Decrease in housing values in Rome (-0.2%) in the third quarter

The decline in real estate prices in the capital continues, down 0.2% in the summer quarter to an average of €2,998 per square meter. This is reported by the research department of idealista, Italy's leading real estate portal, which also notes a slight decline in housing values on a year-on-year basis: -0.4%.

Price trends

Price performance varies in 27 districts of the capital, with 13 districts in the positive zone. The leaders are Casalotti-Selva Nera-Valle Santa (4.5%), Roma Centro (3.1%) and Aurelio (2.1%). The other increases are less than 2% and range from 1.7% in Prati to 0.2% in Roma Est-Autostrade. The Casal Palocco-Infernetto and Garbatella-Ostiense districts are stable in the current quarter, while the deterioration in the other 12 districts particularly affects Monte Sacro (-3.6%), Nomentano-Tiburtino (-2%), Trionfale-Monte Mario and Malagrotta-Casal Lumbroso-Ponte Galeria di Giustiniana-La Storta-Olgiata (-1.1% both districts).

Prices per m2

The highest property prices in the capital are seen in the center (€ 6,544 per m2), followed by the districts of Parioli (€ 5,797 per m2) and Prati (€ 5,318 per m2). There are also 9 other districts with prices above the average cost of housing in the city of € 2,998, ranging from € 4,379 in Nomentano-Tiburtino to € 3,129 in Gianicolense-La Pisana.

On the other hand, the most affordable areas to buy a home in the shadow of the Colosseum are Roma Est-Autostrade (1,917 €/m2), the only area with a price below € 2,000 per m2, Labaro-Prima Porta (2,099 €/m2) and Giustiniana-La Storta (2,248 €/m2).

The situation in the province

The province ofRome also saw a decline in real estate prices (-1.3%) in the last quarter, averaging € 2,446 per m2. Of the 61 municipalities monitored by idealista, 30 are recovering, 30 are declining, while Fiumicino has maintained stable prices compared to three months ago.

The highest growth in the quarter was recorded in the municipalities of Labico (6.5%), Mentana (5.4%) and Ardea (4.5%).

On the other hand, the most notable decreases 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 vicinity of Rome is Frascati (2,660 € per m2) and the cheapest is Arcinazzo Romano (818 € per m2).

According to Vincenzo De Tommaso, head of research at idealista, "real estate price growth is slowing down following the gradual increase in mortgage rates, which has made buyers more cautious as they have gradually lost purchasing power in recent months. The secondary real estate market has been almost completely affected, while those who need an instant home have revised their plans, downsized or moved to more peripheral areas, but still made a purchase. However, for investors (including foreigners), this could be a favorable time in the market to get big discounts when buying and selling properties, which could be good news for those who want to buy a house without a mortgage. In the next 3-6 months, prices are expected to stabilize or slow down in the center or in areas with high demand for housing, while declines are expected in the rest of the regions where demand was already weak. In any case, there will be a significant realignment of housing supply and demand after the rapid changes in the market in the post-pandemic period."

A full report on the Province of Rome can be found at this link:https://www.idealista.it/sala-stampa/report-prezzo-immobile/vendita/lazio/roma-provincia/.