Table of Contents:
The dream of owning a home in crisis
In recent years, buying a home has become an unattainable dream for many Italians. According to Nomisma’s 17th Housing Report 2024, supported by CRIF, the current economic environment, characterized by rising inflation and falling disposable income, has made it increasingly difficult for families to access real estate. In particular, single-person and large families face significant economic challenges, forcing them to reconsider their housing options
.
Rising rents: a necessary solution
With the purchase of a house that seems ever farther away, renting emerges as the only viable alternative. The Nomisma report highlights that 59.3% of Italian families consider renting as the only possible solution to meet their housing needs. This figure marks an increase from 56% in 2023, indicating an increasing dependence on renting. In addition, the percentage of families that opted for long-term rent has fallen, suggesting greater instability in
the rental market.
Purchasing demand remains high, but opportunities are scarce
Despite the difficulties, interest in buying a home remains high. About 3 million Italian families say they are interested in buying in the coming year. However, only 980,000 of these families can be considered as part of ‘real demand’, a number that appears modest compared to the 700,000 sales expected in 2024. This gap highlights a mismatch between desires and economic possibilities, with many families forced to give up their dream of owning their own home
.
Mortgages and financial difficulties: a complex picture
The mortgage market showed signs of recovery, with an increase of 3.9% in the second quarter of 2024. However, the total volume of loans disbursed in 2023 declined significantly, amounting to around 41 billion euros, with a decrease of 25.4% compared to the previous year. Even if in the first half of 2024 there was a slight attenuation of the decline, the number of families reporting difficulties in paying installments is still worrying, standing at 4.3%.
The future of living in Italy
In this context, many Italians find themselves having to review their housing expectations. The awareness of the need to improve living comfort is growing, but families have to reckon with their financial capabilities. Luca Dondi from Nomisma points out that for a growing number of Italians, buying a home risks remaining a difficult dream to achieve. The lease therefore becomes the only viable road, pending more favorable conditions of access to credit
.
