Le cooperative di abitazione aderenti a Legacoop Abitanti (Centro Studi Legacoop, 2017)

The report Le cooperative di abitazione aderenti a Legacoop Abitanti was produced by the Centro Studi Legacoop, the research centre of the national association Legacoop Abitanti. The study, commissioned by the Associazione Nazionale Legacoop Abitanti, analyses the composition, economic performance and regional distribution of Italian housing cooperatives that were members of the network as of 31 December 2015. It draws on the Legacoop AreaStudi database and presents data collected for the period 2008‑2015, offering a comprehensive picture of the sector’s size, assets and social loan activity.

At the reference date the network comprised 691 active cooperatives, representing more than 340 000 members and roughly 1 000 employees. The cooperatives collectively generated a total production value of €479.7 million and held net assets amounting to €2.64 billion. Social loans, a key instrument for affordable housing, were provided by 96 cooperatives, amounting to over €700 million in aggregate. Twelve structures were in the process of repaying social‑loan debt totalling about €8 million.

The majority of cooperatives are concentrated in northern Italy. Lombardy alone hosts 119 cooperatives (≈17 % of the total) and accounts for 38 % of total production (€180.4 million) and 50 % of net assets (€1.316 billion). Emilia‑Romagna, Lazio and Piemonte follow, together contributing roughly one‑third of production. The southern and central regions host fewer cooperatives, with Veneto, the focal point of the editorial angle, counting only two members, underscoring its marginal position in the Legacoop network.

Across the whole sample, the cooperatives recorded a cumulative loss of €28.4 million in the 2015 fiscal year, with 452 entities reporting a negative result. Losses were concentrated in the “cooperative a proprietà divisa” segment, which saw production fall from €619 million in 2008 to €152 million in 2015. Despite the overall deficit, the sector’s net equity remained robust, reflecting a high proportion of revaluation reserves (over 56 % of net assets).

The data series show a clear downward trend in production for the divided‑ownership cooperatives, while the indivisible‑ownership and mixed‑ownership categories maintained higher output levels. Net equity displayed modest growth, rising from €2.62 billion in 2008 to a peak of €2.74 billion in 2013 before a slight decline to €2.45 billion in 2015. Social loan volumes remained relatively stable, hovering around €700 million, with a slight dip in 2015 to €684 million.

The cooperatives’ reliance on social loans and the substantial share of equity held in revaluation reserves indicate a financial model oriented toward long‑term affordability rather than profit maximisation. The sector’s extensive membership base (over 340 000 soci) and its contribution to regional employment (≈1 000 staff) further underline its social relevance. However, the prevalence of losses, especially among the divided‑ownership cooperatives, raises questions about the sustainability of certain business models within the cooperative housing framework.

The Legacoop study provides a data‑rich snapshot of Italy’s housing‑cooperative sector, highlighting its size, regional imbalances, financial structure and reliance on social‑loan mechanisms. For stakeholders interested in sustainable housing across Europe, the report illustrates both the potential of cooperative ownership to deliver affordable homes and the challenges of maintaining fiscal health in a fragmented regional landscape. The concentration of assets and production in Lombardy suggests that policy interventions aimed at fostering cooperative development in under‑represented regions could enhance the sector’s overall resilience and contribution to sustainable urban housing.