Trade correction in 2023: latest INSTAT data.

The latest data from INSTAT (National Institute of Statistics) shows a decrease in notarized sales and other transactions related to real estate transfers in the first quarter of 2023. Let's try to understand what the latest study tells us and what is the situation of sales in Italy.

Data from the first quarter of 2023

In the INSTAT analysis, in the first half of 2023, notarized sales transactions decreased by 5% compared to the previous quarter and by 11% on an annualized basis. As regards notarized agreements for mortgages, financing and other commitments with the setting of mortgages, here the decrease is 12.6% compared to the previous quarter and 31% on an annualized basis.

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In any case, this''property transfers for residential properties, 5.9% for economic properties, and just 0.3% for special agreements and multidoles. While on the one hand, real estate transactions decreased by 11.6% compared to the first quarter of 2022, the positive data came from the economic sector, which registered an increase of 1.6%. In any case, the decline in the real estate market in the first quarter of 2023 follows the negative results of the third and fourth quarters of 2022 and emphasizes the contraction of the leading sector, residential, as indicated by INSTAT.