The summer of COVID-19 is the summer of the holiday home boom in Italy. According to the real estate experts at Tecnocasa, at this moment in Italy's seaside resorts, buyers want to close negotiations on their new holiday home quickly so that they can enjoy the property during the summer. And even those who usually rent their holiday home out to others, are opting to use the property themselves this summer. Let's have a look at the current trends in the market and the average rental prices of holiday homes on the Italian coast this summer.
Trends in the holday home market in Italy
Those who bought a holiday home in Italy to make a profit this year will be able to rely mainly on internal tourism and for a longer period of time. Those who are looking to rent a holiday home in Italy this summer, on the other hand, want to spend longer periods there, more than the traditional two weeks, the average holiday duration in other years.
In general, rental yields vary according to the prices of the cheapest houses in the south of Italy or in less well-known or less trendy locations. Rental prices can also vary according to how the house is furnished and equipped. Looking at coastal areas in Italy, rental prices seem unchanged at the moment, but it remains to be understood how the amount of holiday homes on offer this summer will evolve. The demand for holiday homes to be rented for the summer period of 2020 has increased, especially as a result of greater clarity on the provisions for mobility between regions and measures to respect social distancing in Italy.
Summer rentals in seaside resorts
In Sardinia, reservations seem to be confirmed for the period of July and August. Similar news is also coming out of Liguria, Veneto and Emilia-Romagna, where in several destinations, the majority of holidaymakers seem to have confirmed their holiday rental for the months of July and August. In general, many property owners are also expecting last minute bookings, and also a steady flow of guests, given that many Italians will choose to stay in Italy for the holidays instead of travelling abroad, and due to the fact that the Italian borders are now open to a range of foreign visitors as well.
Average holiday home rental prices in Italy, summer 2020
The following values refer to a two-room apartment sleeping up to four people (prices per month).
Liguria
- Province of Savona: In the municipality of Celle Ligure for a two-room apartment you can expect spend 1,500 euros in July and 1,700 euros in August. In Varazze for a two-roomed apartment will cost around 1,800 euros in July and 2,000 euros in August.
- Province of Imperia: In Bordighera, monthly fees of 1100-1200 euros can be expected in July and 1,500-1,600 euros in August. Diano Marina has prices of 1,600 euros in July and 2,000 euros in August. The summer monthly rentals market in San Lorenzo al Mare sees prices of 2,400 euros in July, 2,800 euros in August and 1,500 euros in September.
Emilia-Romagna
- Province of Forlì-Cesena: In San Mauro Mare for a two-roomed apartment, prices in July reach 1,700-1,800 euros per month and in August 2,000-2,200 euros.
Veneto
- If you plan to head to Jesolo, a two-roomed apartment with sleeping up to four people costs about 2,500 euros per month in August and 1,200-1,500 euros in July.
Lazio
- In Gaeta, expect to spend 1,500-1,600 euros on a holiday hom in July and 2,500 euros in August.
Campania
- Province of Naples: In Ischia, a two-roomed apartment with 4 beds can be rented for 3,000 euros in August (depending on the presence or absence of outdoor spaces and gardens) and between 2,000 and 2,500 euros in July.
- Province of Salerno: In Castellabate there are mainly weekly rentals available, but for monthly holiday home rentals, the following can be estimated: price average around 1,600-2,000 euros in July and 2,600-3,000 euros in August.
Sicily
- In this area, there is a very high demand for tourist rentals. In the area of Castellammare del Golfo for a two-roomed apartment, average prices per week are around 600 euros in July, 700-800 euros in August and 600-700 euros in September.
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