As in all countries, real estate prices in Italy are driven by location. Yes, it's all about location! Good locations attract buyers and buyers create demand. On the other hand, some of the less desired locations create lower prices and can create great opportunities for some buyers! Let's have a look at the housing prices in Italy.
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| Sicily, Giardini Naxos |
Most of the factors that you consider when looking for a home in Italy are the same factors that drive the price of real estate in Italy. Some of these considerations are infrastructure, climate, available services, population density, seismic activity, tourism sites nearby, rental possibilities and views. All of these contributing factors influence the home values in a particular area.
The current average market price level for each region can help you determine not only your budget, but which region might be best for you. Italy is a huge country, with 20 different and diverse regions and 109 provinces. Below you will find a chart outlining the average cost per square meter of floor space for a home in each individual region.
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| Data source: immobiliare.it |
You will find the highest real estate prices in the mountainous regions of Trentino-South Tyrol, Aosta Valley and Liguria. There are several factors in this area that contribute to the high cost of housing, like the type of construction and the characteristics of the territory. Obviously, these factors drive up the cost of construction and therefore, the cost of housing. It is also remarkable that these areas are all in zone 3 and 4 in regards to seismic activity, which is considered to be a "safe area".
The average price in the region of Lazio is high because that is where you find the beautiful capital city of Rome! Most of the homes in the city are priced over 4.000,00 euro per square meter, which is reflective on the average price of the entire region. Needless to say, far away from the city the prices will be well below the average.
Tuscany has many cultural and tourist attractions, as well as great food and wine. Needless to say, this attracts lots of interested home buyers to this region, which keeps the price level high. Sardinia is renowned for its tourism and its beautiful beaches. Here the average prices are driven by countless second homes by the sea. Obviously, prices in the countryside, away from the sea, are considerably below the average.
Lombardy, Emilia-Romagna and Veneto are all regions with a booming economy and lots of residents. Here you will find primarily residential homes which are affordably priced.
The more affordable homes can be found in Friuli-Venezia Giulia,
Basilicata, Piedmont, Abruzzo, Apulia, Sicily, Umbria, Molise and Calabria. More than 50% of the municipalities of these regions are classified in zone 1 or 2 for seismic hazard, except for Piedmont and Apulia. In the less expensive regions, most of the territory is zone 1 or 2 (100% of Calabria and 93% of Molise). In addition to the seismic risks, the southern regions of the list above are struggling with the constant migration of their population because of limited economic opportunities. Surely you have all seen the initiatives "houses for sale for one euro". These are the areas where you will find them.
The regions with low seismic risk and reasonable prices are Apulia and Piedmont. Of these two, Apulia has an extra attraction for home buyers thanks to its Mediterranean climate.
Italy House Hunting has access to databases with average prices for each province and each municipality. Contact us for more detailed information.
Here you can read more about ⇨ seismic hazard in Italy ⇦.
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| Homes in Rome |
Tuscany has many cultural and tourist attractions, as well as great food and wine. Needless to say, this attracts lots of interested home buyers to this region, which keeps the price level high. Sardinia is renowned for its tourism and its beautiful beaches. Here the average prices are driven by countless second homes by the sea. Obviously, prices in the countryside, away from the sea, are considerably below the average.
Lombardy, Emilia-Romagna and Veneto are all regions with a booming economy and lots of residents. Here you will find primarily residential homes which are affordably priced.
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| Average price (in euro per sqm) evolution 2014-2023 |
The regions with low seismic risk and reasonable prices are Apulia and Piedmont. Of these two, Apulia has an extra attraction for home buyers thanks to its Mediterranean climate.
Italy House Hunting has access to databases with average prices for each province and each municipality. Contact us for more detailed information.
Here you can read more about ⇨ seismic hazard in Italy ⇦.
