Rents are still expensive in Italy with the rents reach a new record, touching 14.1 euros per square meter, the highest level recorded since 2012.
This is what emerges from the latest report published by idealista, a real estate portal specialized in technological development in Italy, according to which in the second quarter of 2024, the increase was 6.9%, while on an annual basis the increase was 11.4%.
Venice, Arezzo and Prato among the most expensive provincial capitals
In the spring of this year, most of the provincial capitals saw an increase in rents. Thus, according to idealista, the cities with the greatest increases were Venice (12.3%), Arezzo (9.9%), Prato (9.8%), Agrigento (8.6%), Catania (8.1%) and Messina (8%). Increases in 49 other cities, with variations ranging from 6.8% in Caserta to 0.3% in Trieste.
Among the main markets, Turin (4.6%), Naples (3.8%) and Rome (2%) recorded the largest increases. On the contrary, Bologna (-0.5%), Milan (-1.1%) and Florence (-3.9%) suffered declines. The most significant reductions were recorded in Asti (-7.7%), Caltanissetta (-6.5%), Pesaro (-6%) and Como (-5.9%). The other declines ranged from -5.3% in Lecco to -0.3% in Cesena.
Milan remains the most expensive city with 23.1 euros per square meter on average per month, followed by Venice (20 euros/m²), Florence (19.9 euros/m²) and Bologna (17.1 euros/m²). The cities with the lowest rents are Caltanissetta (4.6 euros/m²), Reggio Calabria (5.4 euros/m²) and Cosenza (5.7 euros/m²).
Latina, Arezzo and Fermo among the most expensive provinces
Almost all of them Italian provincial areas – over 90% – recorded increases in the second quarter. The largest increases were recorded in Latina (36.6%), Arezzo (32.2%), Massa-Carrara (31.9%), Fermo (24.4%), Ascoli Piceno (23.2%), Teramo (22.7%) and Sassari (22.2%).
Double-digit increases also occurred in 18 other provinces, with variations between 21.4% in Catanzaro and 10% in Vercelli. Another 69 provinces showed increases between 9.9% in Brindisi and 0.1% in Bologna. The province of Rome saw a growth of 7.9%, while Milan recorded a slight contraction of 0.4%. Only 10 provinces experienced a reduction in rents, with Rimini (-17.3%) recording the most significant decrease.
Lucca (31 euro/m 2 ), Belluno (29.3 euro/m 2 ), Grosseto (23.8 euro/m 2 ), Ravenna (23.2 euro/m 2 ) and Milan (22 euro/m 2 ) are the provinces with the “heaviest” rents for tenants. On the other hand, the cheapest provincial areas are Enna, Caltanissetta (both at 5 euro/m 2 ) and Avellino (5.6 euro/m²).
Finally, according to idealista, in the second quarter rents increased in all regions except Trentino-Alto Adige, where there was a 0.9% decrease. The most significant increases occurred in Calabria (19.8%), Molise (14.4%), Marche (12.8%), Abruzzo (11.2%), Lazio (10.9%) and Liguria (10.8%). Increases were below 10% in the other Italian regions, ranging from 9.5% in Valle d’Aosta to 0.2 in Emilia-Romagna.
The Valle d’Aosta confirms itself as the region with the highest prices (21.8 euros/m²), followed by Lombardy (19 euros/m²) and Tuscany (18.3 euros/m²). Above the national average (14.1 euros/m²) are also Lazio (14.6 euros/m²) and Emilia-Romagna (14.3 euros/m²). The cheapest regions are, instead, Molise and Umbria (7.3 euros/m²).
