Rents continue to increase in March: Florence ever closer to Milan – Immobiliare.it News

High rents don't stop. This is what emerges fromImmobiliare.it Insights Monthly Observatory, the proptech company of the Immobiliare.it group. Data relating to the month of March 2024 show another increase in average prices per square meter residential properties for rent. The national average recorded growth of 1.8% over one month (+11.2% over one year) and reached €13.3/m2. Here are the areas and cities where renting a house is cheapest.

Houses for rent, price developments throughout Italy

The following table presents the average prices per square meter for the different macro-zones that make up the peninsula, in descending order from most expensive to least expensive. The price is accompanied by the monthly and annual delta. The national average is also indicated at the end of the table.

Arehas Average €/m2 Delta 1 month Delta 12 months
North West €14.8 2.1% 17.3%
Center €13.7 2.3% 6.9%
Northeast €12.2 0.6% 3.9%
South €9.50 2.0% 9.1%
he is €8.7 0.9% 10.2%
ITALY €13.3 1.8% 11.2%

The average price per square meter of a residential property for rent is increasing everywhere, but at different rates: last month, the most significant increase was recorded in Center, with +2.3%followed by the North-West with +2.1% and the South with +2.0%.

However, average prices remain higher at North Westwhere the 14.8 €/m2. It is precisely in this macro-area that there has been an increase in 17.3% over the past 12 months.

Even in the Islands, annual growth is in double digits: +10.2%.

Regional capitals

Now let's analyze the average prices and monthly and annual deltas of all regional capitals. The cities in the following table are listed in descending order, from most expensive to least expensive.

Regional capital Average €/m2 Delta 1 month Delta 12 months
Milan €23.3 0.8% 7.8%
Florence €22.6 1.7% 20.6%
Bologna €17.7 -1.4% 1.1%
Rome €16.3 1.8% 11.6%
Venice €15.4 -0.4% 10.2%
Naples €14.3 0.9% 12.7%
Cagliari €12.7 0.3% 8.4%
Thirty €11.7 0.5% 4.3%
Bari €11.6 -0.5% 14.1%
Turin €11.00 0.2% 11.8%
Trieste €10.1 -0.3% 2.0%
Aosta €9.2 1.1% 9.5%
Genoa €9.0 1.4% 11.2%
Ancona €8.9 1.5% 0.2%
Palermo €8.7 1.2% 12.4%
Catanzaro €8.50 13.4% 10.0%
Perugia €8.0 -2.2% 1.4%
The Eagle €7.7 1.2% 6.6%
Campobasso €7.3 0.4% 11.9%
Power €7.1 5.2% 2.6%

It is certainly not surprising that the first place is occupied by Milanwhich is confirmed as the most expensive city in Italy with €23.3/m2 (+0.8% over one month and +7.8% over one year). But the city of Madonnina is “pursued” by Florencewhich with growth of +1.7% in one month and above all +20.6% in a year it will reach me €22.6/m2. As already pointed out by the Rental Observatory Immobiliare.it Insights, the Tuscan capital is the large Italian city in which rents have increased the most over the last six months.

Finally, on the third step of the podium we find Bolognathat with €17.7/m2 (-1.4% compared to the previous month) also exceeds the capital.

At the other end of the ranking we find Power with 7.1 €/m2 (it is the cheapest large city in Italy in terms of rentals), Campobasso with 7.3 €/m2 and L'Aquila with 7.7 €/m2.

As already mentioned above, Florence is the regional capital where the average rental house price increased the most last year. The increase recorded is also significant Bari with +14.1%, Naples with +12.7% and Palermo with +12.4%. No city has a negative delta over the past 12 months. The lowest figure is that of Ancona, with +0.2%.

If you look at the last month, however, some capitals have negative delta, but these are percentages below 3%: Perugia (-2.2%), Bologna (-1.4%), Bari (-0.5%), Venice (-0.4%), Trieste (-0.3%). They increased the most between February and March Catanzaro (13.4%) and Potenza (5.2%).

Decrease in supply and demand

Supply and demand have decreased slightly over the past month. Supply drops by -1.7%, with negative peaks in the Center (-4.8%) and the North-East (-4.3%). If we broaden our view to the last 12 months, however, we observe diametrically opposed situations between:

  • areas where supply has experienced significant growth: +18.0% in the Islands and +14.9% in the North-West;
  • the Center, where supply decreased by -20.5%.
Area Delta 1 month Delta 12 months
North West 0.2% 14.9%
Northeast -4.3% 0.6%
Center -4.8% -20.5%
South 0.9% 7.9%
he is -1.1% 18.0%
ITALY -1.7% 2.4%

Last month demand fell by -0.4% at the national level, with two macro-zones with a negative delta (North-West and South) and three positive ones (North-East, Center and Islands). However, over the past 12 months, demand has increased everywhere, with a peak in central regions (+32.8%).

Area Delta 1 month Delta 12 months
North West -1.9% 4.8%
Northeast 1.7% 3.2%
Center 2.7% 32.8%
South -4.0% 8.3%
he is 0.5% 0.4%
ITALY -0.4% 10.6%

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