(Finance) – The drop in trades observed in the third quarter of 2022 in Italy does not absorb the increase in the first half, so i first nine months of 2022 still mark one 5.2% recovery compared to the same period of 2021. This was communicated by Istat, underlining that the growth regards housing (+5.2%) and the economy (+6.0%); in the housing sector, the increase was driven by the Islands (+12.1%), while in the economy by the Center (+10.5%).
Going into detail, in third quarter in 2022 there are 220,995 le notarial agreements of sale and other agreements relating to transfers for a consideration for real estate units (-2.7% compared to the previous quarter and -1.0% on an annual basis).
In the economic comparison the housing sector shows negative percentage changes in all geographical areas of the country: South -7.0%, Islands -3.7%, Center -2.9%, North-East -2.5% and North-West -0.6%. The economic sector is decreasing in the Islands (-5.7%) and in the South (-5.2%), while it is growing in the North-West (+2.2%), in the Center (+1.7% ) and in the North-East (+1.4%).
94.7% of the stipulated agreements concern transfers of ownership of residential properties (209,365), 5% for economic use (11,054) and 0.3% for special use and timeshare agreements (576). Compared to the third quarter of 2021, real estate transactions decreased by 1.1% in the housing sector, while they grew by 1.1% in the economy.
Every year the housing sector decreases in the North-East (-4.0%), in the South (-2.0%) and in the North-West (-0.8%) while it grows in the Islands (+3.4%) and in the Center (+0.7%). The economic sector recorded positive percentage changes in the Center (+7.8%), in the North-West (+1.5%) and in the South (+1.1%), negative in the Islands (-12.6%) and in the North-East (-0.1%). In large and small towns, housing sales decrease (-1.7% and -0.2% respectively) while at an economic level they grow (+2.2% in large towns and +0.3% in small towns).
The notarial conventions for mortgages, loans and other obligations with the constitution of a real estate mortgage they are 95,945 (-5.5% compared to the previous quarter and -7.4% on an annual basis). The decrease is homogeneous throughout the country, both on a cyclical basis (South -10.0%, Islands -8.3%, Center -6.6%, North-East -4.2%, North-West -3.4% ), and yearly (Centre -8.7%, North-East -8.2%, South -7.4%, North-West -6.6%, Islands -4.4%, Metropolitan cities -8.2 % and small towns -6.8%).