Cassa Depositi e Prestiti Attempts to Stimulate Italian Housing Sector
Home prices are struggling in Italy’s residential sector. The Cassa Depositi e Prestiti (CDP), Italy’s state fund, has allocated €3 billion to purchase mortgage-backed securities and other assets as a plan to stimulate the Italian housing market. The current Italian mortgage market is smaller than their Northern neighbors.
In addition, the CDP has reserved €2 billion for residential lending and renovations.
The Cassa Depositi e Prestiti manages a majority share of the savings of Italians. Its postal savings are the prime source of funding. The CDP is a controlling shareholder of the Fondo Strategico Italiano (FSI).
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