Property sales: market in decline in the first quarter of 2023
In the first quarter of 2023 the real estate sales dropped by 15% compared to the growth recorded in 2022. This is reported by i Nomisma datawhich report a forecast of the housing demand in contraction during the course of the year, in which the slowdown in the disbursement of new mortgages has a great responsibility. In fact, the latter trend has recorded a drop of 18% “in the light of high inflation that is struggling to recede” comment the Nomisma analysts.
Indeed, the Bologna study center estimates a very negative year for the sale of houses and for mortgage applicationsthe. Indeed, as the observatory reports: “After a substantial stability in disbursements (+1%), associated with a marked decrease in subrogations and replacements (-70%), a double-digit decrease is expected for 2023, both in new mortgages (-18% annually) both of subrogations and replacements (-47%)”. So after the sentiment general data also reveal that for Italians it is increasingly difficult to buy a house.
The number of trades becomes gradually lower ei loans granted by banks they are fewer and fewer: after the two-year period 2021-2022, which had seen great growth in the post-pandemic period, 2023 began with a sharp decline in real estate purchase intentions and loan requests.
Read also: Dear rents, Municipality and Metropolitan City of Milan towards the agreed rent
This summarizes the survey data Nomisma development manager, Marco Marcatiliwho adds: “The decline does not only depend on household confidence indicators, albeit down on the highs reached in September 2021, but also derives from the sudden tightening of customer selection criteria and more prudent lending policies“.
Subscribe to the newsletter