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Home affordability in Italy

Author

Listed:
  • 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.

Suggested Citation

  • Giovanni D'Alessio & Romina Gambacorta, 2007. "Home affordability in Italy," Questioni di Economia e Finanza (Occasional Papers) 9, Bank of Italy, Economic Research and International Relations Area.
    • Handle: RePEc:bdi:opques:qef_9_07
    as

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    File URL: https://www.bancaditalia.it/pubblicazioni/qef/2007-0009/QEF_9.pdf
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    Citations

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    Cited by:

    1. Francesca Modena & Concetta Rondinelli, 2011. "Leaving home and housing prices. The experience of Italian youth emancipation," Department of Economics Working Papers 1101, Department of Economics, University of Trento, Italia.
    2. Manuel Reverberi & Silvia Sitton, 2016. "Housing conditions, social housing demand and policy recommendations . Analysis and proposals for Modena," Center for the Analysis of Public Policies (CAPP) 0132, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    3. Danilo Liberati & Valerio Vacca, 2016. "With (more than) a little help from my bank. Loan-to-value ratios and access to mortgages in Italy," Questioni di Economia e Finanza (Occasional Papers) 315, Bank of Italy, Economic Research and International Relations Area.

    More about this item

    Keywords

    estate; house affordability;

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts

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