A week of moderate earnings for the securities of the real estate sector, listed in Piazza Affari and, in Europe, closes thanks to the lightenings on the front of commercial warafter the US president Donald Trump He announced that the duties on Chinese goods will soon be “decidedly” lower. The tycoon also said that he had no plan to fire the president of the Federal Reserve, Jerome Powellpossibility that had greatly conditioned the course of the world share indexes. To give impulse also continues the last cut of the rates by the ECB, which will have a positive effect on the cost of mortgages, making the purchases of houses more convenient.
The trend of the sector on the stock exchange
The real estate sector on the Milanese square has lived a bullish week with the FTSE Italia All Share Real Estate index that brings home a climb of 0.7%. A more limited gain than as recorded by the sector, at European level, with the Stoxx 600 Real Estate index in progress of 1.8%.
Real estate securities listed in Milan
Among the real estate companies listed in Piazza Affari, Brioschi rises by 5%, live in 2.4%. Aedes earns about 1%, while Gabetti limits the rise to 0.7%and IGD to 0.5%. On the side of the discounts, recovery gives 0.4%.
Macroeconomic data
On the macroeconomic front, in the US, they continue to decrease the Mutual questions in the United States. In the week to 18 April 2025, the index that measures the volume of mortgage loan applications records a decrease of 12.7%, after the drop of 8.5% of the previous week. The index relating to refinancing requests decreased by 12.7%, while that relating to the new questions fell by 6.6%. There Mortgage bankers associations (Mba), indicated that the rates on thirty -year mortgages rose to 6.90% from 6.81% previous.
The strengthening is strengthened Sale of new housesin March. The data communicated by Census bureau It highlighted an increase of 7.4% to 724 thousand units compared to 674 thousand February units, when a 3.1% increase had been recorded. The expectations of analysts were for a less robust increase, that is, up to 684 thousand units. Compared to the 683 thousand units of March 2024 there is a growth of 6%.
With ECB cut closest the rebalancing between fixed rate and variable
The European Central Bank has decided to further cut the interest rates of 25 base points, bringing the rate on deposits to 2.25%, the one on the main refinancing to 2.40%and that on 2.65%marginal loans. Since the beginning of the year, the Frankfurt Institute has already reduced the reference rates of 0.75% and, according to the predictions of economists, there could be room for other cuts also in the next meetings, starting from the one scheduled in June.
According to Mutuionline.it, the scissor between fixed and variable rate, which has already gone from over 182 in March 2024 to 87 current points, is already destined to reduce further in the coming weeks, with the rebalancing between the two types of funding that seems to be increasingly close. At the beginning of last month, in fact, the 1 and 3 months Euribor rates – reference indices for variable rate mortgages – fell for the first time from the beginning of 2023 under the value of the IRS at 20 and 30 years, reference for the fixed, and the projections indicate that the downhill trend of the Euribor should continue until the end of 2025, while as regards the IRS it is expected to remain stable on the current values.
Sector studies
The gross profitability of a home intended for the lease grows in the first quarter of 2025, reaching 9.5%, clearly up compared to the 8.6% recorded in the same period of 2024. A study conducted by Idealista reveals it. A performance that, in fact, more than double that of ten -year treasure vouchers, stopped at 3.6%.
The report, which compares the sales and rent prices for different types of properties, confirms the good time of the sector, with all the growing segments. Commercial premises are confirmed by the most profitable, with a gross return of 12.6% (+0.6 points compared to 2024), followed by the offices at 10.1% (+0.3 percentage points). The garages also recovered, which while remaining the less profitable option, go from 7.3% to 8%.
