More short-term and temporary rentals in Italy in 2024: +28% in one year

In recent years, the evolution of housing models in Italy has shown a growing demand for flexible solutions that can be adapted to people's changing needs. In this context, temporary and short-term rentals represent an effective response for those wishing to avoid multi-year commitments, offering a maximum duration of 18 months. According to the research department of idealista, the leading real estate portal, the offer of this type of product has grown significantly, now representing 20% of the stock announced on idealista.

Short-term temporary rentals in Italy

Compared to 2022, the offer of temporary and short-term rentals in Italy has increased by 28%, while the classic rental segment has recorded a decrease of 1%, consolidating a significant drop observed over the last five years (-42.8% of rental listings from 2019 to date). In 7 provincial capitals and 16 provinces in Italy, temporary rental has even surpassed 'classic' supply.

The geographical distribution of this trend is particularly significant. In places such as Massa Carrara and Venice, respectively 91% and 88% of the offer is for seasonal rental. This is followed by Rimini (69%), Livorno (58%), Cagliari (54%), Florence (52%) and Pesaro (51%). The provinces with the highest share of this type of product range from 83% in Savona to 51% in Oristano, with a particular incidence in the markets of Liguria and Tuscany.

On the contrary, in less affluent areas this temporary mode is scarcely present, with an offer of less than 5%. Examples of this include Nuoro, Gorizia, Sondrio, Lodi, Ascoli Piceno, as well as the provinces of Biella and Benevento, which stop at 4% of supply.

Sharp rise in temporary rentals in Italy's main cities

Among the large markets, the greatest increase in temporary supply was in Bologna, which recorded 172% more than a year ago, followed by Milan (147%), Bari and Florence (both 76%). In Turin, on the other hand, the supply of temporary rentals grew by 19% over the last 12 months, while it increased by 7% in Naples. Rome bucked the trend with a negative variation of 6%.

Exceptional or apparently anomalous increases in supply of this type occurred in small markets where this phenomenon was practically non-existent until now and where the appearance of a small number of rental listings caused very marked increases. This was the case in Pordenone and Aosta, both with a 500% jump, followed by Cosenza (300%), Caltanissetta (250%) and Cagliari (223%) where supply more than tripled. By contrast, in thirty-six provincial capitals, temporary rentals have fallen this year: Nuoro (-100%), Belluno (-75%), Lodi (-67%), Trieste and Terni (both -54%). Supply also halved in Biella and Asti (both -50%).

Classic rentals continue to decline

In parallel with the growth in the supply of temporary rentals, classic long-term rentals still fell slightly over the last year (-1%), for a picture that appears rather mixed, with 47 centres in decline and 59 in increase; only Cosenza shows no change compared to 12 months ago.

In the main markets, the biggest drop was in Rome (-39%), followed by Naples and Genoa, -35% and -33% respectively. In contrast, Milan (45%), Bologna (15%) and Turin (5%) saw their supply increase. Among the other cities, the largest declines were in Belluno (-59%), followed by Trieste (-58%) and Sondrio (-52%), while the largest increases occurred in Ferrara (90%), Brindisi (82%) and Gorizia Cuenca 81%).

According to Vincenzo De Tommaso, head of idealista's research department in Italy: "The increase in temporary rentals is a phenomenon that has been on the rise since the pandemic, with many landlords who had originally intended their properties for tourist rental now moving into the residential sector. This transition reflects a growing demand for flexibility from various segments of the working population, including university students, seasonal workers and those relocating for training purposes. The opportunity provided by temporary or short-term rentals has allowed landlords to obtain a more significant financial return than traditional rentals, as well as the ability to reclaim the use of the property for personal needs. This flexibility is a key element in the decision of many landlords to embrace this rental mode."

Analysis Methodology

Data collected and analysed by idealista/data, idealista's proptech that provides information to a professional audience to facilitate strategic decision-making in Spain, Italy and Portugal. It uses all the parameters of each country's idealista database, as well as other public and private data sources to offer valuation, investment, acquisition and market analysis services.

What is a temporary rental in Italy?

A temporary rental contract, known in Italy as "contratto di locazione transitorio" is regulated by Law 431/1998 and is an agreement used to rent a property for residential use for a limited period of time and for temporary, non-tourist housing needs. This type of lease is particularly advantageous for university students and workers who need to spend a short period outside their city of residence for study or work.

This temporary lease has a minimum duration of 1 month and a maximum duration of 18 months. Respecting the time limits set by the law is essential to avoid incurring the nullity of the agreement, which only needs to be registered if the rental period exceeds 30 days. To draw up this type of lease, the model to be used is the one prepared by the Ministry of Transport and Infrastructure