Positive week for the Italian real estate sector, which does better in the sector at European level, in the wake of the signals that speak of a state of good greeting in the sector. Central banks in the foreground, especially the Fed, but also contrasting numbers on the state of health of the overseas sector.
From central banks
The most important appointment of the week was with the Fed: from Jackson Hole President Jerome Powell confirmed the importance of following the data and keeping inflation under control, but also opened to possible interventions on rates in September.
On the ECB front, President Christine Lagarde confirmed the expectation of a phase of slowing the Eurozone economy in the third quarter of the year, due to the increase in the rates imposed by the USA on the assets imported by the EU.
The central bank of Iceland this week decided to keep the interest rate of reference to 7.50% unchanged, to the ovens of an overall inflation that stood at 4% in July.
The macro data of the week
Mutual questions in the United States return to decrease. In the week to August 15, 2025, the index records a decrease of 1.4%, after the +10.9% recorded the previous week. Refinancing requests dropped by 3.2%, while the new questions increased by 0.1%. Trential mortgages rates risen to 6.68% from 6.67% previous.
Sales of existing houses in the United States stood at 4.01 million units in July, exceeding expectations (3.92 million) and recording a 2% increase on a monthly basis and a growth of 0.8% on an annual basis.
Instead, the Nahb index on the trust of the US real estate sector stood at 32 points in August, compared to the 33 points of the previous month and against 34 of the consensus.
In the United Kingdom, the price index of the houses drawn up by Rigtmove, has reported a new drop in houses prices, recording an 1.3% decrease on a monthly basis in August, after -1.2% in July, and record an increase of 0.3% on an annual basis. The index developed by the ONS statistical office also disappointed with a trend growth of 3.7%, less than 3.9% of the previous month and 4% of the consensus.
The news from the sector
An investigation of Facile.it and Mutui.it confirms that the mortgage market and reference market are experiencing a favorable phase, also thanks to the best conditions practiced by banks in the wake of the ECB’s cuts. In the first six months of the year, those who submitted a financing application asked for an average of a mortgage of 137,315 euros, an increasing value of 3.1% compared to the same period of 2024. The amount requested is not the only parameter to increase, the average value of the properties subject to a mortgage are also growing, which reached 208,405 euros (+1%), the duration of the amortization plan, which passed from 24 to 25 years and the average LTV, is to say the relationship between the LTV. value of the mortgage and the property, which reached 72%.
On the corporate front, the aggregation between two managers of real estate funds of the United Kingdom, Federated Hermes Property Unit Trust (FHPUT) and Managed Property Fund (MPF) of Legal & General, was announced this week, which will manage a total assets worth 4.7 billion pounds together. It is only the latest sector consolidation operation in the UK.
Also noteworthy is the French Frey, active in the management of commercial properties, which signed a strategic partnership agreement with Cale Street, of investments and real estate finance founded in 2014 in partnership with the Sovereign Fund of the Kuwait, for the acquisition of three of the main Italian shopping centers – Franciacorta (Lombardy), Valdichiana (Tuscany) and Palmanova (near Trieste) – from Blackstone for Blackstone 410 million euros.
The trend of the sector on the stock exchange
The real estate sector on the Stock Exchange has lived a very positive week, doing better than the Stoxx 600 Real Estate Pan -European Index, which did not record appreciable variations (+0.1% on a weekly basis).
The FTSE Italia Al All Share Real Estate Italian Index, on the other hand, shows a solid increase of 2.35%, performing even better than the MIB MIB market index which records progress of 1.44%.
Among the real estate companies listed in Piazza Affari, the best performance is that of Brioschi, which advances by 6.79% on a weekly basis. The worst is Nextre, which slips by 6.71%. Among the best of the week also Aedes (+4%) and PGD (+3.28%), while inhabite closes the octave in red (-2.13%). Fractional variations for Gabetti (+0.29%) and renovation (-0.50%).
