Italians, but also foreigners, tend to buy apartments in cities, preferring them to vacation second homes.
Italians, but also foreigners, tend to buy fewer apartments in tourist areas for themselves or as an investment, preferring to buy apartments in cities. With yields that sometimes even reach 7% per year, property investments attract more and more Italians. As a Tecnocasa studio points out, our compatriots prefer to buy a two-room apartment for themselves in town instead of a second home by the sea or in the mountains. Here are the places and neighborhoods to focus on once the necessary reflections have been made, for example related to operating costs and increased supply.
North
In Milan, almost one in three purchases is intended for investment, so much so that the two-room apartments in the center have reached very high amounts, even exceeding € 250,000; however, these figures are offset by returns of up to 6.8%. The most popular areas for short-term rentals are Navigli, Porta Genova and Porta Romana, while for longer term rentals, you move beyond the line 90 device.
In Bologna, demand is increasing in central areas, where prices have increased by 2%, even reaching 5,000 euros per square meter. In particular, those who wish to start a B&B business choose apartments of one or two rooms while entrepreneurs or parents of students prefer the larger sizes to divide or sublet. In addition to the quadrilateral, the Murri-Giardini Margherita and via Andrea Costa areas are sought after.
Even in Turin, the tendency is to focus on short rents by buying small apartments, but there are many people who decide to leave the hill areas to move to the center, where they buy historic buildings in renovate. The Crimea-Gran Madre and Cit Turin districts are also very popular.
In the heart of Rome
In the heart of Rome, properties are bought to be used as holiday homes (one- and two-room apartments) or B & Bs (from three-room apartments), although demand per square meter is also reaching 9 thousand euros. Investors point in particular the area between Porta Cavalleggeri and the Vatican walls, where prices are around 4,500 euros per square meter, Testaccio and Piramide.
South
In Palermo, the historic center, which has been partially refurbished and pedestrianized, is in great demand, although it is possible to spend up to 4,000 euros per square meter for prestigious houses compared to 1,300 in peripheral areas. However, the yield also reaches 5% per year.
In Naples, where small apartments are particularly difficult to find, investments in holiday homes are concentrated around Piazza del Gesù, the cloister of Santa Chiara and in the Via Toledo district. Prices range from € 1,500 / m2 in the suburbs to € 7,000 / m2 in central districts, provided they are well connected: at Caravage-Manzoni, for example, prices are around € 3,000 per square meter precisely because it’s from a less-served area.