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Residential real estate in Italy - statistics & facts

With over 50 percent of all transactions in 2020, the residential is the largest sector in the Italian real estate market. Since an overwhelming majority of Italians live in an owner-occupied home and houses or flats are considered an important and safe investment, it should come as no surprise that the residential market is quite dynamic. North-Western Italy is the most dynamic macro-region in the country in terms of transactions, accounting for 34.5 percent of the total. In particular, the region of Lombardy registered the highest number of transactions and the highest transaction value.

How have house prices developed in recent years?

According to the Italian House Price Index, house prices decreased between 2010 and 2015 and have plateaued since. In 2020, the record low interest rates led to an unprecedented housing market boom worldwide and while the effect was more modest in Italy, house prices rose by 1.9 percent. Property prices differ greatly across regions, with regions in the north of the country significantly more expensive than those in the south. In the two most expensive regions – Aosta Valley and Liguria, the square meter price of residential properties was close to 2,600 euros in August 2021, while in Sicily, it was approximately 1,000 euros. In the historical center of Rome, the average house price was over 7,000 euros per square meter and in the center of Milan it went as high as 9,400 euros per square meter.

How much does renting a home cost in Italy?

As of September 2021, renting a dwelling in Italy cost on average approximately 11.3 euros per square meter. Renting is more popular in the largest cities, where properties are pricier, and competition is fierce. For instance, the monthly square meter rent in Milan was significantly higher than the national average, at almost 18 euros. Despite the cultural attitude towards homeownership, especially young people find it hard to afford to buy a house and are forced to rent instead, mostly due to a lack of financial stability. In recent years, there has been a trend of more and more Italians, especially the younger generation, deciding to rent instead of buying. However, likely due to the coronavirus (COVID-19) pandemic, the number of rental agreements in the Italian residential market decreased in 2020.

Interesting statistics

In the following 5 chapters, you will quickly find the 26 most important statistics relating to "Residential real estate in Italy".

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