Property market: boom at the start of the year. Genoa and Turin lead, Florence down

The purchase and sale of homes in Italy in the first quarter of 2025 recorded a growth of 11.2% compared to the same period last year, or about 17,000 more units. These are the statistics released by the Agenzia delle Entrate's real estate market observatory.

Purchases made by natural persons who took out a mortgage loan accounted for 45.8% of the total (4 percentage points higher than the previous quarter and 7 points higher than the same period in 2024) with an average interest rate applied to the first instalment of 3.2% (9 basis points lower than the previous quarter and 76 points lower compared to the same quarter in 2024).

The share of house purchases that took advantage of the first home allowance is above 70% as in the previous three quarters (72.5% in January-March this year). New home purchases, out of the total, are less than 6% (it was 13% in the previous quarter and 6.1% in Q1 2024).

In line with the national trend, reads the report on the first quarter, house purchases and sales in the eight largest Italian cities by population show an overall growth of 9%: the increases are widespread

in all cities, with Genoa and Turin showing the highest increases (over 12%) followed by Rome with volumes up 10.7%. Trend variations close to 10% are observed in Bologna, +9.3%, and in Palermo, +8.8%. More contained, but still above 5%, were the increases in Milan, +7.1%, and Naples, +6.1%. The only city with a negative trend change was Florence (-6.2%)..