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The real estate market is reviving in Italy's major cities. This is according to a study conducted by the National Council of Notaries using the 2025 Notarial Statistical Data, which examines trends in home sales and mortgages in Milan, Turin, Verona, Bologna, Florence, Rome, Naples, Palermo, and Bari. Nationally, house sales are predicted to climb by 6.6% in 2025, while mortgages are expected to increase by 18.8%, resulting in a 30.4% increase in total capital disbursed. Simultaneously, the economic values of real estate transactions are increasing, with a total of over €145 billion, a 4.3% increase from 2024. The rebound looks to be widespread in large cities, with a substantial rise in first-time home sales among private individuals, while new construction and direct purchases from businesses continue to face challenges. At the same time, the market indicates the significant relevance of the youth segment. In practically every city, the majority of buyers taking advantage of first-time homebuyer incentives and mortgage holders are under the age of 35. The proportion of second houses owned by private persons is also increasing, particularly in large urban areas with a tourism or university purpose, where real estate investment remains a form of asset protection and a lever tied to the rental and short-term rental markets. The mortgage market is also exhibiting signs of a strong revival. Almost every major city is seeing an increase in both the number of loans and the amount of capital disbursed, with medium- to high-end mortgages and mortgage subrogation transactions growing significantly. This trend indicates increased vitality in the loan market and a gradual rebound in household purchasing power.
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