House prices in Q2 up 2.9% year-on-year says ISTAT

(ANSA) - ROME, SEP 18 - House prices in Italy in the second quarter of this year increased by 3.2% compared to the previous trimester and by 2.9% from the same period in 2023 (from +1.6% in the first trimester of 2024), according to preliminary estimates based on the index of prices of residential properties purchased for housing or investment purposes (Ipab) , ISTAT said Wednesday.
    The increase on an annual basis of the index was mainly due to prices of new properties which rose by 8.1% (up from +5.3% registered in the previous quarter) and those of existing houses (+1.9% from +0.8% in the first quarter), the national statistics agency said.
    Overall, the property market recovered in the second quarter with some 186,000 residential properties changing hands, over 2,000 more compared to the second trimester of 2023 (+1.2%), in stark contrast to the 7.2% decrease recorded in the previous trimester, according to the inland revenue agency's observatory on the real estate market (OMI). (ANSA).