Real estate, a 10.7% drop in sales is expected for notaries
At the end of 2023, a drop in the real estate sales market of 10.7%, compared to 2022. In the meantime, the first two months of the year already sees a drop of 2.7% at national level. Ansa learns it from the National Council of Notaries. Despite the general decline in home purchases, there are positive values ”in Turin (+3.26%), Bologna (+2.88%), Bari (+1.14%) and Palermo (+2.11%) ”, badly, however, Milan (-3.74%), Verona (-1.45%), Rome (-2.09%), Florence (-5.28%) and Naples (-14.9%) .
Furthermore, the first two months of the year saw a mortgage collapse for home purchases: the percentage decrease was, in fact, 23.56%, compared to the same period in 2022. In January, the professionals explain, “the decrease in bank loans was 15, 8% to accentuate in February, with a decrease of 29.3%. Recalling the trend of the sales market which, however, marked a decrease of only 2.72% in the two months (+5.43% in January and – 8.68%) – it is reported – it is impressive how the number of mortgages granted, and the disbursed capital in percentage terms is down sharply, as if to highlight the fact that people are buying houses more with their own capital than in the past, due to the sharp increase in interest rates”.
Consequently, “even the number of natural persons who have taken out a mortgage (-21.15%), going from -19.3% in the 18-35 age group to a peak of 33.3% in the 66-75 age group”. The notaries then highlight how, “despite the 23.56% drop in the number of mortgages (from 61,581 in the first two months of 2022 to 47,070 in the first two months of 2023), the reduction in disbursed capital is actually lower and is equal to 20.7% (from 10.2 billion in the first two months of 2022 to 8.1 billion in the first two months of 2023).
The difference between these two percentage data is given by a lower reduction equal to 8.46% of mortgages granted for amounts exceeding 500,000 euros, compared, for example, to -20.9% in the range 100,000 – 150,000 euros and the – 30.2% of the 150,000 – 200,000 euro range”.