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Part of Italy and Spain are facing economic challenges, specifically housing market strains, with the crisis in Spain being noted as more acute.

How does the housing crisis in Italy affect the regional market of Calabria?

High vacancy rates strain Calabria's housing market amid national crisis The national housing crisis is manifesting in Calabria through significant property vacancy, with empty privately owned homes making up almost 40 percent of property in Reggio Calabria and Messina. This high rate contributes to the broader strain on the regional housing market, where many workers struggle to afford housing, with some in large cities spending over half their salary on rent. Political pressure is mounting nationally, leading to proposals for tax measures aimed at encouraging long-term rentals over tourist lets.

Reported by 2 independent outlets Written Oct 6
Effect
Strong negative
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How it reaches Calabria

Reported by news outlets

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The facts so far

As reported. Each one links to where it comes from.

  • At least seven million people in Italy are in "serious difficulty" as more than a third of their income goes on rent or mortgage payments.thelocal.it
  • Empty privately owned homes make up almost 40 percent of property in Reggio Calabria and Messina.thelocal.it
  • Italy has 9.6 million empty privately owned homes nationwide.thelocal.it
  • 30 to 35 percent of workers in large urban areas are in the fascia grigia, earning too much for public housing but not enough to afford market rent.thelocal.it

Why it matters

The high vacancy rate in Calabria signals a deep structural issue within the regional housing market, potentially impacting local economies and social stability. When a large percentage of property is empty, it suggests a disconnect between housing supply and demand, which is exacerbated by rising rents that push essential workers, such as nurses and teachers, into shared accommodation.

This crisis is part of a wider national debate, with opposition politicians warning that Italy's housing situation could soon resemble the social time bomb described in Spain. The government is facing political pressure to introduce measures, such as a flat tax on long-term rentals, to encourage landlords to support stable housing over lucrative short-term tourist lets.

What we don't know yet

  • Will the government introduce structural housing plans or tax measures to address the high vacancy rates in Calabria?
  • How will the high percentage of empty homes in Reggio Calabria affect local property values and investment?

Is this still moving?

Gone quiet
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What would change this answer

The government introduces a flat tax measure on long-term rentals.This could increase the supply of long-term rental units, potentially easing the strain on the housing market in Calabria.
The percentage of empty privately owned homes in Calabria decreases.This would indicate that market forces or new policies are successfully addressing the supply-demand imbalance in the region.

Reporting

Keep going

The full eventItaly faces housing affordability crisis and specialized surgeon shortages Everything aboutCalabria

Brind's analysis is written by AI from the reporting linked above and can be wrong. It is not investment advice; do your own research.