by Andrea Rossetti
From approximately 1,300 in 2021 to 1,618 in 2022: these are data regarding real estate auctions administered by the court in Bergamo in the first four months of the last and current year. Figures confirming two data: First of all, the fact that this sector of the real estate market, which has grown enormously in the last decade (currently a value of about ten percent nationally), has started to run again after the inevitable stop on because of Covid; and then the fact that Bergamo remains one of the provinces with the highest number of completed property auctions.
According to data from the Cherry Brick company, reported by Eco of Bergamo, in the first four months of 2022, Orobic province is number two in Lombardy for the number of auctions completed, only after Milan (with 2,115), and fourth in Italy, where Rome and Catania precede, in addition to Lombard’s capital. If, on the one hand, it means that there is interest in this market and that there are many who are willing to invest in a sector that is not very easy (due to the high bureaucracy it is characterized by) to access but potentially also very profitable, from ‘others could also mean that the province of Orobie has a high number of subjects who are unable to repay their debts and therefore end up losing their properties.
The full list of homes for auction until August is on Before Bergamo at newsstands until Thursday 21 July, or in digital edition HERE
In fact, as he explained to the city newspaper Laura De Simonechairman of the II Civil-Bankruptcy Section of the court in via Borfuro, things are not exactly like this: in our province there are certainly higher bankruptcy rates than in other parts of Italy and Lombardy (there are after all many companies…), but the increase in the number of auctions carried out over the last twelve months, which have in fact been identifiable for several years now, is mainly related to the excellent work of streamlining the procedures carried out by the relevant offices of the Court. .
In other words, in via Borfuro it is possible to complete the various steps required to complete an auction faster and it allows for many more sales. Covid had apparently slowed everything down, both because it had forced court staff to work from home and because, trivially, the auction properties could not be visited and therefore without inspections, sales increased or slipped. For a year and a half now, however, the situation has been unlocked and the car has returned to driving at full speed, or almost.
All this gives a good boost to the real estate market in Bergamo. After all, as mentioned, auctioning is an increasingly popular buying method. The reason is simple: usually cheaper prices. If someone is interested in doing business or investing in a property without breaking the bank, auctions are the best option. On average, the two-bedroom apartments offered at auction actually have in the city a base price of forty thousand euros. And if you move from the city to the province, the auctions can become even more interesting. If you make a rough calculation, the savings range from a minimum of twenty to a maximum of fifty percent.
At the same time, however, we must be aware of the possible risks that arise. For this reason, in case you are not an expert, it is advisable to move with caution and let yourself be assisted by a professional (a lawyer or a notary). The full list of properties on auction in Bergamo and its province can be found on the court’s website. According to the law, the sales announcements are accompanied by the judge’s order, the property valuation report, any photos, the base price and the date and time when the envelopes with the offers will be opened. Below we publish the list of all the houses auctioned in Bergamo from now until the end of August. You may find something interesting (there are objectively possibilities).