The Italian residential real estate market stagnated for the second consecutive year in 2023, but growth is expected to resume in 2024 and continue until 2028. By 2028, the value of housing transactions
. In Italy, an overwhelming majority of the population
, and houses or flats are considered a safe investment. North-Western Italy – the region of cities such as Milan, Turin, and Genoa - is the
in the country, concentrating one-third of transaction activity in the housing market. In particular, the region of Lombardy registered the
.
How have house prices developed in recent years?
According to the Italian House Price Index, house prices decreased between 2010 and 2015 and
have plateaued since, with a slight uptick in 2022. The record-low interest rates since the onset of the coronavirus (COVID-19) pandemic led to an unprecedented housing market boom worldwide, and although the effect was more modest in Italy,
house prices rose by 3.8 percent in 2022. Property prices differ widely, with regions in northern Italy
significantly more expensive than those in the south. In the two least affordable regions – Aosta Valley and Trentino South-Tyrol, the price of residential properties per square meter exceeded 2,500 euros in 2022. In the historical center of Rome,
the average house price was over 7,000 euros per square meter, and in the central district of Milan, it
went as high as 10,000 euros per square meter.
How much does renting a home cost in Italy?
Despite the cultural attitude towards homeownership, young people find it difficult to afford to buy a house and are forced to rent instead. In October 2023,
renting a dwelling in Italy cost approximately 12.7 euros per square meter, on average. Renting is more common in the largest cities where properties are pricier and competition is fierce. For example, a rental home in Milan cost 10 euros per square meter
above the national average in 2023. Most likely due to the pandemic, the number of rental agreements in the Italian residential market
decreased in 2022 but remained above 2020 levels.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
