In the first half of 2021, the residential market recorded significant growth in terms of volume, closing with a change of +56% in transactions compared to the same period of 2020, for a total of 363,750 transactions (Agenzia delle Entrate data). On the one hand, it was an expected increase following the downturn recorded during the lockdown period of 2020, while on the other, the data show 22% growth compared to 2019.
In particular, 162,258 transactions were recorded in the first quarter and 201,492 in the second quarter, respectively +38.6% and +73.4% against the corresponding quarters in 2020.
According to surveys by agencies of the Gabetti, Professionecasa and Grimaldi networks, a change in prices of around +0.3% was recorded in the first half of 2021 in the major cities compared to the second half of 2020. Sales times have dropped marginally and amount to an average of 4.4 months, while discounts granted upon closing of negotiations are down slightly, at around 11%.
With regard to mortgages to purchase a home, the favourable rates sustained demand, leading to a total disbursement to households during the first six months of the year of €31.3 billion, +34.7% compared to the first half of 2020 (Bank of Italy data).