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.

Housing cooperatives in Turin, Italy, play a significant role in addressing the city's housing needs, particularly for vulnerable populations. These cooperatives offer affordable housing options, with average rents 20% lower than private rentals. The city's housing market is predominantly owner-occupied, with only 18% of housing being rentals, and a small portion of this being social housing.

In recent years, new housing cooperatives have emerged in Turin, reflecting a growing interest in cooperative housing models. These cooperatives are often non-profit and democratically controlled by their members, ensuring that housing is provided at a quality/price ratio similar to or lower than social housing.

The city promotes cooperative housing through various initiatives. For example, the NETCO project, a network of collaborative housing programs, has been highlighted as a promising model. Additionally, public-private partnerships and the role of cooperatives as non-speculative actors in policy design are emphasized. These efforts aim to provide stable and affordable housing solutions, contributing to the city's broader housing strategy.