Mortgage interest rate in Italy Q1 2013-Q1 2022
Mortgage interest rates in Italy decreased substantially between the first quarter of 2013 and the first quarter of 2022. Over the period under consideration, the highest interest rates of 3.68 percent were recorded in the first and third quarters of 2013. After the third quarter of 2013, mortgage interest rates experienced a steady decrease, reaching a value of 1.66 percent as of the first quarter of 2022.
A slowly recovering market
Homeownership in Italy reached 72.4 percent in 2019, one of the highest rates in Western Europe. Low interest rates, especially when compared to other European countries, and decreasing house prices led to a renewed interest in the real estate market in Italy. Despite not reaching the pre-crisis levels, an increase in the number of transactions in the residential real estate market as well as the volume of mortgages stipulated for house purchase indicate a positive trend for the sector in Italy.
Milan, an attractive destination for investments
In recent years more than in the past, thanks to its role as a capital of business and finance as well as an innovation hub, Milan was able to attract human capital and investments, both domestic and foreign. This ability to grow and innovate was also reflected in the real estate market, which was the most dynamic in the country. Transactions in residential real estate in Milan increased steadily since 2012, with the exception of 2020, and so did prices: some areas of the city are among the most expensive in the country to buy a property.
A slowly recovering market
Homeownership in Italy reached 72.4 percent in 2019, one of the highest rates in Western Europe. Low interest rates, especially when compared to other European countries, and decreasing house prices led to a renewed interest in the real estate market in Italy. Despite not reaching the pre-crisis levels, an increase in the number of transactions in the residential real estate market as well as the volume of mortgages stipulated for house purchase indicate a positive trend for the sector in Italy.
Milan, an attractive destination for investments
In recent years more than in the past, thanks to its role as a capital of business and finance as well as an innovation hub, Milan was able to attract human capital and investments, both domestic and foreign. This ability to grow and innovate was also reflected in the real estate market, which was the most dynamic in the country. Transactions in residential real estate in Milan increased steadily since 2012, with the exception of 2020, and so did prices: some areas of the city are among the most expensive in the country to buy a property.
