Prices are falling: September trends. Your data for the city.

According to the latest property price index of Idealist, the leading portal for real estate technology development in Italy, a slight decrease of 0.2% was registered in August compared to the previous month, with an average price of €1,857 per square meter. House prices rose by 2% over the year, reflecting the stable situation in the real estate market as a whole.

Regions

10 regions recorded positive growth compared to July, with the highest increases in Molise (1.5%) and Friuli-Venezia Giulia (1.2%). Smaller increases are observed in other regions, ranging from 0.8% in Puglia to 0.2% in Liguria and Basilicata.

On the other hand, the Aosta Valley (-0.9%), Campania (-0.7%), Emilia-Romagna and Lazio (both -0.6%) show the strongest declines. Small declines are also seen in Abruzzo (-0.3%), Piedmont (-0.2%), Tuscany (-0.2%), Lombardy and Sicily (both -0.1%). House prices in Calabria remained unchanged compared to the previous month.

When it comes to house prices, the most expensive region is Trentino Alto Adige with a price of 2,883 euros per square meter. It is followed by the Aosta Valley (€2,595/m²), Liguria (€2,493/m²) andTuscany (€2,380/m²). Also, property values in Lombardy (2,175 euro/m²) and Lazio (2,167 euro/m²) are higher than the average cost in Italy. The other regions have prices ranging from 1,833 euros per square meter in Emilia-Romagna to 872 euros in Molise, the most affordable region in terms of real estate prices.

Provinces

The majority of the provinces recorded a positive trend: 59 of the 106 areas monitored underwent an increase, while 43 decreased and 4 remained stable compared to July. The provinces of Vercelli and Brindisi (both up 2.6%), Udine (2.2%) and Sondrio (1.7%) have the highest house price growth. On the other hand, the provinces of Bologna (-2.2%), Reggio Calabria (-1.2%) and Verbano-Cusio-Ossola (-1.1%) had the largest price decreases.

When it comes to house prices in the provinces, the most expensive is Bolzano with a property price of 4,395 euros per square meter, followed by Milano (3,412 euros/m²) and Lucca (3,231 euros/m²). On the other hand, the most affordable real estate markets are in Biella (614 euro/m²), Caltanissetta (671 euro/m²) and Isernia (676 euro/m²).

Regional capitals

The trend of the used real estate market in the cities is also characterized by a predominance of price increases. 57 of the 107 regional capitals in the monitored area showed growth, with Macerata (3.5%), Gorizia (3.4%) and Isernia (2.9%) showing the highest growth.

The strongest price decline this month was in Cagliari (-2.3%), followed by Trento (-2.1%), Fermo (-1.9%) and Lucca (-1.7%). Milan (4,979 euro/m²) remains the leader in real estate prices in Italy in August, surpassing Venice (4,415 euro/m²), Bolzano (4,414 euro/m²) and Florence (4,105 euro/m²).

The lowest sale prices are found in Biella (€727/m²), followed by Caltanissetta (€730/m²) and Ragusa (€735/m²).

Methodology notes

Beginning in Q2 2022, we have updated the methodology for calculating house prices by removing auction listings from the historical idealist sample (from January 2012). This approach minimizes the statistical distortions associated with the prices of these listings, which do not reflect the owner's actual demand but are the auction's base price (less than its value), and ensures that our report is as accurate as possible. Since 2021, our portal has seen an increasing number of auction listings, especially in urban areas, so we have decided to remove such listings prior to settlement to minimize sampling bias and provide more stable and accurate price data. In 2019, Idealista introduced a new calculation methodology to make price change analysis more reliable, especially in smaller neighborhoods. To avoid abrupt changes in our sample, data from 2007 were recalculated using the new methodology. On the recommendation of idealist/data's statistics team, which specializes in big data processing and data modeling, we have updated the formula to more accurately determine the average price: in addition to removing atypical ads and ads with inconsistent prices, we now use the median value instead of the average. With this change, we have not only made our index more accurate and reflective of the real state of the market, but also brought its methodology closer to the methodologies used in other countries for real estate data. The sample includes single-family homes (cottages or chalets) and excludes properties of any type that have remained in our database without user interaction for long periods of time. In addition, auctions have also been eliminated starting this month. The report is always based on advertised prices posted by the idealist's advertisers. The full report can be found at the following link: report link