(Finance) – 2022 marked the year of restartwith the recovery of pent-up demand during the pandemichowever if we analyze the requests of mortgages real estate by the families Italian over the 12 months as a whole there was a contraction of 22.7% compared to 2021. This is what emerged from an analysis of the Credit Information System managed by CRIF based on EURISC data. However, the slowdown in mortgage applications reflects the by now structural component of the contraction subrogations, to which must be added the increase in interest rates which have caused rates to rise, further eroding the spending capacity of households. Going into detail on the phenomenon of subrogations, in the observation period of the first nine months of 2022, we note that they suffered a drop of 58.2%, while new mortgages disbursed remained almost stable, with a modest contraction of 1.1 %.
“In recent months, the demand for new mortgages has been penalized mainly by two factors: increased interest rates and less willingness of households to resort to credit due to the climate of uncertainty on the geopolitical and macroeconomic front. Furthermore, the temporary disappearance of the offer of subsidized mortgages with Consap guarantee to the under 36s, which have become economically no longer sustainable due to the offer, certainly had an influence. However, many government incentives have been confirmed for 2023, in particular those aimed at young people, building renovation and energy saving. To be considered as real antidotes for the entire sector” , he comments Simon CapecchiExecutive Director of CRIF.
Consequently almost 3/4 of the requests has an average amount of less than 150,000 euros, in line with the value recorded in 2022. Confirming the trend of families to move towards long-term solutions so as not to weigh too much on the family budget, in 2022 almost 85% of mortgage applications were characterized by a duration exceeding 15 years. This trend has further accentuated compared to the past, with an expansion of repayment plans which showed an increase of 8.6 pp for the 25-30 age group compared to 2021.
Analyzing the distribution of loan applications in relation to the age of the applicant, we confirm the under 35 range as a real catalyst for demand volumes, with 35.6% of the total (increase of 5.1 pp compared to 2021). Between drivers which have had a positive effect on the trend in demand, certainly the incentives for young mortgages, renovations and, above all, green mortgages for energy efficiency of the home should be mentioned.
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