Real estate market Q1 2023: weak first quarter but positive trend on a ten-year basis

From the Report prepared by the Gabetti Research Office it can be seen that compared to the average of sales of the last decade, equal to 128,029 NTN [1] , Q1 2023 with 166,745 NTN marks a growth of +30% and is positioned as the second best first quarter of the last 10 years.

The data for the first quarter of 2023 published by the Revenue Agency show a trend in residential sales in decline compared to the first quarter of 2022. At a national level, in the first 3 months of 2023, 166,745 residential transactions were carried out, -8.3% compared to the same period of 2022.

Even the main eight cities show a negative annual trend of -13%. The trends, if compared with the same quarter of 2022, are negative for all cities: Bologna -23.9%, Milan -22.9%, Rome -10.3%, Florence -9.4%, Turin -7 .1%, Naples -7.0%, Genoa -5.5%, Palermo -4.4%.

[1] Number of Normalized Transactions

Learn more about the news: https://www.gabettigroup.com/wp-content/uploads/2023/06/CS-Dati-OMI-Q1-2023.pdf