According to the Italian Housing Market Survey of 1,501 real estate agents, conducted between 8 January and 5 February 2024, house price growth waned overall in the fourth quarter of 2023. Assessments pointing to price stability are still predominant (more than two thirds of real estate agents).
Demand remained weak: despite rebounding from the previous quarter, the share of agents that sold at least one property is still smaller than the year-earlier figure for the fourth quarter in a row. Around 40 per cent of real estate agents reported a decrease in both new sale listings and potential buyers.
Difficulties in securing mortgage loans are still the main cause of the cancellation of listings for around one third of agents, and the percentage of sales financed with mortgage loans is low in historical terms. However, real estate agents expect the outlook for the real estate market to be less unfavourable in the first three months of 2024, both for agents' own markets and for the national market. The rental market remains tight: upward pressures on rents are supported by robust demand and declining supply, partly as a result of owners' preference for short-term rentals.
