No. 1043 - Demographic trends and housing prices

Questioni di Economia e Finanza (Occasional papers)
by Luca Casolaro, Claudio Luccioletti and Andrea Neri
July 2026
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This study examines the relationship between population trends and housing prices across Italian municipalities between 2010 and 2025. Its objective is to assess the extent to which demographic changes are reflected in housing prices, distinguishing between short- and long-term effects.

Population and housing prices move together: on average, a 10 per cent decline in population is accompanied by a roughly 7 per cent decrease in housing prices. This relationship emerges gradually over time, remains robust across different estimation methodologies, and is stronger in urban areas and in more developed regions.

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  1. 24 July 2026
    No. 1043 - Demographic trends and housing prices
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    (only in italian)

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