Housing market in Lecce
Lecce Housing market in Lecce is in difficulty and this situation emerges from an inquiry about the first 6 months of 2009 that points out a decrease of 3.7%. The main issue is related to declining demand and to excess supply, especially for properties of new construction. Many builders bought lands, paying for it very expensive in 2005-2006 and now that their building yards are completed they have a 70-80%. of unsold percentage.
The timing of sales have been further extended for buildings of large size, but with a value greater than 200,000 €. The 4-5rooms flat is the solution with fewer buyers. With 250,000 euros you can buy solutions from 170 sqm.
Purchases are primarily motivated by family needs, even if there is a growing interest in private real estate investment. Young couples are focused on medium-sized apartments of 2-3 rooms with an average cost of € 130-140 thousand. They pay for them a deposit of € 30-40 thousand and the for the they apply for a loan.
The rental market is more active, since there has been a shift by households unable to start a loan. For a two-rooms apartments fees are of € 450-500 per month, rising to € 600-700 per month for a three-rooms apartment. With the Expansion of the University the City Council has pushed hard on new construction. Additional bed in double room costs from 180 to 200 € per month, in a double room around 120-130 € per month.
In Lecce historical centre prices are still very high. For a renovated elegant apartment the request is, for example, € 2500-2700 per sqm, top solutions can cost € 3000, but this is a separate market, different from the rest of the capital of the province. Who has a property on sale does not want to depress the price and then they don’t get much done. The only negotiations were with foreigners, mainly French and from northern Italy. There has been a sharp drop in sales by English people.
There is great demand for the eastern area, which goes from Salesiani neighbourhood to Marine neighbourhood , where the new building is also sold at 1,800 € per sqm, while if it is to be restored at 1500 € per sqm.
The well-to-do persons prefer solutions in villa , widespread in Rapulla, near the stadium.
Young couples are concentrating their preferences over the area of Idria street and Crespi avenue where a three-rooms apartment costs 135,000 €, or in the hinterland, such as in Cavallino and Merine where a three-rooms apartment costs around € 110-120 thousand.
Housing market in Lecce Lecce Housing market in Lecce is in difficulty and this situation emerges from an inquiry about the first 6 months of 2009 that points out a decrease of 3.7%. The main issue is related to declining demand and to excess supply, especially for properties of new construction. ...
For a better use of Realigro website, set your preferences for language, currency, square meters or sq ft.
Set now Don't show again