What are property prices across Italy? What are the most expensive Italian regions and regional capitals? We analyzed recent listing data from Immobiliare.it to give you interesting insights on how the Italian property market is moving.
After a busy summer, this fall has seen cooling house prices across Italy. The past year, however, saw property valuations increase in all corners of the Italian boot. Over the 12 months ending October 2024, prices in the North of Italy have grown significantly, with +8.0% in the Northwest and +7.2% in the Northeast. The Italian South and Islands were moving at a slower pace, with +2.9% and +2.5%, respectively. On the other hand, the Center of Italy saw the slowest price increases, with an annual rate of +1.0%.
Property Prices across Italy
In October 2024, the average Italian asking price stood at €2,250/sqm (€210/sqft). Property prices are highest in the Northwest, at €2,450/sqm (€230/sqft) on average, and lowest in the Italian Islands, with €1,350/sqm (€130/sqft).
Prices Increased across Regional Capitals
The following table represents the percentage variation in listing prices across Regional capitals over the past 12 months.
Property Prices across Italian Regional Capitals
You won’t be surprised to find that Milan is yet again the city with the highest property prices, with an average of €5,400/sqm (€500/sqft). But the rush to price increases in the business capital of Italy seems to finally be slowing down: in October 2024 month there was a minimal decline of -0.2%, while during the past 12 months, the growth was relatively mild at +1.8%. The second and third most expensive Italian cities are Florence (€4,300/sqm and +4.1% YoY) and Bologna (€3,550/sqm and +4.2% YoY).
Other regional capitals, on the other hand, are forging ahead. The new protagonists are now cities like Bari (+9.8% YoY), Trento (+8.7% YoY), Perugia (+7.3% YoY), Turin (+6.7% YoY) and Venice (+6.2% YoY)
Inventory Held Steady over the Past 12 Months
The following table represents the percentage change in the real estate inventory, i.e. the number of properties listed for sale, over the 12 months. While it slightly decreased during the fall, inventory remains above last year’s level by approximately 4% across Italy.
Inventory across Italy
