Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Total population60.55 million60.6 million60.77 million
WDI
A.1.1
Average household size 2.30 
OECD Stat
A.1.3
Urban population (% of total)69.28% of total69.12% of total68.96% of total
WDI
A.1.4
Urban population growth (annual %).11%.11%.11%
WDI
A.1.5
A.2 Economy
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
GDP, current prices (U.S. dollars)1,937,894 USD (millions)1,850,735 USD (millions)1,815,757 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)2,310,902 USD (millions)2,234,500 USD (millions)2,170,909 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)31,984.01 USD 30,507.18 USD 29,866.58 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)38,140.34 USD 36,833.09 USD 35,708.31 USD
WEO
A.2.4
GDP, constant prices (Percent change)1.47%.88%.76%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change).69%.5%.08%
WEO
A.2.6
GDP, deflator (Index)107.66106.61105.76
WEO
A.2.7
Consumer price index108.71107.33107.46
WDI
A.2.8
GINI Index33.00 32.40
OECD
A.2.9
Median national annual household income 57,509.2 USD  
OECD Better Life
A.2.10
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Unemployed11.2%11.7%11.9%
OECD
A.2.14.3
Interest Rates:A.2.15
Central bank lending/discount rate  3%
IFS
A.2.15.1
Yield on 3 months treasury billsNot availableNot available.05%
IFS
A.2.15.2
Yield on 10-year Government bond2.11%1.49%1.71%
IFS
A.2.15.3
Average bank deposit rate 1.1%1.2%
IFS
A.2.15.4
Lending rate3%3.5%4.13%
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Number of dwelling units:B.1.1
TotalNot availableNot availableNot available
ECBC
B.1.1.1
Percentage of vacant units  22.25% of total
2011 Population and Housing Census, Hypostat
B.1.2
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied units72.4% of total72.3% of total72.9% of total
Eurostat
B.1.4.1
% of owner units with a mortgage13.6% of total15.9% of total23.05% of total
Eurostat
B.1.4.2
Private rental units18% of total16.8% of total15.4% of total
Eurostat
B.1.4.3
Public / social rental units9.5% of total11% of total11.7% of total
Eurostat
B.1.4.4
Estimated Number of units completed/yearB.1.5
Formal sector/registered49,603 units44,583 units42,920 units
Istat (Italian Statistics)
B.1.5.1
Number of recorded urban housing transactions/year542480533741448893
Hypostat
B.1.6
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4


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Notes:
Notes:
Notes:
Notes: Actual value is -0.17
Notes: Actual value is -0.34
Notes: all mortgages are written by banks
Notes: Capital gains tax levied if property was held for less than 5 years under "miscellaneous income"
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units
Notes: figure represents tenure by households, not tenure by units  
Notes: figure represents tenure by households, not tenure by units  
Notes: figure represents tenure by households, not tenure by units 
Notes: found by taking average household size * median per capita household income
Notes: Gains from property sale held for less than five years are taxed as income
Notes: In 2015, interest rates were at historic lows. Therefore, many people took loans with a fixed rate as they did not want to expose themselves to rate increases in the future
Notes: includes all mortgages with a term greater than 10 years
Notes: maximum term is extended to 40 years for first-time home buyers under 35
Notes: Property tax is generally levied at 0.76%
Notes: report gives a range of 33-40
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Table TSC20400
Notes: Taken from Introduction to Mortgages and Mortgage Backed Securities by Richard Green, 2013
Notes: Tax rate ranges from 0.4% to 0.76% depending on the property location
Notes: The First Home Guarantee Fund enables mortgagers to request a loan of up to 100% of the property value (exceeding the maximum LTV of 80%)
Notes: The transaction tax is levied at 2% of the sale price
Notes: The transaction tax is levied at 2% of the sale price