Dear mortgages, what house can you buy now if you earn at least 1,500 euros a month
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The reduction in purchasing power
With his average income, a Milanese today, with a fixed 30-year mortgage, can finance the purchase of 37.2 square meters in his city. A year ago, with the same installment, he was able to secure the purchase of over 51 metres. A loss of purchasing power of 27.4%.
Things went just a little better in the Capital where from 41.5 meters a year ago it dropped to 31.3, with a drop of 24.7%. In Turin the meters dropped from 71.2 to 54.2 (-26.4%) and finally in Naples they went from 31.7 to 23.6 (-25.6%). These are the summary results of a simulation we carried out by comparing income, real estate values and interest rate trends. For the calculations we considered the per capita disposable income updated at the end of 2021 calculated by the Tagliacarne institute (Unioncamere). The prices are the average ones requested at the end of April calculated by immobiliare.it.
08 May 2023
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