Are house prices in Italy dropping due to coronavirus crisis?

Apr 21, 2020 403

The global pandemic is definitely having a huge effect on Italy’s real estate market, but house-hunters shouldn’t expect to see the market flooded with cheap properties just yet. Italy’s property market has ground to a halt, as have the vast majority of sectors in a country that up until a few days ago was the worst hit by this global pandemic (now only surpassed by the US).

Estate agencies will remain closed for the foreseeable future and house viewings aren’t allowed, despite the gradual loosening of restrictions for some industries as of Tuesday April 13th. Real estate agents say some 20,000 property sales in Italy have already been cancelled due to the coronavirus outbreak.

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