House price decline in Rome: negative market performance (-0.2%) in Q3.

Real estate prices inRome continue to slowly decline and in the third quarter fell by 0.2%, reaching an average level of 2998 euro/sqm. This conclusion was made by the research department of the Italian leading real estate portal idealista, which also notes a slight decrease in housing costs compared to last year: -0.4%.

Price trends

The results are influenced by the condition of 27 districts of the capital. Of these, 13 show a positive trend, the leaders being Casalotti-Selva Nera-Valle Santa (4.5%), Roma Centro (3.1%) and Aurelio (2.1%). The remaining increases are less than 2% and range from 1.7% in the Prati neighborhood to 0.2% in Roma Est- Autostrade. This quarter, house prices remain stable in the Casal Palocco-Infernetto and Garbatella-Ostiense districts, while the remaining 12 districts show price decreases, especially Monte Sacro (-3.6%), Nomentano-Tiburtino (-2%), Trionfale-Monte Mario and Malagrotta-Casal Lumbroso-Ponte Galeria di Giustiniana-La Storta-Olgiata (-1.1%).

Prices per square meter

The center of the capital has the highest property prices at 6544 euros/sqm, followed by Parioli (5797 euros/sqm) and Prati (5318 euros/sqm). A total of 9 other districts in the capital have prices above the city average of 2998 euros, the price range varies from 4379 euros in the Nomentano-Tiburtino area to 3129 euros in Gianicolense-La Pisana. The cheapest areas to buy a home in the shadow of the Colosseum are Roma Est Autostrade (1,917 euros/sqm), the only area where prices are less than 2,000 euros/sqm, Labaro-Prima Porta (2,099 euros/sqm) and Giustiniana-La Storta (2,248 euros/sqm).

Condition in the province

The province ofRome also saw a decline in house prices (-1.3%) in the last quarter, down to an average of €2,446/sqm.

The largest increases in the quarter were recorded in the cities of Labico (6.5%), Mentana (5.4%) and Ardea (4.5%). Strong price falls occurred in the municipalities of Segni (-17.7%), Lanuvio (-10.4%) and Gallicano nel Lazio (-9.9%). In terms of prices, the most expensive municipality in the Roman coast is Frascati (2,660 euros/sqm) and the cheapest Arcinazzo Romano (818 euros/sqm).

Trend in house prices inRome

Neighborhood

Price (euro/sq.m.)

Quarterly change

Center

6544

3.1%

Parioli

5797

0.9%

Send

5318

1.7%

Nomentano-Tiburtino

4379

-2.0%

Appio Latino

4002

0.8%

Aurelio

3873

2.1%

Eur-Torrino-Giuliano Dalmata

3730

1.6%

Ardeatino-Appio Pignatelli-Cecchignola

3453

1.1%

Garbatella-Ostiense

3421

0.0%

Portuense-Magliana

2983

-0.4%

According to Vincenzo De Tommaso, head of research at idealista, "The growth of real estate prices is slowing down after a continuous rise in interest rates, which has made buyers more cautious as they have gradually lost purchasing power over the past few months. The replacement market has taken the biggest hits, while those who needed housing immediately have revised their plans, opting for smaller spaces or moving to more peripheral areas, but still making purchases. Meanwhile, investors (including foreigners) have been able to take advantage of the market moment to secure larger discounts when buying and selling, which could be good news for those looking to buy a home without a mortgage. In the next 3-6 months, we expect stabilization or slow price growth in the center or in areas with high housing demand, while in the rest of the country, where demand has already been weak, declines are anticipated. In any case, there is a significant balancing of supply and demand for housing after rapid changes in the market in the post-pandemic period."

A complete report on the province ofRome can be found at:https://www.idealista.it/sala-stampa/report-prezzo-immobile/vendita/lazio/roma-provincia/.