The Italian Housing Market Survey has been released for the third quarter of 2024.
According to the Italian Housing Market Survey of a sample of real estate agents conducted between 23 September and 23 October 2024, assessments pointing to price stability increased in the third quarter, while the share of respondents who reported price decreases contracted. The average discount on asking prices fell to historic lows and the time on market remained very short.
Residential demand continued to be weak, though there are signs of recovery: indications on the number of potential buyers in the reference quarter improved considerably year on year, while supply remained broadly stable. The number of house sales went up compared with the third quarter of 2023 and the share of respondents that reported buyers' difficulties in securing mortgage loans as one of the main causes of the cancellation of listings fell again.
Estate agents continued to report expectations of an increase in rents, despite early signs of a deceleration. Overall, declining supply in the rental market is flanked by robust demand.
Expectations for the overall national market and for the agents' own market, both in the reference quarter and over a two-year horizon, improved significantly year on year. The balance of opinions on the price outlook for the current quarter has increased mainly due to a smaller share of estate agents expecting prices to go down.
