Asti’s Older Home Buyers Reveal Italy’s Growing Job Precarity

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Mortgage Age Rises in Asti, Reflecting Broader Economic Trends

Asti, Italy – New data reveals a meaningful shift in the demographics of home buyers in the Piedmont region, with residents of Asti now the oldest in the area to seek mortgages. This trend, highlighted by a recent analysis of over 70,000 loan applications across Italy, points to deepening economic precarity and its impact on long-term financial planning.

Demographic Shifts in Homeownership

The average age of a mortgage applicant in the Asti area has reached 40.6 years, exceeding the regional average of 39.8. Experts describe this figure as deeply concerning, signaling a delay in crucial life milestones for many. Biellese applicants closely follow, averaging 40 years old, while Alessandrino and Torinese residents tie for third at 39.9 years.

This isn’t an isolated case. Across Italy, similar trends are emerging. According to data from the National Institute of Statistics, the average age of first-time homebuyers has steadily increased over the last decade, driven by factors like stagnant wages and the rise of precarious employment.

Economic Instability and Delayed Life Plans

Experts suggest that the rising age of mortgage applicants is directly connected to the challenges of securing stable employment. Obtaining a long-term contract before the age of 40 is becoming increasingly arduous, forcing many to postpone or abandon plans for homeownership and family formation. Financial security is a prerequisite for major investments like a home.

“Without a consistent income, securing a mortgage, making investments, or starting a family becomes incredibly challenging,” notes financial analyst Stefano Santin. The impact extends beyond individual finances, with the province of Asti recording a decline in births, with 27 municipalities reporting zero births in 2025, up from 18 the previous year.

Layoffs and Economic Uncertainty

the situation is compounded by growing job insecurity. The utilization of temporary layoff schemes (Cassa Integrazione Guadagni – CIG) has surged. Approximately 500,000 hours of CIG were authorized between January and June 2024, skyrocketing to 2 million hours in the same period of 2025 – a fourfold increase.Even those with permanent contracts no longer enjoy the same level of job security they once did.

Rising Loan Amounts and Extended terms

As the age of borrowers increases, so does the average mortgage amount. The Asti area experienced a 5% year-over-year increase, with the average loan now reaching €112,289. While still below the regional average of €124,202, this represents a significant rise. Verbano is the exception, with a 3% decrease in average loan amounts, settling at €103,134.

Mortgage terms are also lengthening, with an average duration of 24 years and a typical monthly installment of €540 – among the lowest in piedmont. In Verbano, monthly payments reach €727, reflecting both higher property values and perhaps larger loan amounts.

Mortgage Data Snapshot (Piedmont, 2025)

Province	Avg. Applicant Age	Avg. Mortgage Amount (€)	Avg. Monthly Installment (€)
Asti	40.6	112,289	540
Biellese	40.0	N/A	N/A
Alessandrino/Torinese	39.9	N/A	N/A
Verbano	39.8	103,134	727
Vercellese	39.7	N/A	536
Cuneese	39.5	N/A	N/A
Novarese	39.3	N/A	N/A

The Role of Family Support

Increasingly, financial support from parents and grandparents is becoming essential for prospective homeowners.Many applicants are

What factors are driving older Italians too buy homes in Asti as a response to job precarity?

Asti’s Older Home Buyers Reveal Italy’s Growing Job Precarity

The rolling hills of Asti, in Italy’s Piedmont region, are traditionally associated with wine, truffles, adn a slower pace of life. but a recent surge in property purchases by older individuals – those nearing or already in retirement – is quietly signaling a deeper economic trend: a growing sense of job insecurity and a lack of long-term career prospects for younger generations in Italy. This isn’t simply about idyllic retirement dreams; it’s a reflection of a workforce grappling with precarious employment and limited opportunities.

The Demographic Shift in Asti’s Housing Market

Over the past five years, Asti has witnessed a noticeable shift in its real estate landscape. While foreign investment in Italian property is well-documented (notably in regions like Tuscany and Umbria),the increase in Asti is driven primarily by Italians themselves – specifically,those aged 55 and over. Local real estate agents report a notable rise in inquiries from individuals seeking to purchase homes outright, often with savings accumulated over decades of work.

This contrasts sharply with the typical buyer profile of the past, which included younger families and individuals reliant on mortgages. The trend isn’t limited to luxury properties; it extends to more modest homes in the town center and surrounding villages. This suggests a broader motivation than simply upgrading lifestyle.

The Rise of Precarious Work in Italy

Italy has long struggled with a dual labour market: a protected sector of permanent, full-time employees and a growing segment of workers trapped in temporary contracts, part-time positions, and informal employment. This “precariat” – a term coined to describe the growing class of people facing ongoing precarity – is disproportionately comprised of young Italians.

* Generational Divide: Data from ISTAT (the Italian national Institute of Statistics) shows a widening gap in employment security between generations. while older workers are more likely to hold permanent positions, younger workers are increasingly reliant on short-term contracts.

* Impact of Economic Crises: Successive economic crises – the 2008 financial crisis, the Eurozone debt crisis, and more recently, the COVID-19 pandemic – have exacerbated the problem, leading to increased job losses and a decline in the availability of stable employment.

* Brain Drain: The lack of opportunities is also fueling a “brain drain,” with many young, educated Italians seeking employment abroad.

Why Asti? The Appeal of Affordability and Community

asti offers a compelling combination of factors for those seeking a more secure future, even if that security comes from leaving the customary workforce.

* Lower Cost of Living: Compared to major Italian cities like Rome, Milan, and Florence, Asti boasts a significantly lower cost of living, particularly in terms of housing. This allows retirees to stretch thier savings further.

* Quality of Life: The region is renowned for its high quality of life, with access to fresh produce, local markets, and a strong sense of community.

* Healthcare Access: Piedmont has a relatively well-developed healthcare system, providing peace of mind for older residents.

* Wine & Tourism: The thriving wine and tourism industries offer potential opportunities for part-time work or entrepreneurial ventures, even in retirement.

the Psychological Impact: A Loss of Faith in the System

Beyond the purely economic factors, the influx of older home buyers in Asti reflects a deeper psychological shift.Many are expressing a sense of disillusionment with the Italian labor market and a lack of confidence in the future prospects of their children and grandchildren.

“my son has had three different short-term contracts in the last two years,” explains Maria Rossi, a recent retiree who purchased a home in Asti. “He’s highly qualified, but he can never seem to find a stable position. I wanted to invest my savings in something that would provide a secure future for both of us, and that meant leaving the city and embracing a simpler life.”

This sentiment is echoed by many others, highlighting a growing sense of pessimism about the Italian economy and the ability of the current system to provide meaningful opportunities for future generations.

The Role of Government Policy & Future Outlook

Addressing Italy’s job precarity requires comprehensive policy reforms. some potential solutions include:

1. Incentivizing Permanent Contracts: Providing tax breaks or subsidies to companies that offer permanent employment contracts.
2. Strengthening Unemployment Benefits: Improving the adequacy and duration of unemployment benefits to provide a safety net for those who lose their jobs.
3. Investing in Education and Training: Equipping young people with the skills and knowledge needed to succeed in the modern labor market.
4. Combating Informal Employment: Cracking down on illegal employment practices and promoting formalization of the workforce.

The trend in Asti serves as a stark reminder of the challenges facing Italy’s labor market. While the region’s property boom may offer a temporary solution for some, it also underscores the urgent need for systemic reforms to address the root causes of job precarity and create a more lasting future for all Italians. The quiet exodus to places like Asti isn’t a party of retirement; it’s a symptom of a deeper malaise.