Are property prices rising in Italy? Will house prices drop in Italy in 2022? The currently outlook of the property market in Italy in 2022 are seeing pre-owned property prices at a stand still, something which in the short term in set to continue. While prices skyrocket in other European countries, prices remain stable in Italy with a slight year-on-year increase of 1.3% according to the latest price index from idealista, Italy's leading real estate portal. If you're thinking of buying property in Italy, we have all the details about property prices in Italy in 2022.
Italy property prices by region
At a regional level, Italy is evenly divided into 10 areas with positive variations and the same number showing a negative trend. The largest property price rises were in Lombardy (0.8%), Sicily (0.7%), Trentino-Alto Adige and Sardinia (both 0.7%). Increases in 6 other Italian regions ranged from 0.3% in Abruzzo to 0.1% in Apulia.
On the other hand, the greatest downward indices are to be found in Friuli-Venezia Giulia (-2.1%), Valle d'Aosta (-1.3%), Calabria and Liguria (both registering a negative change of -0.7%). Smaller falls were recorded in 6 other regions, ranging from -0.4% in Piedmont to -0.1% in Umbria.
The region with the highest prices per square metre is Trentino-Alto Adige, at 2,662 euros per square metre. It is followed by Valle d'Aosta (2,570 euros/m2), Liguria (2,478 euros/m2) and Tuscany (2,344 euros/m2). Prices above the Italian average also for Lazio (2,174 euros/m2) and Lombardy (2,048 euros/m2). Below average are the remaining 14 regions, whose prices per square metre range from 1,756 euros in Emilia-Romagna to 875 euros in Molise.
Italy property prices by province
There was also a contrasting trend in the 106 provinces monitored; 8 of these were stable compared to June 2022. The provinces in positive territory are led by Belluno and Bolzano, with increases of 5.2% and 3.2% respectively. Another 46 provinces showed increases ranging from 2.6% in Agrigento to 0.1% in Pistoia. At the other extreme, the provinces whose prices fell the most were Sondrio (-3.5%), Trieste (-3%) and Udine (-2.3%).
In terms of property prices, the most expensive Italian province is confirmed as Bolzano with its 4,347 euros per square metre price average. It is followed by Milan (3,209 euros/m2) and Savona (3,097 euros/m2). Property values above the Italian average in 27 other provincial areas range from 3,020 euros in Lucca to 1,853 euros in Latina. By contrast, the cheapest places to buy property in Italy are currently Biella (617 euros/m2), Caltanissetta (678 euros/m2) and Isernia (714 euros/m2).
Italy property prices by city
The price trend in pre-owned properties in Italian cities sees a slight prevalence of recovering areas, 52 out of 107 capitals monitored, led by Mantua (4.2%), Campobasso (3.3%) and L'Aquila (2.4%). As regards the large city markets, rises were recorded in Palermo (1.7%), Bologna (0.9%), Florence (0.3%) and Rome (0.2%). Milan (-0.1%), Turin (-0.3%), Naples (-0.5%) and Venice (-0.6%) declined. The largest decreases for the month were recorded in Agrigento (-5.3%), Oristano (-3%) and Barletta (-2.6%).
Milan (4,822 euros/m2) once again confirmed its position as the most expensive city in which to buy a home this summer 2022, followed by Bolzano (4,479 euros/m2) and Venice (4,394 euros/m2). Prices were higher than the national average in 33 other cities including Florence (4,006 euros/m2) and Bari (1,846 euros/m2).
On the opposite side of the real estate value scale, Biella (699 euros/m2) is the cheapest capital city ahead of Caltanissetta (733 euros/m2) and Ragusa (750 euros/m2).