Real estate, Re/Max: turnover over 104 million euros in 2023

RE/MAX Italy closes 2023 with a sales which exceeded 104 million euros and real estate transactions for more than 3 billion euros. Looking to 2024, the company – among the main operators in real estate franchising – expects further growth, aiming for a turnover of 115 million euros and the expansion of the network with 4,800 affiliates throughout the national territory.

“The main factor that determined the performance of the real estate market last year was obviously theincrease in interest rates“, he claims Dario Castiglia, CEO & founder of RE/MAX Italia. “The scenario that lies ahead for the next few months, with a possible reduction in rates, is already generating positive sentiment among consumers and companies”. President Castiglia therefore confirms his confidence, believing that the real estate it will present great challenges, but above all interesting opportunities for sellers, buyers and real estate agents capable of exploiting the potential of a market undergoing change.

In the current context, which continues to be affected by ongoing geopolitical dynamics, according to RE/MAX demand will be supported by emerging trends. “In particular, we foresee a new dynamism linked to replacement of the first house or topurchase of a second home”, explains Castiglia. “A statement that is based on the analysis of Italy’s sociodemographic curve, in which it is clear that the population is ageing”. According to the analyzes of the RE/MAX Italia Study Center, this will mean that some families, made up of parents and children, will break up, as is also natural. “This will also have repercussions on the real estate market because the ‘family home’ without the children, who leave the ‘nest’, becomes large and expensive to maintain,” adds Castiglia. Given these dynamics, the RE/MAX Group expects that the change of house will have an increasingly greater impact in percentage terms on the total number of sales, favoring the transition from larger properties to smaller sizes.

Another trend, according to RE/MAX, will be the growth in demand for properties with small surface areas as an effect of the latest rate increases. Today, in fact, for the same installment you will be able to afford a mortgage of a lower value and this will inevitably lead to lower purchasing power. “Both these phenomena will contribute to a return of interest in small-sized houses, such as one- and two-room apartments, which lost appeal during the pandemic in favor of larger spaces, and which are now increasingly sought after, especially by young people who want leave the family unit to go and live alone,” declares Castiglia.

In addition to these new trends, in general, real estate will, obviously, be influenced by monetary policy interventions which will influence investors’ decisions and market performance in terms of number of transactions, volumes, returns and prices. A scenario in which the advice of competent and up-to-date real estate agents will increasingly represent added value for those who need to sell and buy a home. In line with this belief, for 2024, RE/MAX is aiming for a strategy strongly oriented towardshigh training of consultantsto the recruitment of the best professionals active on the market and on digitalisation which translates into the development of increasingly advanced technologies and tools to offer a customer experience easy and transparent.