What is the property market like in Italy?
What is the property market like in Italy?

Before…

The Property Bubble: From 2000 to 2008, property prices rose 85% until in that last year they began to fall thanks to the global economic crisis. Prices continued falling for a full 8 years, dropping about 17% until 2016. Depending on the area, this drop was either larger or smaller, with the least affected areas being big cities like Rome, Naples and Milan.

Over the last 3 years, sales of Italian properties have increased, especially in cities like Turin, Bologna and Genoa.

…and now

Prices are still low but the fall in prices is stabilising thanks to the increase in sales.

Prices in different areas

The most expensive houses in Italy are in Venice, with an average house price of around 4401 euro/m2, and the cheapest are in rural areas, where the average is between 450 euro/m2 and 2,000 euro/m2.

Rural areas: (except Tuscany). As mentioned, these are generally the cheapest places to buy property, a two-bedroom house in a small village costing you about 60,000-150,000 euro, depending on the state of the property. There are some more popular regions and ones near to large cities where prices are higher, such as around the lakes (150,000 euro), the Italian Riviera (100,000-300,000 euro) and ski resorts and islands (100,000-250,000 euro).

Tuscany: Left out of the previous assessment because it’s such an outlier for its popularity and expensiveness, especially in the Florence-Siena-Volterra triangle. The most economical places to live in this beautiful province are Mugello, the north of Lucca and Lunigiana.

Cities: House prices in cities are usually between 1500 euro/m2 and 5000 euro/m2, the most expensive being in Milan, Rome and Venice, with prices up to 8000 euro/m2.