Real estate, houses collapse at auction but also hospitals and convents

The number of auction houses in Italy collapses and in the last six months has decreased by 24.44%. According to the six-monthly report on real estate auctions of the Sogeea Study Center, presented today in the Senate, there are 11,444 ongoing procedures, compared to the 15,146 recorded at the beginning of January 2021. Regarding the geographical distribution, almost a third of residential properties for sale (3,438) is concentrated in the north of the country; followed by the Center with 3,313, the South with 2,519 and the Islands with 2,174. The Report also shows that the number of tourist accommodation facilities auctioned in Italy is growing with an increase of 13.3%. And not only. Hospitals, theaters, and convents also go to auction. In fact, the survey of the second half shows that 13 hospitals and 3 theaters have been auctioned, but the record of the singular categories of foreclosed properties, however, goes to charity: there are as many as 20 Convents auctioned, which grew by 18% compared to previous survey. “At the moment, banks are less aggressive and there are fewer procedures in progress”, Professor Sandro Simoncini, director of the Sogeea Study Center and professor of Business Economics at the Uninettuno University, commented to Adnkronos. This is because, explained the engineer, “if two deserted auctions occur there is a 25% drop on the value of the property and with four deserted auctions there is a 50% drop and the bank risks not resuming its money”. “The banks are aware that the value of properties has drastically dropped in the last year due to the pandemic – continues Simoncini – and, consequently, an auction would still not allow them to return the capital disbursed. They also know that, in many cases, the difficulties of those who have taken out a mortgage are linked to questionable mechanisms such as that of interests arising from interests “added Simoncini. Going into the detail of the Report, just under a seventh of the houses covered by the study, equal to 1,715 units, are located in Lazio, a region that precedes Sicily (1,476); more detached Piedmont (1,232), Campania (1,206), Tuscany (945), Lombardy (771) and Veneto (731). Under the thousand houses at auction also Sardinia (698) and Marche (586). Only an enchanting residential property in Valle d’Aosta. At the provincial level, on the other hand, the 1,088 auction houses in Rome stand out, which are 9.5% of the national total, with Naples in second place (588), followed by Vicenza (419), Bergamo (413) and Catania ( 408). The Report also shows that 69% of the houses for sale have a price of less than 100,000 euros, a percentage that even rises to 88% if we also take into consideration the properties belonging to the range between 100,000 and 200,000 euros. “However, it should be emphasized that in the vast majority of cases we are talking about non-prestigious properties, for which the medium-low income bracket still pays a significant toll in this crisis that does not seem to end” said Simoncini who considered “it is essential to enact a standard. that it also protects those who have lost their homes and not just the banks, perhaps with a public fund that purchases the property at auction and re-places it on the market without depreciation “. Finally Silvia Massi, Associate of Criminal Law at the Uninettuno University, during today’s presentation in the Senate noted that “to prevent the risk of crimes such as auction disruption, extortion and corruption, during real estate auctions , it could be useful to create a new figure, that of the ‘responsible for transparency’ “.