Turin

The housing market in Turin, Italy, is experiencing significant challenges. The city is part of a broader Italian housing market that has been sluggish, with falling demand and economic performance issues. In Q1 2023, real estate sales in Italy declined by 5% from the previous quarter and by 11% from the previous year, with all regions, including the Northwest where Turin is located, seeing a decline in sales.

In Italy, approximately 70% of residents own their homes, while about 30% rent. The city of Turin is likely to follow this trend, with a significant portion of its population owning their homes. However, the housing crisis in Turin is characterized by a shortage of affordable housing and rising rents, similar to other European cities.

To address these issues, European governments, including Italy, have implemented various measures such as housing allowances, social rental housing, and rent regulations. Social housing constitutes about 8% of the total housing stock in the EU, with countries like the Netherlands, Austria, and Denmark having larger social housing sectors. Turin likely benefits from these national policies aimed at ensuring affordable housing, but specific local initiatives are not detailed in the sources provided.