are trained by competent personnel able to guide even the most inexperienced customers to make targeted and effective purchases both in terms of quality and cost-effectiveness.
Experience, competence, foresight and reliability are just some of the qualities of Denise Tuvè, Local Ambassador of Turin, whose agency has recently entered into a partnership with Luxforsale.
We asked her a few questions about the current trend of the prestigious real estate market in Turin and what are the growth prospects of the sector that she sees in the medium and long term.
What is the current trend of the real estate market in your agency's reference area?
Based on the data collected by the 2022 Real Estate Observatory, conducted by real estate agents adhering to the Italian Federation of Professional Real Estate Agents in Turin, the real estate market in Turin is growing. In 2022 volumes and values are positive in the city, as in the province. Turin records 5.9% more in sales with 16,125 transactions and sees prices up by 1.6% compared to 2021.
In the province, the increase is more contained: with 21,800 exchanges, out of town registers +0.7% in 2022 and prices up by 1.2%. Overall, the Metropolitan City has about 38,000 completed trades, with almost +3% compared to the previous year.
The increase in sales was accompanied by that in prices, especially in some areas that are becoming strategic in the city: Lingotto (+3.5%), Mirafiori Sud (+2.4%), San Donato (+2.2 %), Cenisia (+2.4) and Lucento (+2.9), recorded the best percentage changes, thanks to the infrastructure and new roads".
The brick is considered today as a shelter from the devaluation of money. The boost of tax bonuses is also undeniable, from the Under 36 which allowed young people to buy their first home, and those linked to renovations, together with the Superbonus and the Sismabonus, which have spurred on the second-hand market.
Sustainability is also making its way into the luxury real estate market. Buyers want homes built with low environmental impact materials, equipped with smart systems, efficient appliances and equipment, and solar panels.
In these first months of 2023, the real estate market has entered a stalemate, is slowing down and has less vitality. There is uncertainty, on the one hand it is due to increases in interest rates on mortgages which discourage moving house, making consumers enter a more wait-and-see perspective; but on the other hand, the slowdown on building bonuses has also created a new slowdown.
Based on your experience, have you managed to identify a target customer who turns to your real estate agency?
My real estate agency is aimed at a target made up mainly of young investors over 30 years of age.
What are the most requested properties at the moment?
The most requested properties currently are medium-large sizes, over 200 square meters, equipped with attics and outdoor spaces. The terrace has become essential for those looking in the area, to the point of excluding even the prestigious houses that do not have them.
The essential characteristics of homes are first of all safety with technological devices and the design of environments attentive to the needs of comfort and optimization of the available spaces.
What are the reasons that led you to create the partnership with Luxforsale for your real estate agency?
The reasons that led me to create a partnership with Luxforsale are: sharing the same values (we both have a propensity for growth and put the customer at the center of our business) professionalism, a common element that distinguishes those who collaborate with the company , and finally the skills, both organizational and marketing.
What are - based on your experience in the sector - the possible future developments of the luxury real estate market in your reference area, and in general?
In my opinion, the main players in the luxury real estate market in the coming years will be institutional real estate investors, and foreign clients with financial resources who are increasingly showing interest in the Italian real estate market.