"The most expensive and in-demand places in Italy to rent a house in the third quarter of2023."

In the third quarter of 2023, rental prices in Italy increased by 13.1% compared to the same period in 2022. Of course, the average price can vary depending on the region (and some tenants also have to regularly adjust to the annual increase related to the FOI inflation index). Idealista/data analyzed the current market situation to identify the most expensive and sought-after places in Italy for renting housing in the third quarter of 2023. Let's take a look at the picture presented in the report.

The study focused on listings posted on the popular real estate portal idealista, which is a leader in technological development in Italy. The report examined data available for cities where the average selling price exceeds 875 euros/sq.m, and where the number of listings for sale exceeds 975 units on idealista (and more than 50 rental listings). This analysis resulted in a ranking of 100 cities that generated the most leads (measured by the relative demand index), as well as cities with the highest average rental prices. Let's take a look at the rental market situation in Italy.

The most expensive places to rent a home

The most expensive city in Italy for finding rental housing in the third quarter of 2023 remains Forte dei Marmi, which is also the most expensive for purchasing property (as in the previous quarter).

In second place, as in the previous quarter, is another city in the province of Lucca - Pietrasanta (with an average of 3,402 euros per month, which is lower than in the previous assessment), while Riccione takes third place (2,795 euros per month).

The top three positions in this special ranking, as can be seen, are occupied by places with strong tourist influence and appeal, which inevitably affects the rental market.

Right behind the podium, after Cervia (€2,146 per month), are Ostuni (€2,031 per month), Fiumicino (in the vicinity ofRome), and Massa. The top 10 also includes Camaiore, Florence, andMilan, with an average asking price of €1,532 per month for rental listings on idealista. Rome ranks 22nd (€1,262 per month). The most expensive city in Southern Italy is the aforementioned Ostuni, where the average rent for housing is €2,031 per month.

The most sought-after places for renting housing

In addition, idealista/data has developed an indicator that consolidates the demand for supply in each region of Italy in the rental housing segment. The indicator is based on the number of leads (email contacts and shares) received for each listing.

According to the relative demand index developed by idealista/data, the highest demand for rental housing in the second quarter of 2023 is concentrated in the city of Forlì, which receives 41.9 contacts per listing. The podium of the most sought-after cities is completed by Reggio Emilia (37.6) and Padua (37.1).

The top 10 most sought-after cities for rental housing also includes Vigevano (35.3), Brescia (33.4), Verona (33.4), Cesena (33.0), Rome (32.8), Prato (32.3), and Bologna (30.7).