Tuscan real estate remains my preferred investment. Good time to buy! 

The Bank of Italy just published the latest results of her brokers’ survey about the conditions on the real estate market. This is a quarterly survey on the brokers’ experience in the past quarter and their expectations about the development of the demand and prices.

In short, the results again confirm that the moderate recovery is continuing. Notable is that for the first time since the third quarter of 2010 the balance of the expectations regarding the evolution of the national real estate market is significantly positive (8.1 percentage points against about 

zero in the previous survey). What’s more, optimism for the medium term (two years) has increased: the share of expectations of improvement has increased to 55.9 percent (from 53.1 in October), against a decrease of those expecting stability, and of those expecting a deterioration (from 12.1 to 10.5 percent).

OK - while the real estate broker may generally be more optimistic than pessimistic - like stock market analysts - it is nevertheless evident (also if seen over the longer period) that the real estate market has definitely improved. 

Again, my conclusion, a good time to buy! In particular - and this is even more important - as very attractive properties are available on the market.

NB: Dear stock market investors: The survey also shows that it is definitely wrong to say that the private real estate market offers just emotional return and not much more. Rather, what is evident is that the private real estate market in the recent past offered a much higher return that the stock market. And - I would like to underline - the emotional return comes in addition, is MUCH HIGHER …. and remains untaxed!!