Real estate market: high-risk transactions - all updated data
The real estate market is shrinking both in terms of mortgages and is also facing difficulties in recovery in 2024. This sector has been affected by a crisis in real estate sales, one of the main reasons for which has been the increase in interest rates on mortgage loans. Today, it is still difficult for citizens to find a mortgage with favorable interest rates.
In 2023, the real estate market faced a decrease in mortgage transactions compared to the previous year. INSTAT data showed a 16% drop in home purchases in Italy from April to June 2023. This negative trend affected both mortgage loans and real estate in general, with serious consequences for the sector's economy that persisted until the end of 2023 and continue to this day.
The decrease in mortgage loans and real estate transactions is due to the rise in interest rates.
The increase in housing prices has been observed in various regions of Italy, especially in the north. In particular, Milan and Turin are the cities where the highest price growth has been recorded. This factor, along with the rise in mortgage interest rates, has led to a downturn in the real estate market, especially in major Italian cities.
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