In Sicily there are 36,318 properties for sale at auction, of which 2,590 in Palermo. Many are registered on the public sales portal of the Ministry of Justice. Furthermore, the island is the second region in Italy, behind Lombardy, in terms of number of auction houses awarded: 7,547 against a national average of 2,897 awards. The data, which refers to 2023, were released by Confimprese, according to which “the situation raises social alarm”. A situation similar to the one that a few years ago caused a series of suicides among people, especially small indebted entrepreneurs, who lost their homes at auction.
To throw a lifesaver to families and businesses overwhelmed by the economic crisis, by the increase in mortgage costs, by debts and by bankruptcy procedures, who risk no longer having a home to return to, Confimprese is working on a “save home” which is based on two cornerstones: allowing the indebted person to continue living in his home; stipulate a contract that allows you to buy back the house. The initiative, which will be launched from Palermo on July 15th, is supported by a group of entrepreneurs: “The negotiations are at a good stage, as is the search for financial partners”, says Giovanni Felice, national vice-president and regional president of Confimprese.
“It is important to intervene as happened in the United States after the 2007 crisis and study the way in which the owner can retain the availability of the property even in the form of rent and then subsequently buy it back”, continues Felice. For Guido D’Amico, president of Confimprese Italia, “it is necessary to give confidence to avoid desperate gestures” given that a possible increase in judicial auctions is expected in 2024, with an estimated number of between 160 thousand and 180 thousand (+12% compared to 2023). Furthermore, in recent years, the value of properties put up for auction has decreased. With the result that the creditor manages to recover on average 43% of the credit and the debtor – in addition to losing the house – still remains exposed to 57% of the debt.
Data which, according to the employers’ union confederation of small and medium-sized enterprises, demonstrate that “the debt restructuring procedures are not sufficient to guarantee the debtor the ownership of the property nor the possibility of continuing to live in the house of residence, although they represent a valid instrument for the protection of citizens”.
