The incentives for energy conversion of houses, first and foremost Superbonus 110%, are pushing up the demand for interventions, their generous availability makes it unnecessary to negotiate the prices of building materials, which therefore skyrocketed. Prime Minister Mario Draghi said it three days ago and it can be seen every day on construction sites in Veneto. And this also applies to those who build houses from scratch: new buildings also cost more, to the point that many give up buying because of the conditions that have risen compared to those “on paper” proposed by the entrepreneur just a few months earlier. Those who, on the other hand, still believe that the purchase is feasible, take out mortgage loans with banks for an average amount higher than 3% compared to a year ago. In short, this is the phenomenon that arises by merging indicators from several sources involved in different capacities in the housing market, and which is the basis for the ongoing discussion on whether to continue the various tax benefits in construction.
Mortgages, to begin with. With the exception of the provinces of Belluno and Rovigo, the analysis of the web companies Facile.it and Mutui.it Note that in Veneto in the first quarter of 2022, the average amount requested for the purchase of a house is rose everywhere compared to twelve months ago to peaks of 6.3% in Treviso and 5.5% in Padua, with amounts between 139 and 140 thousand euros. The highest token remains Veronas, with over 146 thousand euros, a province where prices, this time according to Tecnocasa, rose by 3.2%, primarily thanks to the driving effect of the cities on Lake Garda. However, according to analysts at Facile.it, the trend in mortgage lending could not be exclusively linked to the rise in house prices, a phenomenon that could not even happen if the rise in interest rates, especially fixed ones, led to deferrals. There is another factor: the possibility that people under 36, taken only last year, to ask for 100% of the sum contribute to the growth of the average amount necessary and no longer up to 80%.
“We have to start saying no”
On the other hand, he has no doubt about the direct link between the amounts demanded and the rise in house prices. Loris Sonego, President of the Banca della Marca, Bcc for the Iccrea system in Orsago (Treviso). “This is starting to become a cause for concern – he points out – because even in the face of rising rates, if normal in one year, installments corresponding to a monthly salary were paid, today this threshold has been exceeded. If we do not intervene against the expensive bills, I fear that we will have to start saying no for their sake to inquiries from families whose financial circumstances are objectively too tense. ‘ But by exploring the mechanisms that led to the irregularities in the prices of building materials, the Treviso area suggests some observations Moreno Marangoni, national president of the United Real Estate Association (Air) Italy. «To name a few, steel has risen by 250% in two years, but only 100% can be attributed in the last two months and therefore to the effects of the war in Ukraine. Wood has increased by 100%, bricks by 50%, due to the price of the gas needed for its production, concrete by 45%, also thanks to the actual existence of a production monopoly in Veneto.
Bonus yes, bonus no
And the effects of all this can be seen, Marangoni continues, in the decline in the number of construction sites, frozen by distortion of the original accounts. Or in works that have begun and that must necessarily be completed with the client’s awareness of having the margins reduced to almost zero. “We have cases in Veneto where the benefit of ‘Sismabonus’ (50% up to 96 thousand euros, ed.) In practice brings the price back to what the same building would have had before the introduction of the incentives. Just as we have a search for construction sites with low value to be able to regain profits, and a decrease of about 10% in the sale of houses used in exchange for the purchase of other houses. For all this – he closes – I agree with Mario Draghi’s concerns about extending Superbonus 110%“. Those who would like it extended further next September are Paolo Ghiotti, President of the Association of Building Builders (Siv) of Veneto. “An expansion is not a candy to stun the industry. If the materials are delivered to us with delays of 90 or 120 days, the time from today to September is clearly insufficient to complete most works ».
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6 May 2022 (change 6 May 2022 | 07:37)
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