The figures are contained in the seventh edition of "Real estate in Italy", the biennial publication published recently by the Italian Revenue Agency and the Finance Department of the Ministry of Economy, in collaboration with the technological partner Sogei. Shortly, three out of four Italian families own the home they live in. Indeed, the exact figure is 75.2% of households, according to the report statistics. The numbers confirm that the high rate of home ownership in Italy keep resisting despite some economic difficulties. Therefore, the country is still on the top of the OECD home-property rankings.
The average value of Italian homes is 160 thousand euros - In 2016, as reported by the study, the average surface area of an Italian home was 117 square meters, whilst its average value was around 162,000 euros, or 1,385 euros per meter. As previously said, the overall value of homes owned, including the related appliances, is more than six trillion euros. Indeed, the real estate assets of the Italians is confirmed among the largest in the World.
The data sources - The volume, which this year analyzes the data relating to 2016, offers a picture of the wealth, incomes, uses and taxable values of the Italians’ properties through the processing of various information sources, including the Urban Building Cadastre and the quotations of the “Real Estate Market Observatory”, tax returns, databases of Real Estate Tax payments (IMU, TASI) and registry data.
How the properties are used - Almost 60% of the 57 million properties owned by individuals in Italy are used as the main home. According to the data indicated by taxpayers in the tax returns, in fact, about 34.2% of the properties, equal to 19.5 million units, are main dwellings, to which is added a further 23.3% relating to the appurtenances and7or allocations such as cellars , attics, garages or parking spaces, approximately roughly 13.3 million units. Assuming that each main house corresponds to a family unit, we can stated that 75.2% of families live in their own homes. The leased properties are approximately 6 million (10%), while 6.2 million (11%) are those left available. Lastly, approximately 1.2 million, just over 2% of the total, amount to properties granted free of charge to family members or other co-owners. As for the distribution by territorial areas, in the South 53.5% of the total housing of natural persons is used as the main dwelling, while in the North and in the Center the share is higher, respectively 56.8% and 58.5%.
Stefano Latini