Finally positive signs in Sicily for the world of mortgages for home purchases: according to the analysis of Facile.it And Mutui.itin the first four months of 2024 the request for financing increased by 13% compared to the same period in 2023.
Get back to grow Also the average requested amount you are trying to obtain: arrived at 113,736 euro (+2.6%), the average value of properties subject of the loan (166,992 euros+1%) e fixed rates fall.
The trend in the Sicilian provinces
Analyzing the mortgage requests collected in Sicily between January and April 2024notable differences emerge at the local level.
Palermo stands out with the highest average amount (121,825 euros), followed by Catania (114,192 euros).
Palermo
Catania
The provinces of Ragusa (111,014 euros), Trapani (109,321 euros), Messina (109,063 euros), Agrigento (108,008 euros) and Syracuse (106,476 euros) show values lower than the regional average. They close the ranking Enna (102,270 euros) e Caltanissetta (98,400 euros).
Profile of the mortgage applicant in Sicily
Analyzing a sample of over 19,000 mortgage requests collected online in Sicily it emerges that those who applied for financing in the first 4 months of the year have aimed at obtaining an average of 113,736 eurosan amount increasing (+2.6%) compared to the same period of 2023.
The average value of the mortgaged property also increased slightly, which reaches 166,992 euros (+1%). The duration of the mortgage drops from just over 24 years to just over 23 and a half years, while the average age of applicants reaches almost 40 and a half years (up half a year compared to 2023).
Limiting the analysis only to mortgage requests for the purchase of a first home, it emerges that the average amount requested in Sicily in the first 4 months of 2024 it was equal to 114,201 euros, slightly increasing (+1.6%) compared to the same period last year. The average value of the property remains unchanged, equal to 149,412 euros.
It grows slightlyInstead, the average age of the applicant (38 years old), while the duration of the repayment plan decreases (25 and a half years).
The offer and rates
On the front ofofferFacile.it found that in the first four months of the year the conditions proposed by the banks were overall favourable, in particular for fixed rateswith declining indices driven by the decrease in the IRS.
Looking at the best offers available today for a standard mortgage of 126,000 euros over 25 years (70% LTV), the fixed rates they start from a TAN equal to 2.87%, i.e. a monthly installment of 589 euros.
Even more advantageous indices for the so-called Fixed rate green mortgages (for properties in class A or B): in this case the rates start from a rate TAN equal to 2.65% with a monthly installment of 574 euros.
The improvement in conditions also concerned fixed rates on subrogation: today, those who want to change banks can find offers with TAN indices which, for an average mortgage, start from 3.05% equal to an installment of 600 euros (which drops to 578 euros in the case of green subrogation).
Still out of market instead the offer of variable rates: the best rates start from 4.60% and an installment of approximately 708 euros.
Subrogation requests are also growing (the operation which involves transferring the mortgage to another bank that offers a more advantageous interest rate and conditions), driven by the favorable conditions offered by banks for fixed rates: between January and April 2024 this type of question has represented the 21% of the total Sicilian, in increase of almost 5 percentage points compared to the same period of the previous year.
“2023 was a complex year for the mortgage market, hit by the increase in interest rates and by less economic availability on the part of families, already struggling with the increase in inflation», explain the experts at Facile.it.
“2024, however, started positively, with increasing demand, driven above all by the improvement in the conditions offered by banks for fixed rates, which has generated greater confidence among consumers towards the future” conclude the experts from Facile.it.
