In Bologna, home sales are down: The real estate market is slowing down.

Edit, February 22, 2024, 1:29 PM

In Bologna, fewer people are selling homes (and fewer are buying)? This conclusion can be drawn from the latest report published by the Tecnocasa Research Department, which analyzed data on purchases and sales provided by the Revenue Agency for the first nine months of 2023. In the capital of Emilia-Romagna, there were 4,144 transactions compared to 5,138 the previous year. This represents a decrease of more than 19%, making Bologna the second Italian city where the real estate market is slowing down the fastest, after Bari (-20.3%), alongsideRome (-19.3%) and ahead ofMilan (-16.8%).

Bologna is a city.

• Number of transactions in the first 9 months of 2022: 5138
• Number of transactions in the first 9 months of 2023: 4144
• Percentage change: -19.3%

Province of Bologna

• Number of transactions in the first 9 months of 2022: 7516
• The number of transactions in the first 9 months of 2023: 6270
• Percentage change: -16.6%

Ferrara is a city.

• Number of transactions in the first 9 months of 2022: 1513
• The number of transactions in the first 9 months of 2023: 1438
• Percentage change: -4.9%

Ferrara province

• Number of transactions in the first 9 months of 2022: 3054
• The number of transactions in the first 9 months of 2023: 2726
• Percentage change: -10.7%

Forlì is a city.

• Number of transactions in the first 9 months of 2022: 1224
• Number of transactions in the first 9 months of 2023: 1058
• Percentage change: -13.5%

Forli province

• Number of transactions in the first 9 months of 2022: 2714
• Number of transactions in the first 9 months of 2023: 2150
• Percentage change: -20.8%

Modena is a city.

• Number of transactions in the first 9 months of 2022: 1910
• The number of transactions in the first 9 months of 2023: 1655
• Percentage change: -13.4%

Modena province

• Number of transactions in the first 9 months of 2022: 5947
• The number of transactions in the first 9 months of 2023: 5019
• Percentage change: -15.6%

The city of Piacenza

• Number of transactions in the first 9 months of 2022: 1243
• The number of transactions in the first 9 months of 2023: 1162
• Percentage change: -6.6%

Piacenza province

• Number of transactions in the first 9 months of 2022: 2230
• Number of transactions in the first 9 months of 2023: 2046
• Percentage change: -8.2%

Parma is a city.

• Number of transactions in the first 9 months of 2022: 2581
• Number of transactions in the first 9 months of 2023: 2111
• Percentage change: -18.2%

Parma province

• Number of transactions in the first 9 months of 2022: 2891
• Number of transactions in the first 9 months of 2023: 2752
• Percentage change: -4.8%

Ravenna is a city.

• Number of transactions in the first 9 months of 2022: 2347
• The number of transactions in the first 9 months of 2023: 1983
• Percentage change: -15.5%

Ravenna province

• Number of transactions in the first 9 months of 2022: 2634
• Number of transactions in the first 9 months of 2023: 2137
• Percentage change: -18.9%

Reggio Emilia is a city.

• Number of transactions in the first 9 months of 2022: 2073
• The number of transactions in the first 9 months of 2023: 1739
• Percentage change: -16.1%

Reggio Emilia province

• Number of transactions in the first 9 months of 2022: 3739
• Number of transactions in the first 9 months of 2023: 3167
• Percentage change: -15.3%

Rimini is a city.

• Number of transactions in the first 9 months of 2022: 1452
• Number of transactions in the first 9 months of 2023: 1124
• Percentage change: -22.6%

Rimini province

• Number of transactions in the first 9 months of 2022: 1815
• Number of transactions in the first 9 months of 2023: 1593
• Percentage change: -12.2%

A total of 507,879 residential homes were sold in Italy, which is 11.8% less than in the same period of 2022. If we look only at the third quarter of 2023, 157,024 residential homes were sold in Italy, corresponding to a decrease of 10.4%. One fact is not enough to understand whether the Italian and Bologna real estate markets will continue to cool down or if this is just a temporary fluctuation. As Tecnocasa explains, "the increase in selling time, more interaction between parties, and reduced affordability for those resorting to credit: all of this will depend on the state of the economy, family confidence, and the situation in the credit market in light of the current rise in interest rates."

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