Stable used car prices in Italy in July (0.1 % ). Find out in your city.

In data released by the research department of idealista, Italy's leading technology-enabled real estate portal, secondary home prices in Italy remained virtually unchanged in July after a slight increase of 0.1%. The average cost is 1861 euros per square meter. An analysis of the change in home values over the past year shows an overall increase of 1.8%, indicating significant stability in the secondary real estate market.

Regions

Prices are rising in 75% of Italian regions, with the largest increases in Trentino Alto Adige (1%), Lombardy (0.9%) and Veneto (0.6%). In the other regions, the changes are more moderate, ranging from 0.5% in Friuli-Venezia Giulia to 0.1% in Vdol d'Aosta. Price decreases are seen in Tuscany (-0.5%), Lazio and Piedmont (both down 0.4%), Molise and Liguria (both down 0.3%). The highest prices per square meter are observed in the region of Trentino-Alto Adige - 2864 euros. It is followed by Vdol d'Aosta (2,618 euro/m²), Liguria (2,489 euro/m²) and Tuscany (2,348 euro/m²). Prices are also above average in Lazio (2179 euro/m²) and Lombardy (2178 euro/m²). Below the average are the other 14 regions, where prices per square meter fall from 1,756 euros in Emilia-Romagna to 875 euros in Molise.

Provinces

Positive dynamics are also observed in 106 monitored provinces, of which 54 went up in price, 8 remained stable compared to June and 44 decreased. The largest increase over the period was 5.5% in the province of Belluno, 2.6% in Vercelli, Frosinone and Trieste (both with an increase of 2%). Another 50 provinces show moderate growth ranging from 1.5% in Ravenna to 0.1% in Vdol d'Aosta. Provinces that are unchanged from last month include Cosenza, Varese, Reggio Emilia, Pordenone, Bolzano, Novara, Sondrio and Cagliari. The most significant price falls are observed in the provinces of Grosseto, Potenza (both down 1.3%), Pavia and Oristano (both down 1.2%).

Among the major urban markets, Bologna (-1.4%) fell strongly compared to June. A slight fall is also noticeable in Milan and Rome (both at -0.1%), Turin has kept prices stable, while Palermo (1.6%) and Naples (1.7%) register an increase.

Milan remains the most expensive city in July with a price of 4983 euros per square meter, followed by Bolzano (4409 euros/m²) and Venice (4382 euros/m²). Prices above the national average are also noticeable in the other 33 cities, including Florence (4052 euro/m²) and Savona (1876 euro/m²). On the other hand, the most affordable cities for potential owners are Biella (725 euro/m²), Caltanissetta (727 euro/m²) and Ragusa (740 euro/m²).

Note on methodology

Beginning with the report for the second quarter of 2022, we have updated the methodology for calculating property values by removing auction announcements (from January 2012 to the present) from idealista's historical sample. This approach minimizes the statistical distortions caused by the prices in these listings, which do not reflect the owner's actual demand, but are the base starting prices at auction (below their real value), and ensures that our report is as accurate as possible. Starting in 2021, we noticed an increasing proportion of auction ads on the portal, especially in urban areas, and decided to remove such ads before calculation to minimize sampling bias and provide more stable and accurate price data. In 2019, idealista has implemented a new calculation methodology to make the analysis of price changes, especially in smaller neighborhoods, even more reliable than before.

To avoid spikes in our statistics, data from 2007 has been recalculated using a new methodology. On the recommendation of idealista/data, a statistical team specializing in big data management and data modeling, we have updated the formula to more accurately determine the average price: in addition to excluding anomalous ads with inappropriate prices, we calculate the median value instead of the average. With this change, we further improve our index to more accurately reflect the reality of the market and align our method with real estate data methodologies used in other countries. Among the property types included in the analysis are single-family homes (cottages or chalets), while excluded are any property types that have remained in our database without user interaction over time. In addition, auctions have also been removed as of this month. The report is based on bid prices published by advertisers on the portal. The full report can be found at the following link: https://www.idealista.it/sala-stampa/report-prezzo-immobile/