3 ms·

Does this mean most Italians rent their homes for life and a small fraction purchase their homes in cash?

• epolanski 5y ago
  No, we have some of the highest home ownerships in the world. 1/3rd of salary is more than enough to buy you a home. That's enough to get a 200k loan for 30 years while making average salary (1700 net euros).
  • kqr 5y ago
    Aha you mean the interest cannot exceed 1/3 of salary, not the principal? That makes more sense.
    • sokoloff 5y ago
      More likely to be based on the payment (principal plus interest) than on the interest alone.
    • epolanski 5y ago
      I'm not sure I expressed myself correctly: whatever you make you can't have your loan payments exceed one third of your monthly salary. So if you make 2000 euros, your loans cannot exceed 666 €.