Italian Residential Snapshot | H1 2024
The Italian Residential Market Performance in H1 2024
- Francesca Fantuzzi
- Flavia Ferri
Key takeaways:
The Italian economy is expected to grow by 0.8 % in 2024
Falling inflation and an easing monetary policy environment, with the ECB cuts underway, look like will deliver further improvements to the growth outlook as we move into 2025.
Declining mortgage rates projected to stimulate housing market recovery
The second quarter of 2024 saw a slight recovery in the number of house purchases and sales in Italy +1.2%. Lower interest rates on mortgages may favour a stronger recovery in the coming quarters.
Multifamily and PBSA continue to attract investors
Despite the slowdown in volumes, the residential sector in Italy is emerging as a promising asset class. Interest in purpose-built student accommodation (PBSA) remains strong. In the multifamily segment, we observe a growing interest in short-term rentals, which is evolving into a new sub-asset class.
