Italy recorded a 0.5% increase in rental prices in July compared to the previous month, according to recent findings by the research department of idealista, Italy's leading real estate portal. This figure is part of a context of steady growth, with a significant increase in fees of 10.4% year-on-year. The average national rental value now stands at €13.5 /m2.
Regions
Only four regions reported negative changes in July compared to the previous month, led by declines in Veneto (-2.8%), Emilia-Romagna (-2.5%), Tuscany (-1.4%) and Marche (-1.2%). All other areas were in positive territory, with the biggest rebounds in Molise (8.9%) and Abruzzo (6.8%).
Valle d'Aosta recorded price increases in the order of 4.8% followed by Trentino-Alto Adige (3.9%). This is followed by Piedmont (2.7%), Liguria (2.3%), Apulia and Sardinia (2.2%). Increases below two % for nine regions ranged from 1.7 % in Friuli-Venezia Giulia to 0.3% in Sicily.
The most expensive regions for rents are Valle d'Aosta, Tuscany and Lombardy, with values of 20.2 €/m2 metre, 18.1 €/m2 and 17.4 €/m2 respectively. The cheapest for future tenants are Umbria (6.9 €/m2) Basilicata (7.1 €/m2) and Molise (7.3 €/m2).
Provinces
Providing an overall picture of the provincial markets, a clear prevalence of areas in positive territory is observed - around two-thirds of the areas monitored in July -, with even double-digit increases in some of the areas with a greater tourist vocation, especially smaller areas, where demand for holiday homes or short-term rentals can have a significant impact on rental prices. This explains the 21.7% increase in the province of Foggia, or the increases in Bolzano (13.5%) and Massa Carrara (10%). On the opposite side, Vibo Valentia (-15.8%) showed the biggest drop, followed by Livorno (-7.9 %), Ancona (-6.3%), Verona and Vercelli (both -5.3%).
On the price front, Lucca (31.4 €/m2) is by far the most expensive Italian province for renters. They are followed by Belluno (29.1 €/m2), Grosseto (25.5 €/m2), Rimini (25.3 €/m2) and Ravenna (24.7 €/m2). Demands above the Italian average of 13.5 € per month in 17 other Italian provinces, ranging from €20.7 in Milan to €13.7 per month in Urbino. At the lower end of the ranking of provincial values, Caltanissetta is the cheapest with €5.1 per month, ahead of Avellino (5.6 €/m2) and Alessandria (5.7%).
Towns
The trend was more mixed at the level of capital cities, with a slight prevalence of increases: 41, against 39 decreases and 10 centres whose prices remained unchanged compared to June. The main increases in July were in Agrigento (7.2%), Forlì (5.8%), Foggia (5.6%), Massa (5.6%) and Cuneo (5.5%). The steepest declines were in Trapani (-10.8%), followed by Vibo Valentia (-8.6%), Padua (-7.2%) and Barletta (-6.5%).
Among the large declining markets were Bologna with a decrease of 1.5% and Florence with a decrease of 0.7%, as well as Milan, down 0.6% this month. Rome, on the other hand, experienced a modest increase of 0.3%, while Naples and Venice recorded an increase of 1.9% and 2.8% respectively.
Focusing on major Italian cities, Milan remains the most expensive capital city with an average value of 22 €/m2 per month, despite experiencing a slight decrease of 0.6% in July. In second place, we find Venice with 18.7 €/m2 , followed by Florence with 18.2 €/m2 and Bologna with 17.7 €/m2 . Rome ranks seventh with 14.5 €/m2, while Naples ranks tenth with a value below the national average of 12.8 €/m2 .
The idealista property price index
The idealista property price index analyses offer prices based on built square metres (per unit) published by advertisers on the platform. Atypical listings and listings with out-of-market prices are removed from the statistics. We include detached houses (villas) and discard properties of any type that have not had user interaction for a long time. Final data are generated using the median of all valid listings in each market.
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