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Houses, prices down by 20% in seven years

01 November, Italia Oggi

“The regular memo on real estate crisis comes from Istat. According to the Institute of Statistics, house prices continue to go down: -0.3% in the second quarter of 2017 compared to the same period of the previous year and -20% compared to 2010”, stated the president of Confedilizia Giorgio Spaziani Testa. “Reality is more serious, considered that in many cases this price reduction is more accentuated and Istat doesn’t take in account the many properties that are no longer marketable and, consequently, have no value. We must remember that real estate is the only sector that doesn’t seem to recover. The main reason is the heavy taxation that generated what Istat calls the significant fall registered between 2012 and 2016 (started just after Imu was introduced, triplicating the exposure of properties). We must intervene with measures capable of regaining trust in the sector. The new budget is the right occasion to do this”.

Source: Italia Oggi

Translator: Cristina Ambrosi

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