The latest real found that the average selling price of used homes in May 2023 is EUR 1,858/m2 (+1.9 per cent year-on-year). This figure is part of a context in which inflation and mortgage interest rates are also rising, making it more complicated for Italian households to purchase real estate. For this, idealist/news has prepared a table highlighting the areas where values are below the national average. Here are the cheapest neighbourhoods to buy a house in Italy at the moment.
The least expensive neighbourhoods to buy a house
The districts with the cheapest house prices in Italy are all Sicilian. In first place is San Cristoforo in Catania with an average of 668.87/euro/m2, which also shows a slight increase year-on-year (0.3%). The second place goes to Villagrazia in Palermo (702.40 euro/m2 and -26.5% year-on-year). Third place goes to another Catania district: Angeli Custodi-Porto (740.70 euro/m2 and -14.9%).
Neighbourhoods where house prices do not exceed 1,000 euro/m2
According to the analysis of house for sale advertisements published on idealista in May 2023, there are 25 districts in Italy's main municipalities where the average house price does not exceed 1,000 euro/m2. In addition to the first three areas already mentioned, we find in the top 25:
- Palermo - Ciaculli-Croce Verde: 759.80 euro/m2;
- Alessandria - Borgo Rovereto:774.70 euro/m2;
- Catania - Fortino-Acquicella: 807.33 euro/m2;
- Catania - San Leone: 812.47 euro/m2;
- Catania - Villaggio Sant'Agata-Zia Lisa: 814.81 euro/m2;
- Palermo - Altarello: 850.43 euro/m2;
- Alessandria - Galimberti: 863.64 euro/m2;
- Alexandria - Runway: 868.17 euro/m2;
- Alessandria - Piazza Genova area: 881.70 euro/m2;
- Catania - Curia: 883.21 euro/m2;
- Catania - Cappuccini-Ferrarotto: 897.05 euro/m2;
- Alexandria - Europe: 901.13 euro/m2;
- Genoa - Rivarolo-Certosa: 902.35 euro/m2;
- Palermo - Brancaccio-Conte Federico: 943.96 euro/m2;
- Alessandria - Piazza Garibaldi area: 945.66 euro/m2;
- Genoa - San Quirico-Pontedecimo: 948.68
- Genoa - Sampierdarena Alta: 957.48 euro/m2;
- Alessandria - Orti: 985.73 euro/m2;
- Turin - Barriera di Milano: 991.48 euro/m2;
- Palermo - Zisa: 994.19 euro/m2;
- Palermo - Roccella-Acqua dei Corsari: 999.15 euro/m2;
- Palermo - Oreto-Perez: 1000 euro/m2.
The situation in the main markets
Scrolling down the ranking of the cheapest areas to buy a house, the first district among the major cities we find is the Galeria district in Rome, with an average of 1185.27 euro/m2. Another district below the Italian average is San Giovanni a Teduccio in Naples (1282.337 euro/m2). Also in the south is Libertà in Bari (1461.96 euro/m2).
The cheapest Milanese neighbourhood to buy a house, on the other hand, is Gallaratese, which, however, significantly exceeds the national average with an average demand of 2177.56 euro/m2. High prices also in Florence, where the most affordable district is Brozzi-Quaracchi (2878.26 euro/m2). In Murano-Le Vignole-Sant'Erasmo (Venice) the average price is 2931.62 euro/m2.
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