One closes one week contrasted For the real estate sector, which has been affected, on the one hand, of the renewed geopolitical tensions, on the other of the restrictive policy of the central banks, which maintain an attitude in cautious complexes compared to inflation and monetary policy.
Fed and Boe are confirmed cautious
There Federal Reserve It has maintained monetary policy at 4.25-4.5%unchanged, as widely expected. The Dot Plot has again reported two cuts of 25 basis points in 2025 and the Forecasts on GDP were compared to the downward magazine. There Bank of Englandwithout surprises, he decided to maintain interest rates stopped at 4.25%, due to an inflation still high in the United Kingdom.
There Swiss National Bank (BNS), on the other hand, lowered the rate of 0.25 percentage points to 0%, reiterating its willingness to act if necessary on the change market. There Norges Bankthe central bank of Norway, reduced the cost of money from 4.5% to 4.25%, stating that the economic prospects are uncertain, but if the economy evolves in general as currently expected, the reference rate will be further reduced during 2025. In Swedenthe Board of Directors of the Riksbank It reduced the reference rate of 0.25 percentage points, bringing it to 2%, citing an economic recovery that began last year that lost impetus and the forecasts of a slightly lower inflation than the previous forecasts.
There Bank of Japan He decided unanimously to leave the reference rate to 0.50%. The only novelty is the change of attitude compared to the purchases of the Japanese sovereign bonds (JGB), whose reduction rhythm will be slowed down compared to what was decided in March.
The trend of the sector on the stock exchange
The real estate sector on the Milanese square managed to close the eighth on the rise with The FTSE ITALIA ALL SHARE REAL ESTE INDEX which brings home a climb of 0.99%. On the contrary, the sector, at European level, with the index Stoxx 600 Real Estate falling by 2.01%.
Among the real estate companies listed in Piazza Affari, Aedes It is the best title and earns over 2 percentage points. Well, moreover, IGD (+1.6%). On the side of the falls, Rehabilitation marks a strong 5% decrease and Live in of 6.6%. Down too Brioschi which slips by 3.3%. Flat Gabetti.
Macroeconomic data
The trust of the US real estate sector falls, summarized by the‘Nahb index. In June, the data stood at 32 points, compared to the 34 points of the previous month. The data is worse than the expectations that estimated a growth of up to 36 points. .
Return to decrease the Mutual questions in the United States. In the week to 13 June, the index that measures the volume of mortgage loan applications records a 2.6% decrease, after the 12.5% increase recorded the previous week. The index relating to refinancing requests fell by 2.1%, while that relating to the new questions dropped by 3%. The Mortgage Bankers Associations (MBA) indicated that the rates on thirty -year mortgages dropped to 6.84% from 6.93% previous.
Sector studies
The market of real estate securitizations In Italy he continues his rapid expansion. In just twelve months, the number of real estate SPVs grew by 43%, going from 47 to 67, while the total size of the segment has now reached 3.8 billion euros, (vs. 2.5 billion euros in 2024 with an increase of over 50%). These are some of the data presented during the conference “Real Estate Security for Real Evolution in Banking”, now in its second edition and organized by Zenith Global, Italian leader in structured finance operations, with the scientific contribution of SDA Bocconi and in partnership with Deloitte.
May 2025 The more dynamic month of recent years for the US real estate market With new peaks on several fronts and a positive trend that consolidates month after month. According to the latest edition of theUSA Market Housing Report Published in June by Remax, a lively context emerges, supported by an ever wider offer, stable prices and a recovery of transactions spread throughout the country. The offer of properties for sale has recorded a 34.8% increase on an annual basis, touching the highest level of the last few months and continuing uninterrupted growth for 17 months. This expansion is accompanied by an increase in the new advertisements, which mark a +7.9% compared to May 2024, thus consolidating the fifteenth consecutive month of growth. Prices also confirm a stable and slight rise: the median sales price reached 442,000 dollars, with an increase of $ 2,500 compared to the same month of 2024. The sale have scored a +8.6% compared to April.
In the first quarter 2025, according to what is detected byIstatgrowth on an annual basis of homes of homes Buyed by families remains stable at 4.4%. In particular, it accelerates the tendential dynamics of the already existing homes, which rises to +4.9% (the highest value since 2010, the year of the start of the Historical series of the IPAB), and the prices of new homes, which descends to 1.5%, eased. The number of purchasing of homes records an increase of over 11% nationally. Growth affects, even if with different intensity, all territorial areas.
