Chapter 05 · The journal · The news

News from the office.

Updates from the office, new services and useful notices for those who follow us.

  1. Rates

    The ECB keeps rates on hold: deposit facility at 2.50%

    No change on 29 October, after September's increase. The central bank points to energy risks for prices and makes no commitment on its next moves.

    Source: European Central Bank2 min read

  2. Tax

    2027 Budget: flat tax on controlled-rent leases cut to 5%, 1% for tenants under 35

    The Council of Ministers approved the budget bill and confirms the renovation bonuses for 2027. Parliament now decides.

    Source: Council of Ministers3 min read

  3. Rents

    Short-term lets: the EU Court of Justice says they can require authorisation where housing is short

    The judgment of 22 October (case C-813/24) arose from a Brussels case and sets the conditions: clear, public and proportionate criteria. On its own, it changes nothing in Italy.

    Source: Il Sole 24 Ore3 min read

  4. Sales

    Biella: 1,437 homes sold in the province in the first half, but the city falls 12.5%

    Fiaip Piemonte's report on provisional Revenue Agency data: the province holds steady (+1%), the city loses ground, the rest of the area grows 7.5%.

    Data: first half of 2026Source: Fiaip Piemonte2 min read

  5. Mortgages

    Crif: mortgage demand down 5.9% in the first nine months of 2026

    The collapse in mortgage switching weighs heavily. The average amount requested is almost unchanged, just over 153,000 euros.

    Data: January-September 2026Source: Crif2 min read

  6. Mortgages

    ABI: average rate on new mortgages rises to 3.61% in September

    Six basis points more than in August and 36 more than a year earlier, according to the Italian Banking Association's October monthly report.

    Data: September 2026Source: ABI2 min read

  7. Prices

    House prices in the third quarter: what idealista and Immobiliare.it say

    One sees a 1.1% fall over three months, the other a 4.9% rise over a year. They do not contradict each other: they measure different things. And Biella remains one of Italy's most affordable cities.

    Data: Q3 2026Source: idealista and Immobiliare.it3 min read

  8. Rents

    Rents in the third quarter: +0.5%, and Piedmont reaches its peak

    According to idealista, rents are growing more slowly: +1.8% in a year, with a national average of 14.6 euros per square metre. In Piedmont 10.3 euros, the highest value the portal has ever recorded.

    Data: Q3 2026Source: idealista2 min read

  9. Sales

    Biella: 2,871 homes sold in the province in 2025, +5.9%

    837 sales in the city, +3.3%; the average value stays at 805 euros per square metre.

    Data: 2025Source: Italian Revenue Agency2 min read

  10. Tax

    Renovation bonus: 50% on the main home for 2026 expenses; for 2027 the budget decides

    Under current law, for 2027 expenses the deduction falls to 36% and 30%; the budget bill proposes keeping 50% and 36%.

    Source: Italian Revenue Agency2 min read

  11. Prices

    ISTAT: house prices up 4.0% in a year

    In the second quarter of 2026 the national house price index rose 4.0% on the same period of 2025: new homes +5.0%, existing homes +3.7%, North-West +3.9%.

    Data: Q2 2026Source: ISTAT2 min read

  12. Sales

    Sales steady in the second quarter, +0.4% in the North-West

    Between April and June 201,596 homes were sold in Italy, +0.1% on the year; in the North-West 70,147, +0.4%.

    Data: Q2 2026Source: Italian Revenue Agency2 min read

  13. Rates

    The ECB raises rates: deposit facility rate at 2.50% from 16 September

    The second increase of 2026, after June’s and the pause in July.

    Source: European Central Bank2 min read

  14. Mortgages

    Mortgages: average APR falls to 3.81% in July

    Down from 3.95% in June; the share of variable-rate mortgages rises.

    Data: July 2026Source: Bank of Italy2 min read

  15. Market

    Bank of Italy: average discount at 7.1%, homes sold in 5.2 months

    The survey of estate agents in the second quarter of 2026: average discount and selling times.

    Data: Q2 2026Source: Bank of Italy2 min read

  16. Mortgages

    First-home guarantee fund: from 3 August more protection for people with a certified permanent disability

    The public guarantee on the mortgage reaches 80% with an ISEE of up to 40,000 euros; there is a new application form.

    Source: Consap2 min read

  17. Regulations

    Green homes: the European Commission opens infringement proceedings against all Member States, Italy included

    The directive on the energy performance of buildings had to be transposed by 29 May 2026. For buyers and sellers, nothing changes for now.

    Source: European Commission2 min read

Next chapter

06The appointment