The cost of real estate in Italy in different regions

According to the geographical and territorial principle, Italy can be divided into north, center and south, which differ greatly from each other in many respects. Real estate prices also differ in different regions of Italy. In this regard, the mild climate, developed infrastructure and proximity to sea or ski resorts, not to mention the condition and quality of housing, are of decisive importance. In addition, some resort towns – such as Forte dei Marmi, Viareggio, Rimini, San Remo, Portofino – have already developed a reputation as elite places, which also affects demand and price.

At the end of last year, the highest real estate prices in various regions of Italy were recorded in Portofino, where they exceeded the bar of 20 thousand euros per square meter.

Among the regions of Italy, the leaders are also Valle d’Aosta (on average 3 thousand euros per sq.m.), Trentino-Alto Adige and Liguria (2.6 thousand each), Tuscany and Lazio (2.4 thousand each), Sardinia (2.3 thousand), Lombardy and Campania (1.9 thousand each). In all other areas, prices seem quite affordable, and their growth is minimal, and this does not occur throughout the country. However, buying property in prestigious regions of Italy is a profitable investment, since the cost of renting luxury housing remains high regardless of market price fluctuations.

This type of real estate is mainly concentrated in the north and north-west coast of the country, where industry is developed and the “closeness of civilization” in the form of Switzerland and France is felt.

Buyers tend to be well educated, almost all of them own their own businesses or hold management positions in large enterprises. Additionally, there is a difference between their nationality; the choice in favor of Liguria, which is called the “Italian Riviera,” is made mainly by Italians, followed by Russians, and British citizens prefer to settle in Tuscany. The Swiss, Germans, Austrians, French and Americans are increasingly deciding to buy luxury real estate in Italy, while the share of Chinese, unlike Spain and Portugal, is small due to the lack of a Golden Visa program.

The lowest prices in Italy are recorded in its southern regions, including the island of Sicily. However, according to the results of last year, the cheapest residential real estate in the regions of Italy was in Molise, on the east coast of the country – just over a thousand euros per square meter.

Moreover, in the southernmost regions, Calabria and Sicily, it exceeded 1,200 euros. Such low prices compared to the northern part of the country are explained by the lack of all the necessary infrastructure, a higher crime rate, and an outdated housing stock.

Property prices in various cities in Italy


Among the large cities of Italy, a number of which are of tourist interest, but are not considered resorts, the undisputed leader is the country’s capital, Rome.

Decent housing in the Eternal City that does not require renovation costs from 2.5 thousand euros per square meter, if we are talking about remote areas, and in the center this figure increases at least three times.

Following Rome is perhaps one of the most visited cities in the world by tourists, Venice. Despite the abundance of guests from other countries of the world at any time of the year and the cosmopolitan nature of the city, it is quite possible to buy real estate in Venice at prices comparable to those in the capital – from 400 thousand euros in its central part, and this does not mean “luxury” housing, but a completely ordinary apartment with three bedrooms.

Approximately the same price level was recorded in Milan and Florence. Due to its convenient geographical location and high level of economic development, Milan is interested mainly in three categories of buyers: Italians from other regions who want to improve their financial situation, lovers of holidays in ski resorts (in the case of most women, shopping) and business people doing business with companies from nearby countries.

Large investors can also be considered such people, since investments in real estate in Milan, where various major events regularly take place, bring consistently high income.

The cost of local real estate varies from 2000 to 7500 per square meter with an average value of 3700 euros per sq.m., although with a certain amount of perseverance you can find an apartment on the outskirts of the city for no more than 200 thousand euros.

Another Italian city where prices are higher than average than throughout Italy is Florence, which is famous for its abundance of attractions. The city, where such famous people of the past as Dante Alighieri and Michelangelo worked, is only slightly inferior to Rome and Venice, falling slightly short of the average value of 3800 per sq.m. However, a modest apartment on the outskirts, far from ancient monuments, historical areas of the city and, perhaps, requiring the most minor cosmetic repairs will cost already one and a half thousand euros per square meter.

The available real estate in Italian cities is not limited to this, and you can buy decent apartments in Siena, Genoa, Bologna and Naples. It should always be borne in mind that the most expensive are villas and detached houses with land plots, on which swimming pools are often located.

Rural property prices in Italy


Recently, not only rural tourism and environmentally friendly products are gaining popularity all over the world, but also living in areas remote from large industrial cities.

Of course, we are not talking about dilapidated houses in villages and small towns for 1 euro, which, according to local laws, will need to be restored and their façade restored to a historical state, which can cost quite a lot of money. This refers to the unpromoted resorts of Liguria and Tuscany, where a villa costing up to ten million euros is not considered too expensive.

Rural properties are modest one or two storey houses with two or three bedrooms and a small garden that are in good condition. Depending on the region, prices for rural real estate in Italy almost never exceed 100 thousand euros, unless, of course, you take into account all the expensive regions – especially near the three famous lakes and a few tens of kilometers from large tourist cities.

If the building requires repairs and interior decoration, then the cost of the entire facility is reduced by 1.5-2 times. Most often, such houses are found in Puglia, which is excellent as “vacation housing” – especially for families with children.

Advantages of buying property in Italy


Be that as it may, real estate in Italy, despite a number of disadvantages (for example, the lack of the possibility of obtaining citizenship under an accelerated program), has a number of undeniable advantages compared to many of its competitors. So, if we are talking about real estate prices in various regions of Italy, then, other things being equal, they will be lower than in neighboring Switzerland or France, not to mention the standard of living.

The main reason is the cost of building materials, advanced technologies and construction machines, which are considered to be among the highest quality in the world.

In addition to value for money, Italy offers a large selection of real estate – from modest apartments to a medieval family castle, many of which are now owned by celebrities from the world of sports and show business. Moreover, they are located throughout the country, and all that remains is to choose the region to live in and the price range.

Real estate prices in Italy did not fluctuate as sharply during the financial and economic crisis as in Spain or Greece, the key to which is the country’s stable political system. This is evidenced by the fact that almost 80% of Italians are owners of their homes, being confident in the future. Therefore, if you decide to buy real estate in Italy, you can be sure that such an investment will be fully justified and, when rented out, will bring profit over time.

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