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The slow descent of the capital's property prices continues, falling 0.2% in the summer quarter to stand at an average of 2,998 €/m2. This is the finding of the research department of idealista, Italy's leading real estate portal, which also notes a slight drop in house values on an inter-annual basis: -0.4%.

Price trends

The performance of the capital's 27 districts is mixed, with 13 areas in positive territory, led by Casalotti-Selva Nera-Valle Santa (4.5%), Roma Centro (3.1%) and Aurelio (2.1%). The rest of the increases are less than 2%, ranging from 1.7% in Prati to 0.2% in Roma Est- Autostrade. Stable in this quarter are the districts of Casal Palocco-Infernetto and Garbatella- Ostiense, the decreases in the other 12 districts particularly affect Monte Sacro (-3.6%), Nomentano-Tiburtino (-2%), Trionfale-Monte Mario and Malagrotta-Casal Lumbroso-Ponte Galeria di Giustiniana-La Storta-Olgiata (-1.1% both areas).

Prices/m2

On the price side, the centre of the capital, with 6,544 €/m2, is the district with the highest house prices, followed by Parioli (5,797 €/m2) and Prati (5,318 €/m2). With real estate values above the city average of €2,998, there are 9 other districts with prices ranging from €4,379 in Nomentano-Tiburtino to €3,129 in Gianicolense-La Pisana.

On the other hand, the cheapest neighbourhoods for buying a house in the shadow of the Colosseum are Roma Est Autostrade (1,917 €/m2), the only area under 2,000 €/m2, Labaro-Prima Porta (2,099 €/m2) and Giustiniana-La Storta (2,248 €/m2).

The situation in the province

The province of Rome also saw a drop in house prices (-1.3%) in the last quarter, to €2,446/m2 on average. Of the 61 municipalities monitored by idealista, 30 are recovering, 30 are declining, while Fiumicino maintains stable prices compared to three months ago.

Labico (6.5%), Mentana (5.4%) and Ardea (4.5%) led the largest increases in the quarter. On the other hand, more conspicuous falls occurred in the municipalities of Segni (-17.7%), Lanuvio (-10.4%) and Gallicano nel Lazio (-9.9%). As far as prices are concerned, Frascati (2,660 €/m2) is the most expensive municipality in the Roman hinterland, while Arcinazzo Romano (818 €/m2) is the cheapest.

Trend in house prices in Rome

AreaPrice (euro/m2)Quarterly change
Centro6,5443.1%
Parioli5,7970.9%
Prati5,3181.7%
Nomentano-Tiburtino4,379-2.0%
Appio Latino4,0020.8%
Aurelio3,8732,1%
Eur-Torrino-Giuliano Dalmata3,7301.6%
Ardeatino-Appio Pignatelli-Cecchignola3,4531.1%
Garbatella-Ostiense3,4210.0%
Portuense-Magliana2,983-0.4%

The comment

According to Vincenzo De Tommaso, head of idealista's Studies Office, "The growth in house asking prices is cooling down, after the steady rise in interest rates has made buyers more reflexive, having gradually lost purchasing power in recent months.

The replacement market was particularly hard hit, while those needing a home Immediately revised their plans, gave up a few square metres or moved to more peripheral areas, but still bought. Opportunities for investors (including foreigners), on the other hand, who could take advantage of this moment in the market to snatch up bigger discounts when buying and selling, which could be good news for those looking to buy a house without having to take out a mortgage.

For the next 3-6 months we anticipate a stabilisation or slower growth of prices in the centres or areas of higher housing demand, declines in the rest of the country where demand was already weak. In any case, there will be a substantial rebalancing of housing supply and demand after the rapid changes in the market in the post-pandemic period".

The complete report on the province of Rome can be found at: https://www.idealista.it/sala-stampa/report-prezzo-immobile/vendita/lazio/roma-provincia/