There are more positive signs on the Italian mortgage market growth front, according to the latest data released by the Association of Italian Banks (Abi).
Mortgage loans in the first four months of the year rose by 26.5% which is an encouraging sign, especially when compared to the same period last year which recorded an annual decline of 14.7%. Although we have not fully emerged from the crisis of recent years we can at least say that we are now in a better position and are seeing a slow recovery.
In addition, according to the data provided by Abi from the 83 banks examined in the first four months of the year, new loans during the period January to April 2014 totalled €7.3 billion.
This figure stood out as it represents an increase of 26.5% compared to the €5.8 billion total for the same period in 2013 (during which time the mortgage lending fell by 14.7% over the previous year).
For the luxury real estate market the story is still positive. Buying a luxury farmhouse in Tuscany or a luxury villa in Liguria, to name but two prestigious examples, are always in fashion, especially among investors and foreign buyers and increasingly those from new countries and new markets such as Russia and China.
Edited by CL