February 2011 - Gruppo Banca Carige

The mortgage market in ItalyIn recent years the rapid growth in the mortgagemarket has slowed down and only in 2009 arecovery took place……partly in response to diminishing interest rates35030025020015010050017,4%12,5%8,5%8,8%6,1%-0,4%Dec-05 dic-06 dic-07 dic-08 dic-09 giu-1020%15%10%5%0%-5%stock (€ bn)annual growthThe Italian mortgage market has a limited size……and Italy shows the lowest mortgage debt-to-GDP ratio of any major Western European nation965753661347Italy France Germany SpainStock as at 30 September 2010 (€bn)70.0%60.0%50.0%40.0%30.0%20.0%10.0%0.0%62.5%37.5% 38.4%18.4%Italy France Germany SpainMortgage debt/GDP as at 31 Dec 09Sources: ECB, Bank of Italy, Agenzia del territorio, BOE, Bank of Spain, CentralBank of Ireland, NVM, Banca d'Italia, Bank of Greece, INE PortugalGRUPPO CARIGE 15