Italy's house prices are still falling, but at a slower pace
House prices are a two-sided coin. If you're a buyer, you want them to fall. If you're an owner, you want them to rise.
So buyers in Italy will be happy that house prices have been declining for more than seven years, dropping by a total of around 16% from Q3 2008 to Q3 2015, or 23% after inflation, using European Central Bank (ECB) figures. Italy's house price index fell by 2.26% during the year to Q3 2015, according to the European Central Bank. When adjusted for inflation, the index fell by 2.44%. Nomisma's figures show a similar trend, with average property prices in the country’s 13 biggest cities falling 2.1% for new and 2.5% for existing homes.
Prices of second-hand houses in Italy fell by 5% to €1,973 (US$ 2,164) per square metre (sq. m.) during the last quarter of 2015, based on the figures from the real estate portal Idealista.it.
