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Home affordability in Italy

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Author Info

  • Giovanni D'Alessio

    ()
    (Banca d'Italia)

  • Romina Gambacorta

    ()
    (Banca d'Italia)

Abstract

During the last two decades, house prices in Italy have increased dramatically in real terms, particularly in large towns and cities; the rise in rents has been even more marked. This paper analyses home affordability for households, considering both the rent and the property markets. In particular, it looks at the trends in house prices, rents, household income, cost of loans and other elements affecting the demand for housing (such as population growth). The paper also assesses how widespread home difficulties are among the population, considering the physical and financial aspects, both actual and potential. The role of public housing in helping to the problems is also discussed. Despite the wide diffusion of home ownership, home-related distress affects 20 per cent of Italian households.

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File URL: http://www.bancaditalia.it/pubblicazioni/econo/quest_ecofin_2/qef_9/QEF%209.pdf
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Bibliographic Info

Paper provided by Bank of Italy, Economic Research and International Relations Area in its series Questioni di Economia e Finanza (Occasional Papers) with number 9.

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Date of creation: Jul 2007
Date of revision:
Handle: RePEc:bdi:opques:qef_9_07

Contact details of provider:
Postal: Via Nazionale, 91 - 00184 Roma
Web page: http://www.bancaditalia.it
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Related research

Keywords: estate; house affordability;

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Cited by:
  1. Francesca Modena & Concetta Rondinelli, 2011. "Leaving home and housing prices. The experience of Italian youth emancipation," Temi di discussione (Economic working papers) 818, Bank of Italy, Economic Research and International Relations Area.

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