Buying a House is Impossible for 10 Million Families, Reports ANCE

Rome: Buying a house is impossible for some 10 million families in Italy, construction firm group ANCE said Tuesday. In big cities, it is impossible to buy a house for families with an income of up to 24 thousand euros, stated the Economic Observatory on the Construction Industry 2025 of ANCE, highlighting Milan, Rome, and Naples as the least accessible cities.

According to Ansa News Agency, the association’s research office indicates that households end up spending half of their income to pay the mortgage, with the 20% of the least wealthy families spending even more than two-thirds. Even renting in big cities is out of reach for the most vulnerable families. To pay it, households end up spending almost half of their income, and for the least wealthy, even more.