House prices in Italy in 2022: values remain stable.

Are real estate prices in Italy rising? Will housing prices in Italy drop in 2022? Currently, the prospects for the real estate market in Italy in 2022 indicate that prices for secondary housing are holding steady and will remain at the same level in the short term. While housing prices are rapidly increasing in other European countries, in Italy, prices remain stable with a slight annual increase of 1.3% according to the latest price index from idealista, a leading real estate portal in Italy. If you are considering buying property in Italy, we have all the details about real estate prices in Italy in 2022.

Real estate prices in Italy by region

At the regional level, Italy is divided into 10 areas with positive changes and an equally large number of areas showing a negative trend. The largest increases in real estate prices were observed in Lombardy (0.8%), Sicily (0.7%), Trentino Alto Adige and Sardinia (both 0.7%). Increases in 6 other Italian regions range from 0.3% in Abruzzo to 0.1% in Puglia.

On the other hand, the largest index declines can be observed in Friuli-Venezia Giulia (-2.1%), Aosta Valley (-1.3%), Calabria, and Liguria (both with a negative change of -0.7%). Smaller declines were recorded in 6 other regions, ranging from -0.4% in Piedmont to -0.1% in Umbria.

The region with the highest prices per square meter is Trentino-Alto Adige, where the price is €2,662 per square meter. It is followed by Aosta Valley (€2,570/m²), Liguria (€2,478/m²), andTuscany (€2,344/m²). Prices above the Italian average are also found in Lazio (€2,174/m²) and Lombardy (€2,048/m²). The remaining 14 regions have prices below the average, ranging from €1,756 in Emilia-Romagna to €875 in Molise.

Real estate prices in Italy by province

There is also an opposite trend observed in the 106 monitored provinces; 8 of them remained at the same levels compared to July 2022.

In terms of real estate prices, the most expensive Italian province is confirmed by Bolzano with an average price of 4,347 euros per square meter. It is followed byMilan (3,209 euro/m2) and Savona (3,097 euro/m2). Prices above the Italian average in the other 27 provinces range from 3,020 euros in Lucca to 1,853 euros in Latina. In turn, the cheapest places to buy real estate in Italy at the moment are Biella (617 euro/m2), Caltanissetta (678 euro/m2) and Isernia (714 euro/m2).

Real estate prices in Italy by city

The price trend for secondary housing in Italian cities shows a slight predominance of recovering areas, with 52 out of 107 monitored capitals, led by Mantua (4.2%), Campobasso (3.3%), and L'Aquila (2.4%). As for the major city markets, increases were recorded in Palermo (1.7%), Bologna (0.9%), Florence (0.3%), andRome (0.2%). Milan (-0.1%), Turin (-0.3%), Naples (-0.5%), and Venice (-0.6%) saw declines. The largest monthly drops were recorded in Agrigento (-5.3%), Oristano (-3%), and Barletta (-2.6%).

Milan (€4,822/m²) once again confirmed its position as the most expensive city for purchasing housing in the summer of 2022, followed by Bolzano (€4,479/m²) and Venice (€4,394/m²). Prices were above the national average in 33 other cities, including Florence (€4,006/m²) and Bari (€1,846/m²). On the other hand, the cheapest capital cities for buying real estate in Italy are currently Biella (€699/m²), followed by Caltanissetta (€733/m²) and Ragusa (€750/m²).