We are finally starting to hear about a recovery in the Eurozone and a timid U-turn in the Italian economy too. In July this year the PMI index in Italy rose beyond the threshold that marks the border between contraction and growth. Simply put, the economic engine of our country is slowly getting back into motion and, barring any surprises, we should leave this behind... now_is_the_best_time_to_buy_a_house ... terrible period of recession in the space of a few years, if not even months. In June this year there was also a slight reversal in the unemployment rate which began to fall significantly. This is certainly comforting news which has only one negative side: property prices, which continued to fall from 2007 to 2012, will inexorably resume a spontaneous and rapid rise due to the unblocking of the market in this sector.


The crisis in the real estate market in Italy was above all Brazil Phone Number a crisis concerning the number of commercial transactions which have decreased by over 40% since 2008. Only in 2012 (the worst year ever) there was a 22% drop in demand compared to the previous year, in the major Italian cities. This drastic reduction in the number of homes sold had as a direct and logical consequence a collapse in prices which, in some cases, even exceeded the 30% threshold! An apartment that sold for €150,000 in 2008 is likely to be bought today for around €105,000. Add to this the reduction in bank interest rates for accessing mortgages, which dropped on average from over 6% in 2008 to the current 4.90% for the fixed rate and with the variable rate going from an average 4% to a palatable 2.90% today. It is true that access to credit remains a problem and that banks ask for greater guarantees before taking out mortgages.



But if you have a permanent job and already have at least 50% of the amount needed to purchase the apartment then you have good hopes of being granted a loan. Possibly you can move towards the purchase of properties for which the seller already has a mortgage taken out for them and thus buy the house + mortgage in one go. The latter practice has become very consolidated in the last 4 years. Consider, however, that in the first quarter of 2013 the number of mortgages granted for the purchase of the first home marked +8% compared to the same period of 2012. A further important sign of a restart to be taken seriously into consideration. If the recovery stabilizes, as everyone hopes it will, the real estate market will unblock, the number of sales will begin to rise again and with this, property prices and mortgage interest will no longer be those of 2013.