If you’ve found yourself daydreaming about owning your own property in Italy but aren’t yet ready to relocate, you might be looking for a home that can be easily rented out. The most important factor in determining whether your property will be in demand by tourists and locals alike is—you guessed it—location. The best short-term rental markets in Italy are locations that produce the highest and most consistent income year-round, which include Italy’s four major tourism hubs. Some lesser-known regional markets are also in high demand during most of winter, spring and summer.
Venice
This city on the water is a relatively small but high-density, heavy-traffic market. Venice is a high-profile tourist location with a limited inventory of apartment rentals. This makes it less affected by seasonality and keeps prices elevated throughout the year. According to insideairbnb.com, the average short-term rental in Venice was booked for 104 nights out of the year and charged a nightly rate of €211. As of March 2023, properties in Venice were listed for sale at an average price of €3,000/sq. meter and upwards of €4,500 in the historic center and surrounding islands.
Rome
The eternal city is a behemoth of history, art and culture and is by far the largest city in Italy. With a population of almost 3 million, Rome sees a near constant influx of visitors for reasons of business, tourism, education, or pilgrimage. The average short-term rental in Rome was occupied for 79 nights out of the year and rented at a nightly rate of €215. As of March 2023, properties in Rome were listed for sale at an average price of €3,300/sq. meter and upwards of €5,000 in the historic city center.
Florence
Dante’s hometown is the favorite destination of many visitors from Europe and North America. A mid-sized city, much bigger than Venice and much smaller than Rome, Florence sees high tourist traffic during spring and summer but remains bustling throughout the year thanks to a large population of Italian and international students. The average short-term rental in Florence was booked for 84 nights out of the year and charged a nightly rate of €208. As of March 2023, properties in Florence were listed for sale at an average price of €4,100/sq. meter and upwards of €5,000 in the historic city center.
Milan
Italy’s fashion capital is also its economic center. Among Italians, Milan is less known for its stunning Duomo than for its booming economy, tight labor market, and ever-increasing prices. Milan is home to several renowned universities (Politecnico di Milano and Bocconi University, among others) and most large Italian corporations. While not a primary tourist destination, the city sees steady business traffic throughout the year, with the exception of the month of August. The average short-term rental in Milan was booked for 52 nights a year and charged a nightly rate of €181. As of March 2023, properties in Milan were listed for sale at an average price of €5,200/sq. meter, and upwards of €7,000 in the city center.
Multiseasonal markets
Many Italian coastal towns radiate energy and excitement in summer but are relatively quiet during most of the year. There are a number of destinations, however, that see a significant influx of visitors during multiple seasons. Various mountain towns are swarming with skiers from late December to early February, but are also desirable hiking destinations during spring and summer. Here are a few top multi-seasonal destinations across multiple regions:
- In Trentino Alto Adige, the northern Trento province.
- In Veneto, the Altopiano di Asiago and the northern Belluno province.
- The small Alpine region of Valle d’Aosta.
- In Piedmont, the beautiful Val di Susa.
- In Abruzzo, the Parco Nazionale del Gran Sasso.
- In Lombardy, the Valtellina valley.
Homes in these markets are generally rented out for less than two months out of the year and are mostly occupied during weekends and holidays, when they are able to charge nightly rates comparable to top tourist cities.
If you plan to use your property to generate income, we will conduct research on your behalf and share data on various short-term rental markets in Italy so that you can make an investment that’s right for you.
