Real estate market, Expertise Re: “Non-residential sector in surprising growth”
To better understand the dynamics of the real estate market in Sicily and Calabria, we interviewed Vincenzo Cavallaro, Director of Expertise Re
PALERMO – The Covid pandemic and the means to protect citizens have changed the socio-economic condition of the entire planet; in Italy, sector studies show decreases in many areas, while the real estate sector goes against the trend. The market saw a slight decline in residential (-7.7%) and commercial (-7.6%) sales, but also recorded an increase in transactions in the non-residential sector, especially in the case of warehouses with an increase of 5,265 units compared to the same half of the previous year (Source Nomisma sector study).
To better understand the dynamics of this market in Sicily and Calabria, we interviewed Vincenzo Cavallaro, Director of Expertise Re, a company specializing in investment income and properties for production and commercial use.
Has the current emergency situation had repercussions on the real estate sector you represent, especially in Sicily and Calabria?
“During 2020, we have observed a stabilization of our activities, in any case, this is a figure concerning our specific market segment; despite the pandemic, the recovery trend can be identified in the number of transactions and not in real estate values, currently quite low. It is a surprising situation in a positive way, we feared a significant drop in the number of trades due both to the direct impact of the pandemic and to the probable decline in the confidence of the interlocutors to whom we refer. Our company offers the possibility of investing in income-generating properties, we also have in our portfolio of instrumental properties (warehouses, industrial sheds, etc.) intended for commercial, industrial and / or professional activities; some sectors and some companies, beyond the historical moment we are in, are managing to absorb the Covid impact and generate profit, this allows us all to look positively to the future. In addition, a growing number of investors are entering the real estate market in search of investment opportunities with guaranteed income or in vacant properties to be rented “.
What is the typical profile of the customers you relate to?
“The institutional interlocutors (banks, insurance companies, investment funds, primary companies) we address entrust us with the sale of their real estate assets with the aim of receiving local investors wishing to obtain guaranteed returns from their capital or entrepreneurs with the need to acquire useful space for their business or simply subjects willing to purchase a property to be rented to third parties. Of course, companies with the need to enlarge their spaces, or even reduce them, are interlocutors to whom we offer our services; the search for the right property for the company is our mission, as indeed underlined by our claim ‘your ideas our spaces’. There are not a few companies in this period, in need of increasing their spaces, the marketing of products according to online sales, has increased the need for storage space or necessary for logistics or alternatively also the reduction of space for production optimization and professional “.
What are the strategies you adopt to best meet their needs?
“Our business model provides for the collaboration with real estate agents in the area that correspond to our ethical model and who are in possession of specific sectoral and territorial skills, we have a network of collaborators, carefully selected in over 20 years of experience, located in Sicily, Calabria and other areas of Italy. Our value lies precisely in the expertise of our team which, case by case, critically analyzes the customer’s needs and the characteristics of the property in question: many times a property for various problems cannot be used for the purpose imagined by the customer, it is it is up to us, together with the right professionals, to understand if that property can vary in its purposes or not. We also implement differentiated marketing strategies for each property based on customer requests as a sales support. Once the right property has been identified, we accompany our customers and evaluate how and under what conditions it is possible to reconcile the seller and the buyer, offering timely and detailed technical assistance through the in-depth study of the available documentation, the status of done, the documentation filed with the responsible bodies, etc. We work with the aim of protecting the buyer, protecting him from any damage related to the purchase and / or lease, and the seller, all with a great sense of responsibility towards the clients. We also take care of assistance for participation in real estate auctions. In particular, we refer to the exclusive assignments entrusted to credit companies holding credits purchased by banks. In this case, our task is to promote participation in the auction and to support those interested in taking part in it. It is, on the one hand, an important marketing action through sponsorship and advertising on the market of the auction in question and, on the other hand, to carry out a detailed and documentary analysis for the interested party, accompanying him in the process of presentation of the offer. It is certainly a very complex sector that is not the prerogative of everyone and needs a high professional profile such as that constantly offered to our customers “.