Home ownership: more owners among those on the lowest incomes. From 54 per cent to 61 per cent in six years

Wealth in Italia is largely built on through property assets, particularly amongst the less well-off sections of the population.

The number of people who own a home today has increased – as has the use of credit – and, for the poorest households, the value of their home represents the largest component of their net wealth. However, contrary to what one might infer from the usual narrative of rising property prices hampering affordability of housing, it is precisely low-income homeowners whose numbers have risen the most over the last six years.

According to the latest analysis by Confedilizia, between 2019 and 2025, the proportion of people living in their own homes in Italia rose from 78.8 per cent to 82.6 per cent (in 2025 alone, property transactions rose by 6.4 per cent to 767,000, and are estimated to exceed 800,000 in the coming years). The greatest increase is seen precisely among the least well-off 20 per cent of the population, rising from 54 per cent to 60.8 per cent. The desire to own a home, therefore, persists in Italia: despite social and demographic changes, the aspiration to home ownership has not changed. This is also confirmed by the survey’s findings based on age groups: recent years have in fact been characterised by a fall in the average age of those taking out a mortgage, with the proportion of young homeowners reaching 35.8 per cent in 2025, compared with 28.1 per cent in 2019, partly driven by government incentives and guarantees for those under 36. This finding ties in with data on the growth in the proportion of low-income homeowners, given that, particularly in Italia, young people have income levels significantly below the average.

It remains true, however, that the rise in property prices is eroding purchasing power. Given rising prices per square metre, interest rates edging up again and rising inflation, it is no coincidence that purchases by less well-off Italian households have increased the most in smaller towns, in Southern Italy and on the islands. These are areas outside the major urban centres – which are generally characterised by higher property prices – and are, in fact, characterised by lower incomes. This finding ties in with the trend of housing demand shifting away from the major cities: those seeking affordable housing are moving to smaller towns, where, in some cases, the cost of housing has fallen in real terms in recent years.

The value of property therefore has a positive impact on the overall wealth of lower-income households. According to the Confedilizia study, the numerous house purchases in the lower-middle and lower segments have meant that the value of property assets per household in this section of the population has risen more sharply than in other income brackets, increasing by 37.2 per cent over the six-year period analysed, compared with an overall national growth of 10.7 per cent. It is not possible to separate out the inheritance component from the aggregate data, but according to experts, the phenomenon analysed remains more closely linked to new property sales than to inheritance, which is, moreover, more common amongst households with higher incomes.