Renting a house or buying one is not an easy choice for Italians. According to the latest study by idealistica leading portal for technological development in Italy, if the monthly rent for a two-bedroom apartment is 75% more expensive than the mortgage payment needed to buy the same house, to buy you need to have a down payment of 42.703 euroa saving that is certainly not within everyone’s reach.
The words of Vincenzo De Tommaso, spokesperson for Idealistic
“The study highlights the complex situation of households in relation to access to home ownership. In almost all markets, households could pay their mortgage instalments more easily than their monthly rent, but in many cases they cannot make the leap because they lack the necessary savings. Unfortunately, high rental prices prevent them from generating the savings needed to be able to buy a home and access a situation of greater stability and financial relief. Since it is unrealistic to expect the financial system to ease risk criteria, the only viable solution seems to be the adoption of measures that significantly increase the supply of rental homes, thus helping to reduce prices and create a more balanced housing market”.
The statistics of the Neapolitan city
In the capital of Campania the line of a mutual average for a two-room apartment is around 763.00 euros, compared to therent which is around 650.00 euros.
But it is not the only factor to take into consideration, the real estate market in recent years has had a significant increase, as demonstrated by ISTAT statistics from last year.
The purchase price of a property is considered according to the value of a single square meter (approximately 2.704€/m²but may vary depending on the area).
Among the large markets, Turin records the most significant gap with a difference of 74%, followed by Napoli (48%)Rome (43%) and Milan (33%). On the contrary, Pesaro (-5%), Bolzano (-9%), Rimini and Trento (both -12%) are the only cities where the rent is lower than the mortgage payment.
The most expensive areas of Naples
As anticipated, the value of a property also depends on its location: according to some recent studies, it has been shown that the area of Posillipo-Chiaia-San Ferdinando it is confirmed as the most expensive neighborhood in the Neapolitan city.
On the other side of the scale, however, we find Agnanconsidered a “Posillipo cheaper”with its panoramic hill and less public transport but, on the other hand, great tranquility and privacy.