Total residential mortgage lending in Italy 2014-2023, per quarter
The Italian mortgage market has grown substantially since 2014, with the value of mortgages outstanding increasing by about 66 billion euros until 2023. In the first quarter of 2014, the value of mortgages outstanding amounted to 359 billion euros and in the second quarter of 2023, it exceeded 425 billion euros.
Mortgage interest rates in Italy
The mortgage interest rates in Italy decreased significantly, falling to record lows, before rising dramatically in 2022. The period of decline in mortgage interest rates probably helped revive the residential real estate market in the country, which suffered after the financial crisis of 2008. In fact, the number of transactions in the sector increased steadily since 2013.
A regional overview
In some areas of the country, the residential real estate market appears to be more dynamic than in others. In fact, in 2022, the North-West of Italy accounted for more than one third of all transactions in the sector. When looking closely at the single regions, Lombardy was the most active, with more than 165,000 transactions registered. The second most prolific market was found in the region of Lazio, which recorded approximately 77 thousand transactions.
