Real estate market forecasts for 2024
The real estate market is constantly evolving and 2024 is a year of changes and new trends. According to industry experts, technological advances, an increasing focus on green and sustainability, but also an evolution in the behavior of potential buyers will reshape the real estate landscape. The result will be an even more dynamic sector in both residential and commercial property sales.
The recovery at the national level, compared to 2023, will therefore be very clear.
Real estate sales and purchases 2023
After two years of remarkable growth at the national level, 2021 and 2022, linked to the new post-pandemic housing needs, 2023 was a year of adjustment, which recorded a slight contraction in real estate sales. The factors that have led to the slowdown in the race in the whole sector are mainly linked to the growth of variable mortgage interest rates and the increased difficulty of access to credit for households, due to stricter conditions on the part of banks for the granting of a loan.
On the other hand, the luxury real estate market, which also maintained high levels of demand in 2023, has not been affected in the least by the difficulties. And it is precisely this last market, also in 2024, that is expected to grow. But let’s discover together the other novelties and real estate trends of 2024.
News of 2024 in the real estate market
As mentioned, 2024 is confirmed as a year in which investors, especially in the luxury real estate sector, will continue to show great interest in the residential market. An interest mainly due to the parallel growth of demand in the short and long term rental sector, which from the United States and northern Europe is also conquering Italy.
Just this novelty is leading the professionals of the sector, as is already the case for Studio Immobiliare Sì, to ensure support throughout the entire buying and selling process, offering increasingly digitalized services to customers. For example, real estate digital marketing through which you can maximize the value of properties with promotion strategies tailored to your needs.
A growing trend in the real estate market 2024
Among the major trends, the 2024 real estate market continues to record the growth of attention to green issues and sustainability. On all: the search for properties built with high energy classes that guarantee low bills.
At the same time, attention to sustainable building practices is also growing, with buyers looking for environmentally friendly materials with a reduced environmental impact.
To this, is added the research related to real estate properties that already have inside them technologies and automation systems for remote control: the so-called “smart homes”. Finally, the growth in demand for buildings close to green areas, well connected to public transport systems or sustainable mobility, both in large cities and in smaller ones.
Augmented reality and digital tool support real estate sales
Users’ search habits, even in the real estate sector, are increasingly digital, at least in the first phase of real estate search. Augmented reality and the digitization of different services are therefore an additional tool in support of real estate sales.
The AR (augmented reality) allows in fact to organize virtual visits inside real estate, giving a precise idea of what the property is like, even before visiting it live. The real estate of dreams is the result of imagination and emotion, so the visual and emotional element – albeit through the digital tool – remains one of the aspects on which to focus more to hit the potential buyer and win him at first glance.
AI leads the 2024 real estate market
Finally, AI – Artificial Intelligence is increasingly prominent in real estate. The AI is the tool to customize and refine even real estate analysis, based on more accurate and targeted data.
The goal is to combine the AI tool with the knowledge and skills of professional real estate agents, for even more accurate and specific assessments. From this point of view, therefore, artificial intelligence can be the tool to anticipate the time and analyze future real estate values more quickly, based on socio-economic indicators, environmental factors, and other aspects.
