House prices in Italy increased by 0.6% in the first quarter of 2024 compared to the same period last year, to an average price of 1,850 euros per square metre. However, as expected, the situation varies considerably depending on the geographical area. But where do people search for the most properties? And where are properties most expensive? We have the answers, thanks to a recent report by idealista/data that has analysed the most expensive and most sought-after locations in Italy to buy a house in Italy in the first quarter of 2024.
The study, in detail, focused on the listings published on idealista, Italy's leading real estate portal. The report examined the data available for municipalities that have listings with an average asking price of over 875 euros/m2 and for which there is a stock of over 975 listings with properties for sale on idealista (and more than 50 for rent). Thanks to this analysis it was possible to rank the 100 municipalities that generated a higher relative demand index (email contacts and shares) per listing and those where the average final sale price is higher.
The most popular places to buy a house in Italy
In detail, the relative demand index implemented by idealista/data summarises the pressure of demand on supply in each area of Italy for the segment of homes for sale. The indicator is based on the number of leads (email contacts and shares) received per listing.
When it comes to the most sought-after locations to buy a house in Italy, the report sees Rome on the top step of the podium, along with Verona, as the two cities score a relative demand index of 3.5. Next come Bologna and Lecce, both with an index of 3.4. And then again Naples (3.3), Cagliari (3.2) and Como (3.1). To find Milan we have to go down to eighth position, with a relative demand index of 3.
The municipalities where, on the contrary, the lowest relative demand indexes are totalled are:
- Cervia (0.5)
- Bagheria (0.5)
- Alassio ((0.5)
- Novi Ligure (0.5)
- Massa (0.5)
- Marsala (0.5)
- Agrigento (0.49
- Forte dei Marmi (0.3)
The most expensive places to buy a house in Italy
Where is the most expensive place to buy a house in Italy? The most expensive place in Italy to buy property is confirmed, as has been the case for some time, as Forte dei Marmi. Here, purchasing a property for residential use means having to spend an average of over 1.5 million euros, a clear sign not only of the exclusivity of the area (the municipality in the province of Lucca is also the one with the lowest relative demand), but also of the large, luxurious properties on offer.
Compared to last quarter, the rest of the podium in the ranking of municipalities with the highest average house prices also remains unchanged. Again in the first quarter of 2024, the silver and bronze medals go respectively to Pietrasanta (669,089 euros) and Alassio (493,352 euros). Once again, the rest of the podium, as is easy to observe, is completed by areas with strong appeal and prestige at a tourist level.
Just below the podium, we find one of the main Italian and European markets, as in fourth place in the ranking is Milan. In the Lombard capital the price of houses is 480,919 euros on average, while in fifth place is Venice (472,194 euros). Rome, on the other hand, comes in 26th place, with an average house price of 305,859 euros.
Find out more about the most exclusive places to live in Italy with our guide