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Residential market: decline in transactions, more convenient mortgages

24 March, Italia Oggi

Due to the coronavirus emergency, residential transactions reported a decline everywhere in Italy. In Lombardy, transactions in the first two months of 2020 decreased by 7% compared to the same period of the previous and are expected to decline even further in March according to Scenari Immobiliari. However, there is still a steady demand for houses, and the market might rebound in the second part of the year. While waiting for the market to recoup, central banks decided to act on interest rates in order to sustain the economy, making mortgages more convenient than ever.

Source: Italia Oggi

Translator: Cristina Ambrosi

 

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