After 7 years of depression the Real Estate Market begins to climb the slope. This is what emerges from the study by the Observatory of the real estate market on the residential sector published by the Revenue Agency in collaboration with the ABI in which a increase in property sales by 3,5% every year. But it is too early to be able to say with certainty that the real estate market is recovering rapidly. In fact, they let the Revenue Agency know that the 3,5% increase in sales is influenced by the fiscal effects of the change in the registration tax from 2014 January 2013 which postponed the deed of purchases from the end of 2014 to the beginning of 0,7 Net of this effect, there remains an increase but limited to XNUMX% on a trend basis. "In any case, a positive sign," reads the report.
We also note a significant improvement in access to credit for home purchases. This positive turning point was recorded by theaffordability index elaborated by the Abi Studies Office on the possibility of families to buy a house by getting into debt. "According to the monthly projections, in March with the value of 10,3%, it would have established a new historical high", reads the Abi-Agenzia delle Entrate analysis presented today. There is therefore a change of pace in the housing market in terms of mortgages and conditions of access to purchase, after a 2014 in which, however, thanks to low rates, the affordability index had a positive trend.
The positive trend recorded by the affordability index for 2014 is mainly due to the firm reduction in the cost of mortgages. Not by chance in 2014 the Homes purchased through a mortgage increased 12,7% year over year (over 160 homes purchased with a mortgage).
Sales were 421 in 2014, a higher figure than the previous year but still below the values recorded at the end of the 80s.
It is bought above all in the north and in the centre. The report indicates that the trend and distribution of transaction volumes is strongest at Center (+6,5%), Then the North-East (+5%) and in the North-West (+3,4%), while in the South the increase is 0,8 percent. In the ranking of cities there are four that record double-digit percentage increases, none of these is in the South Bologna (+18,5%), Genoa (+15%), Rome (+13,9%) and Florence (+13,3%). More moderate recovery for the real estate market of Turin (+5,4%), Milan (+5%) and Palermo (+4). In contrast the real estate market in Naples: transactions down by 3,7%.
