Rome

Italy's housing market slumps to lowest level since 1985

448,364 properties sold in 2012, 27.5% down on 2011

Italy's housing market slumps to lowest level since 1985

Rome, May 14 - The housing market in recession-hit Italy slumped to its lowest level since 1985, according to a report released Tuesday by the country's inland revenue agency and banking association ABI. It said that 448,364 properties were sold in 2012, over 150,000 fewer (27.5%) than in 2011. It was the property market's worse annual performance since 1985, when 430,000 homes were sold.

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