By collecting and updating the data which must now be provided on every sale / letting contract, the territory of the Italian Republic has been divided into micro district, smaller areas with homogeneous market values / characteristics. In the case of buildings, for each of such smaller areas the market and letting values are given as a maximum / minimum range in Euro per square metre, per month in the case of letting values.
Agenzia del Territorio are the first to warn that the data from their data banks cannot replace a professional property valuation. However the data in question, which is now frequently updated, is a useful indication of the likely up to date market values.
Following the basic system of the Italian land registry, the data banks relate either to buildings (Fabbricati) or separately, to farming land (Terreni).
The databank relies on the established, main classification of Italian buildings according to their nature / use (“Destinazione”) as follows:
i) “Residenziale” (residential accomodation), which, in turn, includes:
“Ville / Villini” (Villas / cottages),
“Abitazione signorile” (Luxury accomodation),
“Abitazione civile” (Ordinary accomodation),
“Abitazione economica” (Cheaper accomodation) and
“Abitazioni tipiche dei luoghi” (Accomodations which are tipical of the district).
ii) “Terziaria” (mainly offices)
iii) “Produttiva” (mainly industrial premises)
iv) “Commerciale ”(mainly shops), and
v) “Parcheggi” (parking facilities).
For each micro district with similar market values and for each class of buildings listed above, minimum and maximum values are provided per square metre. Within a city / large town the areas are frequently classified as “Centrale” (Central), “Semi-centrale” (Almost central), “Periferica” (Outskirts), “Suburbana” (External areas) and “Rurale” (Rural areas). For larger cities references are made to quarters / main roads /city districts.
This databank is called “Quotazioni Immobiliari OMI” where OMI stands for “Osservatorio del Mercato Immobiliare” (Observatory of the Property Market), and is accessed from Banca dati delle quotazioni immobiliari – Ricerca.
In order to carry out a search, first of all, you will need the following information for the area / building you wish to research:
1) Provincia (Main district)
2) Comune (Local council)
3) Fascia – zona (Local sub-district)
4) Destinazione (classification of the building as stated above).
Once you are on the “Quotazioni Immobiliari OMI” website you should click on “Consultazione Quotazioni Immobiliari ” section (start your search) further down the page and then select the main district (“Provincia”) which may be applicable to your search ( by clicking the small arrow next to “AGRIGENTO” a menu will appear).
You will then be asked to select the “Comune” (Local town council). Then, by clicking “Avanti” (proceed) you will be given the choice of a number of smaller areas (“Fascia – zona”) where any particular building / the area you are interested may be located. The choice here is frequently by reference to a sub-district, a main road or a local area. You should click on / select the relevant smaller area.
You will then asked to define the classification / nature / use (Destinazione) of the buildings you are looking for (Residenziale, Terziaria, Produttiva etc. – see above). You should select the relevant classification, which may apply to your search.
This will result in the available data being disclosed, in selling and letting values per square metre.
If in doubt, you should consult your Italian title deed, to retrieve all the information required to carry out a search.
As an example, if you wish to search the current values for a property / building near Castelgandolfo lake, you will need to enter:
1) “Consultazione Quotazioni Immobiliari” – To start your search
1) “Provincia” – Roma
2) “Comune” – Castelgandolfo
3) “Fascia – zona” – D1/Periferica/ LUNGO LAGO (outskirts near the lake)
4) “Tipo destinazione ”- Residenziale or Terziaria or Produttiva etc. (residential accomodation, offices or shops – whatever may be of interest,
and eventually you will get to the relevant values / information.
Very helpfully, Agenzia del Territorio have provided a far more intuitive, alternative way, of effecting a market values search.
If you go back to “Quotazioni Immobiliari OMI ” and you click on “GEOPOI Servizio di consultazione cartografica delle quotazioni ” further down the page, you will be able to select the sub/district, smaller area with homogeneous market values, by scaling down your search, starting from a map of Italy.
You will need to learn to use the rather sophisticated controls in the top right hand window, and scale down your search down to the relevant micro area / sub-district with homogeneous values, which on the larger maps is represented by areas with the same colour.
If you will click on the area you are interested, represented by the same colour on the smaller scale map, a window will open on the top right hand, and again you will be asked to chose, whether you require values for residential areas (“Residenziale”), or shops (“Commerciale”) etc. You should then obtain the market values required.
Alternatively, and still on “GEOPOI Servizio di consultazione cartografica delle quotazioni “, if you will click “Ricerche” next to the smaller map of Italy on the top right hand of your monitor, you will have the opportunity of just entering the postal address of the relevant property / building. And the values will be automatically displayed.
B) AGRICULTURAL LAND
The Italian land registry (Agenzia del Territorio) provides a list of average agricultural values (Valori agricoli medi ) for farming land, mainly used in expropriation proceedings. When private land is bought by the authorities in the public interest, in order to build or improve roads, public buildings etc. these values are calculated and recorded.
The search starts from the “Valori agricoli medi ” section of the Agenzia del Territorio`s website.
Also in this case there are two ways of carrying out a search. It is possible to click on a map of the Italy and to scale down the search by selecting the relevant district / local authority (Comune).
Alternatively, it is possible to select the relevant region “Regione” from a list and then scale down the search to the main local council (Comune).
Values are provided separately, for the years 2005 to 2010. It is important to note that these are average agricultural values, and may be less precise / detailed than the equivalent data for buildings.
Useful information, which however, will always need to be adjusted considering the location, quality and conditions of the particular property / building considered.
Avv. Claudio Del Giudice
Copyrights reserved – 08.07.2011