The residential house market: The recovery of the residential market is led by the major cities of Northern and Central Italy: Bologna (29,2%), Genoa (25,3%) Rome (21,4%), Turin (10,8%), Florence (9,7%) and Milan (3,4%). Compared to the first quarter of 2013, in the first three months of 2014 the figures of the houses bought and sold are increased in all the municipalities of the major cities with an overall trend rate equal to 5,0%. With 98.403 sales, the real estate market of the houses marks an overall growth of 4,1%, more marked in the Centre (10,5%) and North of Italy (+4,7%), while in the South of Italian state the market still shows a negative sign (-1.6%). As a matter of fact, some of the main cities of Southern Italy, such as Palermo (-1%) and Naples (-25,2%), still show a negative sign.
Other sectors: In the first quarter of 2014, the non-residential sectors have different trends. The commercial sector, compared to the same quarter of 2013, marks an increase of 4,7%, stopping the downward trend started in the fourth quarter of 2011. On the other hand, in the same quarter the manufacturing sector loses less than 1% and the tertiary sector (which includes offices and banks) is still in decline with a negative trend rate of around 10%.
The data relating to the volume of transactions are affecting the entire country with the exception of the provinces of Bolzano, Trento, Gorizia and Trieste, as the cadaster is managed locally. More information and further details are available on the quarterly Omi Note, published on the website of the Italian Revenue Agency, www.agenziaentrate.it.