The report on the residential real estate market produced jointly by the Revenue Agency and the Italian Banking Association has always presented the most reliable snapshot of the trend in sales, mortgages and rentals. The 2024 update has now been published, which presents the final data from last year. Let’s look at the main highlights.
The first data, however, already made known in March, concerns the trend of transactions: 709,951, with a decrease of 9.7% compared to 2022. A less serious figure than what was expected because the decreasing trend slowed down significantly in the last quarter of last year and which in any case should be read taking into account that 2022, thanks also to the effect of the queue of sales that remained behind due to Covid, had recorded an absolute record of transactions.
The average size of the homes decreased very slightly, falling to 106.1 square meters compared to 106.8 the previous year. As regards the major Italian cities, Rome recorded a decline of 14.4%, Milan by 13.2%, Naples by 7.8% and Naples by 4.4%. In Rome and Milan the provincial municipalities perform slightly better than that of the capital. The average home sold in Milan measures 81 square metres, in Rome it rises to 92.4.
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