No. 1074 - The evolution of the residential mortgage market in Italy over the past decade

Questioni di Economia e Finanza (Occasional papers)
by Alessandra Albanese, Federica Ciocchetta and Francesco Pipitone
November 2026
Vai alla versione italiana Site Search

This paper describes the evolution of the residential mortgage market in Italy between 2015 and 2025, analysing credit developments, loan quality and supply conditions. It also examines the characteristics of borrowers and loans using granular data on individual mortgage contracts.

Following the recovery that began in 2015, supported by low interest rates, the Italian mortgage market slowed in 2023 as monetary policy tightened, before recovering moderately since the second half of 2024. Over the period under review, lending to younger borrowers increased, while the share of variable-rate mortgages declined. The digitalization of mortgage origination and related support services also grew, as did the provision of loans for the purchase of highly energy-efficient homes and for energy-efficiency improvements. Credit quality improved throughout the period.

Full text

  1. 12 November 2026
    No. 1074 - The evolution of the residential mortgage market in Italy over the past decade
    PDF 2 MB

    (only in Italian)

Sezione di approfondimento