IDEAS home Printed from https://ideas.repec.org/p/bdi/opques/qef_333_16.html
   My bibliography  Save this paper

House prices in Italy, 1927-2012

Author

Listed:
  • Luigi Cannari

    (Bank of Italy)

  • Giovanni D�Alessio

    (Bank of Italy)

  • Giovanni Vecchi

    (University of Rome �Tor Vergata�)

Abstract

In this paper we evaluate the trend in house prices and residential land prices from 1927 to 2012. In this period real house prices increased more than threefold, while they quintupled in big cities. The increase was much greater than that of the real construction costs, which doubled. More than two-thirds of the increase in house prices that occurred between 1950 and 2012 was attributable to the increase in residential land prices. The increase in the wealth-to-GDP ratio observed in Italy since the middle of the last century was largely due to the rise in real house prices; although increasing house prices can make buying a home more difficult for non-homeowners, our results mitigate the concerns about the distributive tensions that may arise from the growth in the wealth-to-GDP ratio.

Suggested Citation

  • Luigi Cannari & Giovanni D�Alessio & Giovanni Vecchi, 2016. "House prices in Italy, 1927-2012," Questioni di Economia e Finanza (Occasional Papers) 333, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_333_16
    as

    Download full text from publisher

    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2016-0333/QEF_333_16.pdf
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Pierluigi Morano & Francesco Tajani & Felicia Di Liddo & Debora Anelli, 2020. "A Feasibility Analysis of The Refurbishment Investments in The Italian Residential Market," Sustainability, MDPI, vol. 12(6), pages 1-20, March.

    More about this item

    Keywords

    house prices; land prices; wealth; households.;
    All these keywords.

    JEL classification:

    • N01 - Economic History - - General - - - Development of the Discipline: Historiographical; Sources and Methods
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bdi:opques:qef_333_16. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/bdigvit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.