In 2009 in Umbria 9,240 properties were sold, a number which demonstrates an 11% decrease on the previous year of 2008 which respectively, is again, a decrease of 25% in respect to 2007.

In terms of homes sold, after scoring an excellent performance from 2000-2007, even in the crisis stage of the downfall of the market Umbria held up better on average than the rest of Italy (-28%) and than the confining regions also -28%.

The crisis in Umbria arrived around a year later in respect to the other zones of Italy.

The biggest falls in sales where observed in the area of Spoleto (-34%), in Umbertide/Città di Castello (-27%) and in Todi/Deruta/Marsciano (-23%) all areas that previously had over performed in terms of transactions. Conversely, transactions in Valnerina (+1%) and in the zone of Monti Martani (+20%) grew.

Analysing the sales figures in the region of Umbria, we observe that Perugia attracts over 70% of all transactions in Umbria; in the territory of Perugia province, Perugia city attracts 34% of all the provincial sales.

On the price front, the effects of the crisis were in line with the national average, with falls in the region of 10-12%.

Particularly affected were low quality buildings in the suburbs of larger urban areas. While high quality properties, with energy saving or “green” qualities where less affected by the market slump.

After the introduction of a new regional law, imposing higher standards of eco-sustainability on the creation of new buildings (solar panelling, photovoltaic rainwater recovery…), it was seen that these “greener” buildings with lower energy consumption had a higher turn-over rate.

The demand for cottages and country homes, in Umbria, at the moment mainly comes from Rome, as second homes or holiday houses. Due to this phenomenon, an increased interest was seen in the south (Amelia, Orvieto, Baschi, Fabro), with less demand for homes in Gubbio, Alta Valle del Tevere and central Umbria.

The demand from overseas was the leading interest in the years of 2000-2007 but was greatly reduced during the period 2007-2009. It is now showing signs of a come back, in the first half of 2010, also thanks to the weakness of the Euro, which renders investment more inviting in Europe.

At the moment there is more interest in medium to large estates of a high quality, meaning that the midrange quality homes suffer less demand.

The per meter prices of farmhouses and country homes in stone, recently renovated, cost between 2,300 and 3,000 €/sq m; notably the prices for country houses to renovate, with private land, range from 400 to 900 €/sq m.

Typical buildings in small towns are much cheaper, with prices on refurbished rarely exceeding 1,800 €/sq m.

Last updated: June 2010