In the third quarter of 2023, there were 210,088 notarial deeds of sale and other agreements related to transfer deeds for real estate units. This is an increase of +8.0% compared to the previous quarter on seasonally adjusted data, but a decrease of -4.9% on raw data on an annual basis. The housing sector showed positive percentage changes in all geographical areas of the country, with the North-West leading with a +20.8% increase. However, mortgages recorded a decrease in all geographical areas of the country and in metropolitan cities, with only small towns showing an increase.
In terms of economic comparison, the North-East had a +17.5% increase, while the Center had a +15.0% increase and the Islands had a +9.6% increase. The only exception was the South, where there was a slight decrease of -0.5%. On a cyclical basis, notarial agreements for mortgages and loans with real estate mortgage were in sharp decline compared to the previous year, with only small towns showing an increase. Notarial purchase and sale agreements decreased by 11.1% compared to the same period in 2022 due to negative variations in various geographical areas such as the Center and North-West.
In conclusion, despite some positive percentage changes in certain sectors and regions of Italy’s real estate market, overall it has shown a downward trend during the first three quarters of 2023 due to negative variations in various geographical areas such as the Center and North-West.
The above information was revealed by Istat who also reported that in terms of economic comparison, notarial deeds of sale and other agreements related to transfer deeds for real estate units increased by +8.0% compared to the previous quarter on seasonally adjusted data but decreased by -4.9% on raw data on an annual basis.
Notarial agreements for mortgages and loans with real estate mortgage saw negative percentage variations throughout Italy except for small towns which showed an increase due to their sharp decline compared to the previous year.
On a territorial level, sales were reduced in large centers but increased in both types of centers (large and small) while sales were reduced in large centers but increased in small centers.
The decline was particularly high in large centers such as Rome where sales decreased by -46%, while they increased by 136%, 94%, and 47% respectively
