Covid-19 has changed the markets. In real estate there have been significant changes throughout Italy.
But how has the market changed in Albarella?
- Rents
Thanks to a solid administration and excellent coordination , Albarella Island is reacting proactively to the changing situation given by the pandemic. In fact, in 2020 Albarella proved itself to be a Safe Island: there were many owners, tourists who had known the Island for years, but also many families who discovered Albarella for the first time, a unique "Covid Free" destination able to guarantee safety and social distancing.
As far as the rental sector is concerned, the most sought-after properties in the Covid era have been and still are villas with swimming pools, but equally maintaining a high demand are the small villas with gardens next to the sea.
The year 2021 looks interesting given the many booking requests received already in January.
- Sales
During the summer of 2020 we experienced a good response in the sales market, beyond the expectations announced by several economists;
we are not going to make predictions about what the real estate market will be like from now on, it would be too complicated given the many variables that come into play. We simply analyze the current trend in the real estate sector.
At the end of January, we can say that The Real Estate in 2021 is maintaining a positive trend: there is no shortage of requests to buy in Albarella, Italians (and not only) continue to believe in the brick.
This historical moment is interesting both for those who want to sell and for those who want to buy, given the current interest rates (at historic lows), given also the existing bonuses and incentives.
Among the most in-demand properties we find small villas in need of renovation and the chioggiotte always appreciated for their overlook.
From the Real Estate Agency SEP we therefore send a positive message to everyone but in particular to those who have suspended or postponed the sale of their property: the real estate market has not been affected in fact there are more requests to buy today than in the "pre-covid" period.
Behind a market of apparent crisis there are big opportunities
Financing interest rates at historic lows and renovation incentive measures launched by the Executive make this historic moment favorable both for the customer interested in buying new real estate and for the customer intent on selling or exchanging his property.
Let us summarize here the main purchase incentives:
- 110% superbonus to be taken advantage of until June 30, 2022; an additional six months are allowed (i.e., until December 31, 2022) if work is already at least 60% complete.
- The renovation bonus still valid through 2021 is the 50% Irpef tax deduction of expenses incurred for ordinary maintenance, extraordinary maintenance, restoration. (Some examples of ordinary maintenance works for which the renovation bonus is recognized are the following: construction and improvement of sanitary facilities, replacement of exterior fixtures and window frames or window shutters and with modification of material or type of fixture, interventions aimed at energy saving). As for the renovation bonus, it is also possible to opt not only for the Irpef deduction in the tax return, but also for the invoice discount or for the credit transfer.
- The green bonus is the 36% tax deduction for expenses incurred for green works in existing buildings, including roofs and roof gardens
- Extension of the furniture bonus in 2021 with an expenditure limit of 16,000 euros. The furniture bonus is a 50 percent deduction, to be spread over 10 years, for purchases of furniture and large appliances of class no lower than A+ (A for ovens and washer-dryers) to furnish properties undergoing building renovations. The work must have begun within 2020, while the purchase of furniture and appliances can also be made in 2021.
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P.S. You have a house in Albarella and would like to know its current market value?
If you would like to plan with us your next course of sale, purchase or exchange in Albarella contact us for a free, no-obligation evaluation at 327 144 9391, or email us at immobiliaresep@gmail.com
SEP Real Estate Staff