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Covid effect on real estate auctions, + 63% in the last six months of 2020


AGI – If there is one sector that the Covid pandemic has made grow it is that of real estate auctions, which in the last six months of 2020 were the protagonists of a real boom, with a 63.5% growth in the number of auction houses.

We are talking about 15,146 procedures detected at the end of the year compared to 9,262 in the previous month of July, according to the numbers released by the semi-annual report on real estate auctions of Sogeea Study Center, presented this morning in the Senate.

A market worth 1.5 billion, of which, excluding the costs for the procedures, about 1.4 billion are destined for banks. It can be approximated to the value of revenues for the tax authorities is around 160 million euros with the registration tax.

On the other hand, the amount of renovations that will follow the acquisition of the properties can be estimated at around one billion. In this case, the revenues for the state coffers between VAT and taxes can be quantified in about 270 million.

And in the last half of the year of Covid, not only houses were foreclosed and ended up at auction, but also 4 castles, 15 hospitals, 8 theaters and 17 convents.

“We are almost used to the fact that a family in difficulty may be unable to pay the mortgage and can see their home sold at auction, we are almost used to it – he explained Sandro Simoncini, president of Sogeea and director of the Study Center – as we are used to seeing entrepreneurs who, believing in their company, guarantee investments with their home; we hardly think that in the difficult situation there can be a charitable, socially useful organization or a noble family. The data concerning the categories show how the drastic national situation is directed towards those difficult conditions from which, at this moment, no one can escape ”.

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Nor alberghi, bed & breakfast, motel, campeggi and other reception facilities, sunk by lockdowns and the now chronic lack of tourists. The number of hotels at auction in Italy has increased by 7% in six months: the ongoing procedures concern 128 structures compared to the 120 recorded at the beginning of July 2020. Almost 30% of the properties analyzed are located in North. The Italian region with the most facilities at auction is Lazio with 16, 15 in Sicily and 13 hotels for sale in Sardinia.

“As happens in the residential sector, also in this case it is above all the entrepreneurial realities of small size“, Simoncini observes again.

Returning to the houses put up for auction, Sogeea rattles off the numbers: about a third of the houses for sale (5,798 units) are concentrated in North of the country, macro-area in which the surge in forced procedures was equal to 27.7%.

Even more severe the data of the South, but the sharp rise is dragged by the Islands, where the increase stands at 284% (2,105 against 584 in the previous half year) and 113% in the peninsular part (3,027 compared to 1,423 in July 2020).

The situation is also serious Center, where there was an increase of 64%, the procedures detected at the end of 2020 are 4,216, while those of six months ago were 2,566.

“The resulting picture is that of a country that tremendously struggling to get out of the crisis significantly aggravated by the pandemic – stressed the
president of Sogeea – at the same time it can be assumed that throughout Italy the people who find themselves in economic and financial difficulties are drastically increasing, even if the credit institutions have become less aggressive towards those in distress, aware that the value of the properties it has drastically dropped in recent years and, as a consequence, an auction would still not allow it to return the capital paid out “.

Hence the request for “a true support for those who are no longer able to pay the mortgage and want to keep their first home – continues Simoncini – a guarantee fund that allows families to have a two-year pre-amortization without paying the capital and the extension of the residual duration of the loan (double or triple), in order to drastically reduce the monthly payment. This is the only way – concludes the director of the Sogeea study center – to avoid a subsequent significant increase in suffering, from which at that point it will be difficult to get out of the next survey “.




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https://www.agi.it/economia/news/2021-02-23/effetto-covid-boom-aste-immobiliari-11521385/


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