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Rental prices up 1.5% in the first quarter of 2019

Evolution of real estate renting prices in Italy

Evolution of real estate renting prices in Italy

According to the latest Idealist price index, the rental market ends in the first quarter with a rise in rents equal to 1.5%, an average of 9.2 euros / m2. In the last 12 months, rents in Italy are up 2.8%.

For Vincenzo De Tommaso, head of the Idealist design office in Italy: “The positive moment of the rental market continues, even if the national rent card is more and more articulated and complex. In any case, the recovery is confirmed in the main cities, but also in the centers and localities where the strong demand for short-term, sometimes seasonal, rental, especially in the main destinations, can influence the normal price dynamics. For the rest, the market remains asphyxiated and suffers from legislative rigidities that do not protect the owners against arrears and risks, forcing many of them to keep their goods out of the market instead of accepting offers from potential tenants. Hence the need for greater regulatory clarity to promote the flexibility and dynamism of this market, the engine of development of the country.

Rental market by region

The first quarter of 2019 ended in positive territory for most Italian regions (13 out of 20), led by Sardinia (8.4%), Basilicata (6%) and Lombardy ( 5%).

On the contrary, the biggest declines of the period are Piedmont (-3.2%), Molise (-3.4%) and Umbria (-4.5%).

Rental market by city

Among the capitals analyzed, the most important increases concern Cosenza (12%), Chieti (11%) and Agrigento (8.1%). The largest decreases were in Biella (-11.9%), Campobasso (-8.2%) and Como (-7.2%).

Bari (6.2%) leads the uptrend in the large cities markets ahead of Cagliari (4.4%) and Milan (3.4%). The winter months show slight progress in Rome (1%), while Naples (-1.4%) and Turin (-1.6%) are reversing.

Milan (18.8 euros / m²) remains the place with the most expensive square meters for rent, in front of Venice (16.2 euros / m²) and Florence (16 euros / m²), which precedes Rome (13.2 EUR / m²). The lowest rents in Italy are in Caltanissetta (3.9 euros / m²), which precedes Vibo Valentia and Reggio Calabria at 4.4 euros per month.

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