Rental prices in Italy can vary widely depending on the location and type of property. In general, rental prices tend to be higher in major cities such as Rome and Milan, as well as in tourist destinations like Florence and Venice, and in the past year, the price per month of rentals in Italy has been on the rise. Moreover, the inflation rate in Italy remained high at the end of 2022, (+11.6 year-on-year), but in many cities this figure is exceeded by the increase in rent. In no fewer than 21 Italian cities, in fact, landlords' asking prices for rentals have risen by more than 11.6% compared to 12 months ago. Let's find out more about the situation in detail and have a look at how much rent is in Italy in 2023.
Despite the fact that the rental market in Italy has recorded a 3.5% increase in rents over the past year, according to the report by idealista's statistics office, in some Italian cities the leap has been decidedly substantial, so much so that it has exceeded 11.6% (the annual increase in the rate of inflation recorded by ISTAT in December 2022), for a scenario in which rents have grown more than the national consumer price index.
Rental prices in Italian cities
In particular, as far as Italy's regional capitals are concerned, the podium of the highest price rises is made up of the smallest cities such as Campobasso (35.2%), Potenza (22.4%) and Catanzaro (19.1%). Just outside the top 3 is an important market such as Venice, where the average demand from renters has risen by 17.4% over the past year. The capital of Veneto is preceded by Verbania (18.5%).
Among the regional capitals with rent increases above the inflation rate measured in December 2022 (11.6%) are Bologna (12.5%), Turin (12.4%) and Genoa (12.2%). Cosenza, Mantova, Piacenza, Caserta, Siena, Forlì, Lecce, Lecco, Rovigo, Taranto, Prato, Ragusa and Cremona also complete the list of Italian cities with annual rises higher than 11.6%.
In Milan, on the other hand, rents in the last year have risen by 11.2%, just below the threshold of the inflation rate recorded in December 2022 (11.6%). Decidedly smaller increases were recorded in Rome, which stood at 6.8%, about 5 points lower than the December Consumer Price Index.
Nine provincial capitals bucked the trend: Brindisi (-0.4%), Perugia (-1.9%), Savona (-2.1%), Grosseto (-2.1%), Vibo Valentia (-2.2%), Carrara (-2.7%), Biella (-2.9%), Cuneo (-6.4%) and Ravenna (-7.2%) with negative variations.
Rental prices in Italian provinces
As regards the analysis of the provinces, there are 22 areas in which the average growth rate of rents exceeds that of the annual inflation recorded in December 2022 (11.6%). The most evident increases are found in Campobasso (25.7%), Massa-Carrara (24.4%) and Pordenone (21.3%).
Increases in excess of 15% have been experienced in many Italian provinces such as Lucca (20.7%), Savona (18.8%), Forlì-Cesena (18.1%), Trento (17.9%), Rieti (17.6%), Latina (17.4%), Sassari (17.4%), Potenza (17.1%), Venice (16.3%), Livorno (15.1%).
In the province of Milan, the average increase in rents was around 8.4%. The variation drops to 1.9% in Rome and its metropolitan hinterland, but is higher in the provinces of: Messina, Biella, Crotone, Reggio Emilia, Teramo, Sondrio, Bari, Agrigento, Barletta-Andria-Trani, Nuoro, Vibo Valentia, Enna, Grosseto and Udine.
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There are several ways to find property for rent in Italy, but one of the most popular and easiest ways is to use online real estate listing websites, such as idealista. On idealista, you'll find a wide range of rental properties available in Italy, allowing you to search by location, price, and other factors.
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