Bologna is the regional capital of Emilia Romagna and is a gem that has long been spared by mass tourism, although its popularity has been on the rise. The city is well known for its fantastic cuisine crowned by the timeless tortellini, but many visitors fall in love with its youthful energy, never-ending porticoes and beautiful red-brick palazzos.

If you are looking at buying property in Bologna, you can expect to find a range of features depending on the age and location of the property. Apartments in the historic center tend to be in centuries-old buildings with wood beamed ceilings, arched doorways, and ceramic tile or parquet wood floors. Newer apartments may have more contemporary open layouts. But even modern buildings incorporate elements of Bologna's classic architecture through arched windows, exposed brick or stone accent walls. In general, living in Bologna embraces a cosmopolitan yet cozy feel. 

Pricing for Property

There are many options for those interested in buying property in Bologna. This wonderful city offers affordable 1-bedroom apartments, palatial penthouses and everything in between. 

Smaller one-beds in outlying areas start around €150,000, while larger or centrally located ones can go up to €300,000. Two-beds in residential neighborhoods range from €250,000 to €350,000. Prime areas like the historic center see prices upwards of €400,000. Family-sized three-beds generally start around €350,000 in most areas, surpassing €500,000 for larger, stately apartments. Premium renovated properties in the most desirable historic center locations command prices up to €1 million. At the highest end, restored medieval palazzos or luxury penthouses in landmark buildings can fetch upwards of €2 million ($2.2 million).

What is it like living in the Centro Storico?

Living in Bologna's historic center, or Centro Storico, is an incredibly immersive experience steeped in history and tradition. The Centro Storico is inside the perimeter of the medieval city walls and is the most sought-after area for those who truly want to experience life in Bologna. It offers an unparalleled opportunity to be surrounded by stunning Renaissance architecture, winding cobblestone streets, and lively piazzas at every turn.

Imagine yourself grabbing coffee at your local bar, protected by the shade of the porticoes, or picking up fresh produce from the streetside markets, and encountering neighbors while out walking. Even in a city of this magnitude, these are daily occurrences that foster a sense of belonging. 

According to Idealista (a major Italian listing website and our data provider for this article), prices in Bologna have been increasing consistently over the recent past (+35% since 2014). Property values, however, are significantly different among various districts and neighborhoods. Idealista divides the Centro Storico into five macro areas: Santo Stefano-Galvani (SE), Malpighi (SW), Marconi (NW), Irnerio (NE) and the Old City Center. 

Santo Stefano-Galvani

This charming district surrounds some of the city's most historic landmarks. Worth a special mention is the Basilica di Santo Stefano, a unique complex of seven churches, built hundreds of years apart. The Basilica faces our favorite city square, which is appropriately triangular: Piazza Santo Stefano. Residents of this district get to experience daily life amid centuries of history. The average asking price in the neighborhood is €4,400 per sqm. The price, of course, increases as apartments increase in size, but it is rare to find a large apartment in the area. 

Malpighi

The Malpighi area is a highly coveted neighborhood for local residents and expats alike. It is considered to be one of the most livable areas in the city, where shops, services, bars and restaurants are all a short walk from each other. This elegant residential district boasts stately 16th-century palaces and quiet, leafy streets. Owning a historic apartment or palazzo in Malpighi allows you to live in grand surroundings while being a short distance from Bologna's top attractions. The average asking price for property in the neighborhood is around €4,000 per sqm.

Marconi

This lively residential district enjoys exposure to the most greenery available within the old city walls, between Parco della Montagnola and Parco 11 Settembre. It is also subject to a considerable amount of traffic due to its proximity to Bologna Centrale, one of Italy’s busiest train stations. Greater traffic and fewer historic buildings result in slightly lower home prices in Marconi, where the average home demands around €3,900 per sqm. 

Irnerio

Property prices are higher in Irnerio, where the average home fetches around €4,200 per sqm. Living in this neighborhood of Bologna provides an appealing mix of history, culture, and modern conveniences. This area includes many historic buildings of the University of Bologna, the oldest University in the world. The district is generally quieter and less touristy than other central neighborhoods, although that can change dramatically during the academic year. Balconies, courtyards and roof terraces are coveted outdoor spaces in this beautiful district. 

Old City Center

Bologna's "Old City Center" is the beating heart of this historic city, where centuries of rich heritage come alive. Property prices are the highest in the city, and average around €4,700 per sqm.

At its centerpiece lies the stately Piazza Maggiore, one of Europe's grandest town squares. This elegant piazza is lined with awe-inspiring sites like the Basilica of San Petronio and the show-stopping Fountain of Neptune. Just steps away stands the massive Palazzo d'Accursio, or City Hall. Its regal facade and arched porticos exemplify Bologna's tradition of prosperity. 

Looming over it all are the iconic Due Torri (two towers) – the tallest of Bologna's remaining medieval towers.

Neighborhoods Surrounding the Centro Storico

Just west of the ancient walls lies the lively Saragozza district, a favorite among students and young creatives. Pilgrims have also been gathering in Saragozza for centuries to prepare for the steep walk towards the beautiful San Luca sanctuary

Heading southeast of the city center, the residential Murri area charms with buzzing streets and stately Art Nouveau villas. Prestigious San Vitale-Massarenti sit east, offering both refined living in urban villas as well as more affordable dwellings in recently built apartment complexes. To the northeast, families flock to San Donato for its sprawling parks and village-like feel. North of the center, the bohemian Bolognina zona is a hub for counterculture and street art. 

Average asking prices here range from €2,500 per sqft (San Donato) to €3,700 per sqm (Saragozza).

For those who want both an idyllic home and proximity to the city center, the hills immediately south of the Centro Storico (The famous Colli Bolognesi) feature expansive villas with gardens and beautiful views of the city. The few and highly sought-after properties in this area command some of the highest prices in Bologna, upwards of €4,500 per sqm.

Wrapping Up

There is a myriad of compelling reasons why Bologna is emerging as an exceptional city for expats to purchase property. Beyond its world-class cuisine, architecture and culture, Bologna boasts a refreshingly livable urban environment. 

The historic city center allows you to experience the inimitable dolce vita while having all modern amenities at your fingertips. Property investment holds strong potential with relatively affordable prices compared to various other Italian cities.