Thanks to repeated cuts in the cost of money by the European Central Bank, i Interest rate On silence They are constantly falling. Loans to buy a house in Italy were not as easy as they are now in the last two years, but the trend of the real estate market is making it very difficult for families to buy a house.
According to research office data TechnocasaIn our country they are required on average. 6 years 6 months salary Be able to afford a house. The situation is getting worse in big cities: in Milan, it has become prohibitive for families with incomes below the national average to buy an apartment.
Mortgages increasingly easy: Interest rates are falling.
Data released by the Bank of Italy indicated a drop in interest rates on mortgages in Italy in September. On average, banks provide loans for home purchase. 3.83%. This is the lowest rate since 2022, while the cost of borrowing for businesses falls more slowly, to 4.9%, the same as in May 2023.
“This is good news for families who have access to financing to purchase their first home Downward trend “Mortgage interest rates, which fell 1.1 percent overall over 10 months, fell to 3.82 percent in September from a record 4.92 percent in November 2023,” commented consumer association Codacons.
The drop in interest rates was a result of the reduction in the cost of currency implemented by the European Central Bank. Frankfurt is trying to stimulate the European economy, which has overtaken it. The problem of inflation But it’s growing very little compared to the race in particular. The United States This stimulus policy is expected to continue in the future and as a result, mortgages will become less expensive for citizens.
It is still prohibitive for families to buy houses.
Although mortgages are increasingly accessible, research office of Technocasa It turns out that Italian families are still struggling to buy a home. About two-thirds of households who want to buy a home give up because of financial problems.
These odds are quantified by the number of paychecks required to pay off the average house. It takes 6 years and 6 months to buy a house in Italy, but that’s just an average number. In the big cities, especially in the north, the situation is much worse.
- You need 12 years and 6 months of salary to buy a house in Milan.
- You need 9 years of salary to buy a house in Rome.
- You need 8 years and 9 months of salary to buy a house in Florence.
Instead, it’s much more accessible Genoa. e Palermo, Among the least expensive cities in Italy in terms of real estate market. In both cases three years and three months salary is enough to buy a house. However, the situation is not the worst in recent times. Actually, in 2007, before the financial crisis, to buy a house Roma About 15 years of salary was required, while a Milan A minimum of 14 was required in 2019.
