The braking can now be felt. Mortgage rates continue to rise and brick prices remain high: the real estate market slows down and records a decline of 8.7% in the first half of 2023 and projections say that at the end of the year it will reach 10.5 %. On the island, where almost 31 thousand sales were recorded in 2022, the decline could translate into around 3 thousand fewer transactions.
The dossier
The report from the National Council of Notaries highlights negative peaks of 9.6% in Rome, 10.3% in Florence and 12.4% in Bari. And even worse were the mortgages taken out to become owners, reduced by almost 30%. % due to the growth - of which there is no end in sight for now - in interests. At the moment the fixed rate is above 4%, at the highest since 2012. And so in the first half of the year overall home sales went from 303,375 to 277,052 at a national level, if compared with the same period in 2022.
«To defeat inflation we have created a worse problem, with current rates no one can afford a mortgage, in some cases the installments have almost doubled compared to two years ago. Europe must reflect", notes Pierpaolo Tilocca, regional president of ANCE, the builders' association.
Prices
Also because we must consider that in Italy, according to Istat, housing prices are not slowing down. The latest report (second quarter of 2023) shows a growth rate of 2% compared to the first part of the year.
Michele Ruffi
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