Industry revenue of “rental and operating of own or leased real estate“ in Italy 2012-2024

Revenues of the Italian rental and operating of own or leased real estate industry are projected to only witness marginal growth between 2018-2024. One of the main reasons for this is the rising prices of real estate in commercially important cities such as Milan and Florence, which have led to a decline in investments. The rising prices have also resulted in a decline in home ownership rates. In 2018, home ownership rates in the country only amounted to 72 percent, lower than most of the European nations. Higher rates have also affected the number of transactions in the residential real estate market, which have declined 15 percent in the decade leading up to 2018.

Moreover, the outbreak of the Covid-19 is set to further impact the industry in the medium term, as consumers are expected to curtail their discretionary spending. Lombardy, which was the most prolific region in the residential real estate sector in 2018, is the worst affected region in the country. Home sales in the first two months of 2020 are already down 12 percent in the region.

Industry revenue of “rental and operating of own or leased real estate“ in Italy from 2012 to 2024

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Sources

Supplementary notes

* Estimate - This also applies for past years as data provided by statistical institutions often is not available for more recent years.

Currency conversion factor: (EUR -> USD) = 1.123

The industry classification is based on the NACE Rev.2 - system in Italy. The industry “rental and operating of own or leased real estate“ has the code “L682“.

Details on the methodology can be found here.

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