(Finance) – In the first three quarters of 2023 the real estate market, with 656,504 notarial purchase and sale agreements, recorded a downward trend compared to the same period of 2022 (-11.1%). The decline affects the housing sector (-11.9%), with negative variations higher than the national average in the Center (-15.8%) and in the North-West (-15.2%); the decline was slighter in the North-East -9.7%, in the South -8.0% and in the Islands -2.4%. The economic sector grows overall by 4.5%; at a territorial level it is increasing in the North-East (+11.3%), in the South (+6.4%), in the Islands (+3.1%) and in the North-West (+2.6%), while there was a slight contraction in the Center (-0.7%). This is Istat’s comment on the data published today inFlash update on “Real estate market: sales and mortgages from notarial sources” relating to the third quarter of 2023. Notary agreements for mortgages, loans and other obligations with the creation of a real estate mortgage (224,591 from January to September 2023) – notes Istat – are in sharp decline (-30.7%) compared to the same period of the previous year. The decrease mainly affects the North-West (-34.7%) and the Center (-33.3%); more contained in the North-East -26.9%, in the South -26.4% and in the Islands -24.0%.
In the third quarter of 2023 – we read in the report – they are 210,088 notarial purchase and sale agreements and other agreements relating to transfer deeds for consideration for real estate units. The percentage change calculated on the seasonally adjusted data is +8.0% compared to the previous quarter, while the change on an annual basis calculated on the raw data is -4.9%. In the economic comparison, thehousing shows positive percentage changes in all geographical areas of the country (North-West +20.0%, South and Islands both +3.3%, North-East +2.6% and Center +0.2%). The economic sector is increasing throughout the national territory (North-West +20.8%, North-East +17.5%, Center +15.0%, Islands +9.6%), with the exception of the South ( -0.5%).
93.6% of the agreements stipulated concern i transfers of ownership of residential properties (196,709), 6.1% those for economic use (12,735) and 0.3% special use and timeshare agreements (644). Compared to the third quarter of 2022 real estate transactions decreased by 6.0% in the housing sector and increase by 15.2% in the economic.
At a territorial level, the housing sector shows, on an annual basis, negative percentage variations in all areas (Centre -13.0%, North-East -6.6%, North-West -5.7%, South -2.7 %) except in the Islands (+4.0%). The economic sector increases throughout the national territory: North-east (+26.8%), North-west (+15.9%), Islands (+15.0%), South (+9.4%), Center (+ 7.4%). In the housing sector, sales are reduced in both large and small centers (-6.7% and -5.6% respectively); in the economic one, on the contrary, they increase in both (+14.2% in large centers and +15.9% in small ones).
The notarial agreements for mortgages, loans and other obligations with the creation of a real estate mortgage there are 72,497. The percentage change calculated on the seasonally adjusted data is +7.4% compared to the previous quarter, while the change on an annual basis calculated on the raw data is -24.4%. On a cyclical basis, the entire national territory shows positive percentage variations with a peak in the North-West (+21.3%); on an annual basis, on the contrary, mortgages recorded a decrease in all geographical areas of the country (Centre -28.9%, North-West -25.1%, North-East -24.3%, South -19.2 % and Islands -17.6%), in metropolitan cities (-25.2%) and in small towns (-23.9%).
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