The regional capitals where it is most expensive to both buy and rent a house are Milan, Florence and Rome. The cheapest are all found in the South. The most renowned tourist locations, both at the seaside and in the mountains, also contribute to raising the average regional prices.
Compared to 10 years ago, buying or renting a house in Italy costs significantly more, especially when it comes to rentals. As emerges from a study of Immobiliare.itwhich analyzed the evolution of prices of studio, two-room and three-room apartments in Italy and in 20 main cities, between 2016 and 2026prices have increased. For example, the selling prices of two-room apartments increased by 21% at a national level, while the rents for three-room apartments have increased by 50%.
The increases have not been uniform across the territory, and there are cities bucking the trend: at the top of the price increase rankings for two-room and three-room apartments for sale there is Trieste, while Brescia records the greatest increase in rents for three-room apartments (+63%). Milan continues to stand out for its particularly high values, while in cities such as Catania and Genoa the sales prices of certain types of real estate are even decreased.
The most recent data fromReal Estate Observatory of the residential market indicate that on average the average price asked for the purchase of a house in Italy is 2,229 euros per square meter, up 4.99% compared to the same period of the previous year. The most expensive regions to buy a house are Trentino-Alto Adige, Liguria and Lombardy, while the cheapest are all found in the South. Also the rental market presents very marked differences around the price national average of €15.1/m2with a increase of 5.52% in the last twelve months: Valle d’Aosta is the region where rents are most expensiveMolise is the one with the lowest average prices.
How much house prices increased in Italy from 2016 to 2026
According to the analysis of Immobiliare.it Insightsin the last ten years the Italian real estate market has recorded increases in prices for all three types of housing considered.
In the sector of tradesthe largest increase concerns i two-room apartmentswith +21% compared to 2016, followed by studios (+15%) and three-room apartments (+13%). Growth was even more marked in rental marketwhere rents increased by 46% for studio apartments, 49% for two-room apartments and 50% for three-room apartments. In the case of three-room apartments, the percentage increase in rent was almost four times that of the sales prices.
It is important to clarify what these increases are nominalthat is, they do not take into account the inflation recorded during the decade, which the data reflects the market values of properties offered for sale or lease, which do not necessarily coincide with the final prices of the transactions.
The regions in which apartments cost the most, the ranking: Trentino, Liguria, Lombardy
According to data from the Real Estate Observatory of the residential market, the regions with the highest average prices in October 2026 are:
- Trentino-Alto Adige (€3,778/m2)
- Liguria (€2,840/m²)
- Lombardy (€2,819/m²).
In particular, in Trentino-Alto Adige the average prices are higher in the province of Bolzano (4,848€/m2) and the most expensive houses in the province are located in some of the most renowned tourist locations in the Alps, in the heart of the Dolomites, such as Val Gardena and Val Badia. In the most exclusive municipalities the price of houses reaches more than three times the regional average.
In particular, the 5 municipalities of province of Bolzano with higher average house prices are in fact:
- Selva di Val Gardena (13,375€/m2)
- Santa Cristina in Val Gardena (10,529€/m2)
- Ortisei (9,239€/m2)
- Corvara in Badia (9,233€/m2)
- Abbey (8,433€/m2).
If the mountains dominate the general ranking, some of the most prestigious seaside resorts still reach very high prices. Also the Liguria (the second most expensive region), in some seaside locations the cost of housing is much higher than the regional average. The most expensive province is Savona (3,664€/m2) and here the prices reach over 5,000 euros per square meter in the municipalities of:
- Alassio (5,951€/m2)
- Bergeggi (5420€/m2)
- Laigueglia (5338€/m2)
- Final Ligurian (5059€/m2)
- Borgio Verezzi (5036€/m2).
In third place among the regions where it costs the most to buy a house we find Lombardy (2819€/m2) and in particular the province of Milan (4180€/m2). Above all, it is driving with a significant gap compared to all the other municipalities the city of Milan with €5667/m2: more than double the national average.
The municipality of Milan it is also attested as the regional capital with the highest average pricesfollowed by Florence (4,787 €/m2) e Rome (3,894 €/m2).
In the table below, however, the 10 cities with the greatest increases in prices of two-room apartments for sale according to data from Immobiliare.it.
Not all cities have seen housing prices rise: Catania it is the only one among those analyzed to register one decrease for all three typeswith decreases of 6% for studio apartments, 3% for two-room apartments and 14% for three-room apartments. In Genoa, however, the prices of two-room apartments (-6%) and three-room apartments (-11%), while in Palermo a slight drop was noted for three-room apartments (-1%).
The areas with the highest rents
Regarding real estate rentals, the regions with the most expensive rents according to the Observatory are:
- Aosta Valley(€24.16/m2)
- Lombardy (€19.05/m²)
- Tuscany (€17.34/m²)
Again some of the municipalities with the highest prices are found in mountain tourist resorts. In particular, the three Aosta Valley municipalities that exceed €30/m2 are all concentrated in the Gressoney Valley: Gressoney-La-Trinitè (35.85€/m2), Gressoney-Saint-Jean (35.81€/m2) and Gaby (35.75€/m2)
Even in Lombardy, the cost of rent is once again driven by the province Milan (€21.48/m2), while in Tuscany from the province of Florence (€20.14/m2).
Furthermore, among the regional capitals, Milan also maintains the lead for rentswith €22.52/m² per month. They follow again Florence (€21.64/m²) e Rome (€19.75/m²).
In all 20 cities examined in the Immobiliare Insights study and for all housing types rents have increased by at least 19% in the last ten years. For i studio apartments the greatest increase was recorded in Padua, where rents grew by 59%, followed by Brescia (+58%) and Venice (+56%). In the case of two-room apartments Bari leads the ranking, with an increase of 56%, followed by Padua (+55%). Bergamo, Brescia, Turin and Trieste instead share an increase of 52%. For i three-room apartments the record goes to Brescia, where rents grew by 63%, reaching 10.8 euro/m² per month. In second place we find Bari (+59%), followed by Bergamo and Padua (both +53%).
Where houses cost less: the Southern regions
There are regions where it costs less on average to buy a house all in the South:
- Calabria (978€/m2), especially in the province of Reggio Calabria (840€/m2), in particular in the municipality of Anoia (247€/m2)
- Molise (1051€/m2), with the lowest prices in the province of Isernia (683€/m2) and specifically in the municipality of Castelverrino (213€/m2)
- Sicily (1192€/m2), especially in the province of Caltanissetta (639€/m2), in particular in the municipality of Delia (313€/m2)
If instead we focus on the regional capitalsthe ranking changes slightly. The cheapest is Catanzaro with €1,024/m2 (over five times less than the cost of a house in Milan), followed by Campobasso with 1,070 €/m2 and Power with €1,291/m2.
The houses with the lower average rents they are instead found in these regions:
- Molise (€6.84/m2)with the lowest prices in the province of Isernia (6.68€/m2), in particular in the municipality of Macchiagodena (5.75€/m2)
- Basilicata (€7.63/m2)especially in the province of Potenza (€6.78/m2) where the lowest rents are found in the municipality of Avigliano (€4.56/m2)
- Abruzzo (€8.35/m2)in particular in the province of Chieti (7.09€/m2) where the average is driven downwards by the municipality of Arielli (4.81€/m2).
The podium was also slightly different cheaper regional capitals: Campobasso (€6.75/m2), Power (€7.01/m2) e The Eagle (€8.01/m2).
All these numbers highlight how the geography of the Italian real estate market is strongly linked to tourist demandthe availability of building land and the presence of large cities. On the one hand, there are in fact some locations where the demand for second homes and high-end properties is concentrated on a relatively limited supply. On the other hand, there are numerous small municipalities in the hinterland, where demand is much more limited and prices can drop to a few hundred euros per square meter.
