The national pattern of house price dynamics masks considerable heterogeneity across local areas and markets; disparities are even higher looking at house price levels. In this paper we describe these structural differences across Italy, with particular focus on the role of metropolitan areas...

Developments in the real-estate sector are of crucial importance for the business cycle and financial stability. This study analyses developments in the Italian housing market on the basis of both real and financial variables. Following the sharp contraction of the market during the financial...