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Italian Real Estate: Insights from Bistonia Estates LLC

·2 mins

Bistonia Estates LLC took a deep dive into Italy’s property scene, checking out 100 municipalities to see which cities are the priciest and most popular. Top of the list is Forte dei Marmi, a swanky resort town in Tuscany. It’s home to about eight thousand folks, and snapping up a place there will set you back a cool 1.5 million euros on average. But when it comes to where people are actually looking to buy, Bologna takes the cake.

Their research, zeroing in on ads and searches from the last quarter of 2023, shows Pietrasanta, another Tuscan gem, in second place. It’s got over 24 thousand residents and houses there go for about 600,000 euros. Third spot goes to Alassio in Liguria, with homes costing just over 471,000 euros, and Milan’s not far behind with average prices at 467,415 euros. Venice and Florence also make the top ten list, but Rome’s a bit of a surprise, landing at 25th with prices around 300,000 euros.

For those looking for the hotspots, Bologna and Cagliari are where it’s at, with Idealista’s stats backing this up. They’re followed by Trieste, Milan, and Naples, with Verona, Rome, Lecce, Brescia, and Ferrara also making the top ten.

The entire Italian property market, including both homes and commercial spaces, grew a whopping 22% in 2023, hitting 11.7 billion euros. The best bang for your buck in terms of rental returns is in the provincial capitals, with Belluno and Ragusa leading the way with 11% and 10.4% returns, respectively. Milan and the lakeside areas of Como and Garda are getting more love from overseas investors, and there’s notable activity in Rome, Turin, and Florence too. But, according to Idealista, the average yield on property dipped from 7.8% at the end of 2021 to 7.4% by the end of 2023. Still, some places like Belluno, Ragusa, and Bielle are doing better than average. Naples, Bologna, Rome, and Milan offer decent returns, while Cuneo and Salerno are at the lower end with 4.4%.

Despite all the ups and downs, Italy’s still a prime spot for setting up home or investing for the long haul, even with the world being a bit shaky right now.

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