Bare ownership: Idealista.it data confirms increased interest

Interview with Antonio Giordano, co-CEO of Idealista

Today we are talking about a growing trend in the residential market: bare ownership. Does Idealista confirm this growth? If so, since when?

"Absolutely yes. The growth in interest in bare ownership is evident and also confirmed by our internal data. Since the end of 2023, we have seen an increase in listings and transactions using this formula.

The most significant figure is that, at the national level, bare ownership accounts for about 0.6% of the total stock of residential listings—a share that may seem small, but in a generally static real estate market, it indicates a growing dynamism toward alternative formulas.

In particular, we note that this formula is becoming a strategic choice both for older sellers seeking immediate liquidity and for young investors or families looking to purchase properties at controlled prices, with a medium- to long-term time horizon. The current economic context, with higher interest rates and less easy access to credit, has certainly accelerated this trend.

Data from Idealista's Research Department shows a 7% increase in the supply of bare ownership properties in Q4 2024 compared to the same period last year, confirming a trend in the market, even though we are talking about a segment that is still rather small, representing just 0.5% of the supply currently on the market, to give an idea of its size.

According to your analysis, which areas have the highest demand and supply for bare ownership properties?

The data analyzed shows that the highest concentration of bare ownership properties is found in markets that are under the most pressure in terms of demand and have a consolidated real estate market.

Emilia-Romagna stands out with about 39% of transactions, followed by Lazio, Lombardy, Piedmont, and Tuscany. At the provincial level, cities such as Milan, Bologna, and Rome also show a high incidence, thanks to the combination of high housing demand and long-term properties owned by long-time residents.

An interesting fact that emerged from our datasets is the presence of bare ownership listings even in traditionally less liquid areas such as Agrigento, where bare ownership is still a small niche (only 0.03% of the residential market), but with growth potential linked to local demographic aging dynamics."

What are the most common types of properties available for bare ownership?

"Three-room and two-room apartments account for the largest share of bare ownership offers, reflecting the typical configuration of Italian retirees' homes, often located in urban or semi-urban contexts. Our database shows that apartments alone account for approximately 85% of the bare ownership stock available, with over 3,900 active listings nationwide.

This consideration, added to the evidence that the offer is concentrated mainly in particularly attractive and driven markets, characterizes this phenomenon as a metropolitan phenomenon, affecting only marginally the more ‘peripheral’ areas of the country, characterized by greater availability of housing at affordable prices for most buyers.

We are also beginning to see offers for chalets and detached properties, especially in tourist areas. This diversification could expand in the coming years, following growing interest in housing solutions outside large centers and more oriented towards quality of life."

To conclude, what is your analysis of the future of the real estate sector in terms of supply and demand?

The Italian real estate sector is undergoing a period of profound restructuring. Demand has remained strong, even in 2024, but has become much more selective, favoring energy-efficient properties located in urban areas.

We will see a polarization of the market: on the one hand, quality properties that quickly attract interest; on the other, a large stock of outdated, unrenovated homes that are difficult to sell, partly due to the major changes in lifestyles and living habits that our society and the real estate market are grappling with.

In this scenario, the Italian real estate market will have to adapt to a more evolved demand, characterized by the search for quality, sustainability, and functionality. At the same time, supply will have to respond with greater attention to the redevelopment and enhancement of existing assets in order to combat obsolescence and keep the market dynamic and competitive.

Alternative formulas such as bare ownership are emerging as flexible tools to rebalance this imbalance. It is likely that, in the coming years, we will see a professionalization of this segment, with the emergence of new financial instruments and tailor-made contractual models, such as hybrids between bare ownership and rent-to-buy.

In summary, the future of the Italian real estate market will be marked by the ability to adapt to the needs of a more dynamic and aware user base, and by instruments such as bare ownership, which represent an effective synthesis of liquidity, accessibility, and investment.

I believe that with the progressive aging of the population, Italian families will find themselves facing the care needs of their elderly parents for increasingly longer periods, and sometimes the solution to the costs of care could be bare ownership, with a clear increase in this phenomenon at the national level.

Finally, looking to the future, we see sustained, more selective, and evolved demand, favoring energy-efficient properties located in well-served and safe areas.