How many years of salary is needed to buy a 100 square meter house in Italy?

July 18, 2023, Editorial. How many years do you have to work to buy a house inMilan? How many inRome, Florence or Bolzano? A survey conducted from April 11 to April 18, 2023 by Ener2Crowd.com, an Italian crowdfunding platform for environmental and energy lending, looked at the average time needed to buy a property, taking into account new parameters that show a worse situation than expected. Let's find out in which city you need to work the longest to buy a house.

Buying a house with an unstable contract puts young people in an uncomfortable position. The study, based on Istat data, analyzed in detail the situation in 107 cities, calculating the ability to save, the average real estate prices in March 2023 and the average time needed to buy a property of 100 square meters.

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The result shows that before the 1970s, even a factory worker with an average salary of 50,000 lire per month could afford to buy an apartment in a central neighborhood in about 20 years, while today they would not be able to do so even in 40 years. The scenario examined by Ener2Crowd.com increasingly distances young people with an unstable contract from the possibility of buying an apartment, and when they manage to do so, they are forced to take on a lifetime of debt.

How many years do you have to work to buy a house.

Analyzing the number of years of salary needed to buy a house in different Italian cities, in Milan it would take as much as 50.3 years, even more in Lucca (51.3 years), Savona (55.6 years) and Bolzano (63.1 years). These very long periods are related to the current labor market, low and variable earnings, also in Florence (49.3 years), Sassari (49.1 years), Imperia (48.3 years), Grosseto (46.6 years), Rimini (44.5 years), Rome and Aosta (43.7 years in both cities). The time is relatively long even in cities where property prices are much more affordable, such as Biella (60,900 euros) or Caltanissetta (69,200 euros), where 9.6 and 12.4 years would be required respectively.

Areas where buying a home takes the longest time.

On average, a 50-year salary is required to buy a house in Trentino Alto Adige, which is roughly in line with Valle d'Aosta (43.7 years) andTuscany (40.7 years). Also in the top 5 are Liguria and Lazio, where it will take respectively 40.4 and 39.7 years of salary to buy a house, while Lombardy ranks sixth with 33.6 years, after Sardinia (39.4 years).