Bare ownership is one of the forms of real estate sales existing in our country. In other words, full ownership of the house is split into two parts: the usufruct on the one hand and indeed the bare ownership other.
The actors involved in this real estate transaction on the one hand they are the elderly, usually without heirs, who want to stay and live in their home but put a few hundred thousand euros in their pockets to live in dignity until the end of their days.
On the other hand, people who are not in a hurry to buy monetize their investment. The ideal would be, by way of example only, a young parent who buys with a long-term perspective for their children.
Click here to read a series of in-depth articles on bare ownership.
The data of the last Residential real estate report created by the Real Estate Market Observatory of the Revenue Agency in collaboration with ABI they tell us that in the 2020, the year of the coronavirus, the volume of sales of the right of bare ownership for housing in Italy, is decreased compared to 2019 of 13,1%.
There is a similar trend between geographical areas, ma in the South the percentage is slightly higher than the national figure, -15,9%, while in the Islands it comes to -7%. One third of trade is concentrated in the North West (Figure 15) dove the recorded decrease is of almost 15%.
From the reading of the trend in the number of sales of bare ownership, (compare with the number of traditional trades since 2004 al 2020), the growth in their volume is evident up to 2006, the descent up to 2009, the best holding of the market in the capitals up to 2011.
In 2012, as for the purchase and sale of full ownership, the generalized collapse of bare ownership is evident without distinction between capitals and non-capitals. From 2014, the series highlights a trend reversal with increases for both markets, but definitely more pronounced for purchases of full ownership.
The bottom lines of the cycle approximate that of the main market, particularly in the descending phase, while the recovery is significantly slower for the bare ownership market e, in the latest survey, it is evident that the new contraction is more pronounced than the full ownership market, thus increasing the gap between the two series.
For both figures involved in this type of real estate transaction however, it is advisable to entrust in advance to a notary or a lawyer, even when a real estate agent is involved. In fact, there are many technical aspects (tax, insurance, etc..) to keep in mind.
Alex Gaetani
To get a first idea of usufruct, use and home I point out some ebooks: