Rental prices are rising across Italy: unexpectedly, Milan does not take the top spot.

According to the data from the Cautious Real Estate Rental Agency Immobiliare.it Insights, there has been a significant increase in rental prices in Italy. By the end of February 2024, a growth rate has been recorded at10.1%compared to the same period last year and an increase in3.1%% over six months. Additionally, there is active growth in both demand and supply: the number of available rental properties has increased by10.5%%, while the increase in demand was3.6%%

Rental prices for housing in Italy continue to rise, as evidenced by the figures from the Cautious Agency. Currently, the average rental cost exceeds13 eurosper square meter. Over the past two years, rent has increased by6.1%%

The highest price increase

Interestingly, the highest increase was recorded not inMilan, as one might expect, but in Florence, where the cost is22.2 eurosper square meter, and the price increase has reached21.7%% compared to February 2023. InMilan, however, the price is observed at23.1 eurosfor a square meter with an increase of only8.1%% for the same period, which is significantly lower than that of the capital ofTuscany.

Southern Italy

In Southern Italy, Bari has become the leader in rising rental prices. The average rental cost here is11.7 eurosper square meter, with an increase of18%%. The city surpassed Naples, where the price increase was recorded at the level of13%%, which allowed for an increase in the average rental price of apartments to14.2 eurosper square meter.

General information about major cities

General data on other major cities in Italy (Bari, Bologna, Florence, Genoa, Milan, Naples, Palermo, Rome, Turin, and Venice) shows an increase in rental prices.14.3%%, which resulted in an average rate of17.7 eurosper square meter.

The situation in small towns

It is noteworthy that for small towns and settlements (Ancona, Aosta, Cagliari, Campobasso, Catanzaro, L'Aquila, Perugia, Potenza, Trento, Trieste) the situation is completely different.

Changes in supply and demand

The data from the Cautious Agency also indicates that in analyzed12 monthsThere is not only an increase in rental prices but also a rise in both demand and supply. The number of available rental properties has increased by10.5%% when demand increases for3.6%%. At the same time, over the past six months, the demand for rentals has increased by9.5%%, and the offer increased by just under4%%

Large cities

When focusing on large cities, the demand growth amounted to5.7%%, which is also comparable to a similar increase in supply (+20%For small towns, there is a decline in housing availability at the level of-22.7%% with an increase in demand for0.7%% (which is a minor growth option).

Cities with an increase in supply

Among the cities experiencing the most significant increase in supply, Milan stands out with a growth of approximately83%in annual terms, and Bologna with slightly lower figures77%%. However, in both of these cities, demand has decreased by23.7%% in the first case and on14.5%% in the second. There is a significant interest in renting inRome (plus53.5%%) and in Naples (plus52%%).

Support for elderly people

It is also worth noting that in Lombardy, the rental housing bonus for the elderly will continue to be in effect in 2024. This support mechanism is aimed at helping to provide housing for the most vulnerable groups of the population.