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House prices have been decreasing since 2012. Transactions are recovering

06 June. Italia Oggi

“The figure disclosed by the Revenue Agency, Abi and Istat show that the Italian property market is still in difficulty. In terms of transactions, the slow recovery of the losses registered in the last years has not brought the market back to the 2011 levels, while the factors of this recovery (lower prices, lower interest rates, more credit from banks, increased purchasing power) should have produced far better results”, said the president of Confedilizia, Giorgio Spaziani Testa. “Concerning prices, the situation is even worse. In fact, Istat has confirmed that Italy is the only European country where property prices have been continuously dropping since 2012. Many are still underestimating what happened during that period, but who lives in the real world knows it well: the property tax tripled with all its negative consequences on the economy. Will we read some recommendation from the EU Commission tomorrow on this matter?”.

Source: Italia Oggi

Translator: Cristina Ambrosi

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