Mortgages in Italy

To buy or to rent a home? It’s a question that’s always relevant for those searching for a new place to live, and even more so now, as mortgage rates are shifting due to the European Central Bank's rate cuts, making the buying option increasingly appealing in Italy.

The Agenzia delle Entrate (Revenue Agency) publishes the 2023 edition of the Omi Mortgage Report, which contains statistics on the number of mortgaged properties and the capital financed in 2022.

The interest rate hikes set by the ECB are having a tangible impact on the pockets of Italian households, so much so that one percentage point of wages in Italy would be eroded due to the hikes.

If you own a property in Italy and are planning to sell, there are many bureaucratic hurdles to get over, more so if the property being sold has a mortgage on it. Initial questions even include: can you sell a property with a mortgage?

Real estate purchases and sales in Italy, considering the first nine months of 2022, remain on the rise despite the drop recorded by ISTAT in the third quarter of the year; however, it is mortgages, loans and other bonds with real estate mortgages that are falling over the same period.

On 27th October 2022, the ECB once again increased interest rates by a further 0.75 per cent, bringing the total cost of money to 2 per cent, a level not seen for a very long time. What does this mean for mortgage repayments in Italy?

What happens when interest rates raise? How big a problem are higher interest rates for Italy? As expected, the European Central Bank raised interest rates by 0.75 per cent on top of the previous increase of 0.50, bringing the level to 1.25 per cent.

The years of average annual income needed to cover the price of a 100m2 property have increased in almost all Organisation for Economic Co-operation and Development (OECD) countries and in some of them almost doubled in the comparison between 2000 and 2020.

Before embarking on the multi-year adventure of a mortgage to buy a house, it is good to have clear ideas and know exactly what you're getting into. If you're planning to buy a property and therefore take out a mortgage in Italy, there are a few things it is good to know before contacting the bank.

Inflation and geopolitical tensions have put an end to the grace period of recent years on the mortgage front, and it looks like cheap mortgages in Italy are becoming a think of the past.

It is often said that in the world today it is harder and harder for youg people to get a foot on the property ladder. But many governments are moving to combat this issue, including in Italy.

Paying off your mortgage before it's due has its pros and cons.

If you're planning to buy a property in Italy, then you will likely need a mortgage. As a foreigner in Italy, this is something that varies depending on whether you're a resident in Italy or not, and in the case of mortgages in Italy for non-residents, the process generally requires more documents.

One of the biggest questions that people ask when moving abroad is if it is better to buy or rent a house in Italy? In 2021, all signs lead us to say that a mortgage beats rent.

Buying a house at auction in Italy can be a great chance to buy a new home cheaply, even if there are sometimes hidden pitfalls. Unlike in the other countries, such as the UK or USA, where choosing to sell your property at auction can be a really attractive way to get a good sale price, in Ital

Moving abroad and buying property in Italy can be a daunting experience, especially if you don't speak the language, or if you don't have the right advice or guidance.

The end of the summer, notably the month of September, was a positive period for mortgages in Italy during the COVID-19 pandemic, according to the latest report on Italian credit prepared by Experian.

The Italian government has released its latest set of measures to help the country recover in the midst of the COVID-19 crisis under another emergency decree.

The COVID-19 pandemic in Italy has undoubtedly had consequences for the real estate market, however for the moment, it's not blocking mortgage applications in the country.

Is it better to buy a house or rent? Both have their advantages and pitfalls and this eternal question is now even more relevant in Italy due to the coronavirus health pandemic, a changing real estate market and new trends in the market.

In 2019, the total for outstanding mortgages in Italy was the highest ever: it reached 332.418 billion euros.

With Italy's "Cura Italia" (cure Italy) decree law due to the coronavirus and in the midst of economic uncertainty, several measures have been introduced to help vulnerable and money stretched residents affected by the pandemic, including the possibility to request the suspension

According to Istat (Italian National Institute of Statistics) data, the average annual family income in Italy is 31,393 euros.

What were the mortgage trends in Italy at the end of March?

Have you agreed to take out a mortgage but the coronavirus crisis has got in the way of the paperwork? Or were you still considering what kind of loan to take out?