The Italian real estate market collapses, -10% in 2023. With the high interest rates, the use of mortgages for purchases falls to a minimum.
In the fourth quarter of last year the share of homes purchased using a loan fell well below 40% (to 37%), for the first time since 2021. The average interest rate, established upon signing the mortgage deed, reaches 4.51%, increasing again after the slight decrease recorded in the previous quarter. The debt capital, again referring to the amount contracted by natural persons to purchase homes, amounts to approximately 9.3 billion euros, approximately 2.3billion euros less than the equivalent quarter of 2022.