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Property market for sale: deals at low prices
05 June, Libero
Price of houses in Italy remain stable, even though registering a 17.1% decrease in comparison with 2008. Meanwhile, transactions have increased by 7% on a yearly basis in 2017, and by 8% in the first quarter of 2018 compared to the same period of the previous year.
The trend of mortgages has also been steady January through March and “it’ll continue to be so thanks to the improved macroeconomic situation and the low interest rates”. Whereas, the default rate “should remain on the current levels on the long-term”. The figures are included in the Fitch Ratings report on the Italian real estate and mortgage market. According to the American agency, “the competition on the Italian mortgage market remains solid, and it’s focused on diversifying the product, rather than competing on prices, as interest rates are still at their lowest and the limited demand for refinancing gives more freedom to act on the price-side”.
According to the rating agency, the volumes concerning refinancing of loans is “slowing down” by 4%.
Source: Libero
Translator: Cristina Ambrosi