Real estate market still behind in 2023. Home sales marked a further annual decrease, going from 589,486 in 2022 to 547,838 in 2023 (-7% to be precise), compared to the 628,137 transactions concluded in 2021. A situation favored by the interest rates, which have discouraged Italian families from taking out a mortgage.
In this case, the overall mortgages disbursed by credit institutions for the purchase of a home, to the point that the capital last year “decreased by over 25%, going from almost 71 billion in 2022 (already decreasing share, compared to the previous year) to just over 53 billion in 2023”.
These are the main data highlighted by Notarial statistical datathe traditional report relating to the sale of movable and immovable assets, mortgages, donations, businesses and companies drawn up and distributed by approximately 5,200 Italian notaries.
As for the granting of loans to buy a house, the dossier states that “the only positive ‘trend’ of the year is recorded among the population aged between 18 and 35, a sign that the fiscal support policies for mortgages for the ‘under36s’ actually worked”.
Lombardy first for sales
At a geographical level, the The North continues to take the lion’s share of purchasesand the Lombardy in particular with 19.52% of the total, compared to the entire national territory. Following, we read in the study, there are “Piedmont with 9.29% and Veneto with 9.11%”.
In the face, as underlined, of a global decline of 7% in trades in the last year, the professionals underline how “in the analysis relating to the type of property sold, it emerges that the decline in first home sales in 2023, compared to 2022, it is 10% for purchases from private individuals and 22.5% for purchases from businesses, while there is less suffering in the second home sector: the decrease between 2023 and 2022 was 2.4% in ‘purchases between private individuals and 2.7% in purchases from businesses’.
Finally, the notaries point out that “50.8% of residential properties were purchased with the first home subsidy“, but “this percentage is also decreasing, compared both to 2022, the year in which 53.12% of the properties were purchased with the first home subsidy, and to 2021, the year in which the percentage settled at 56. 05%”.
