Home prices up 2.2% in 2024; Como and Milan fly

The prices of used homes in Italy recorded an increase of 2.2% during 2024; compared to the last quarter, prices increased by 1.5% in the last part of the year. 
According to Vincenzo De Tommaso, Head of Idealista's Research Department, "the increase in prices is due to the scarcity of available properties, which offset the negative effect of high credit costs. For 2025 we expect a gradual and constant increase in prices, accompanied by a recovery in sales, favored by the first cuts in mortgage rates started in the second half of the year and by the return of demand, particularly in large cities."

Study of the capitals
The panorama of real estate prices in the main Italian cities presents a widespread positive trend during 2024, with 87 capitals recording annual increases, while 21 cities out of 104 monitored by idealista show decreases.
The greatest annual increases are due to Vicenza (15.6%), Como (13.2%) and Trieste (10.1%), followed by Brescia and Rovigo which grew by 10%. Further increases range across a wide range ranging from 9.5% in Ancona and Gorizia to 0.3% in Mantua, Catanzaro and Trapani. In the markets with the greatest declines we find Oristano (-8.2%) and Cuneo (-6.6%). Analyzing the main Italian cities, increases are noted in Turin (3.1%), Rome (2.5%), Naples (2.3%) and Milan (1.6%)

In terms of prices per square meter, considering everything that "embraces" the capital, Milan confirms itself as the queen of brick in 2024 with 5,067 euros, followed by Bolzano (4,681 euros/m²) and Venice (4,572 euros/m2). Florence (4,216 euros/m2) and Bologna (3,585 euros/m2) complete the top five positions. Rome is seventh with 3,019 euros/m2, while Naples is placed eleventh in the ranking with 2,813 euros per square meter... this again according to what is reported by the Idealista portal. On the contrary, the most accessible cities for purchasing a home are Caltanissetta (709 euros/m²), Ragusa (743 euros/m²) and Biella (783 euros/m²).

Study of the Provinces
At the provincial level, 85% of the monitored areas recorded an increase in prices. Belluno (14.7%), Vicenza (11.9%) and Trento (10.5%) lead the price increases ranking. The increase in the province of Milan was also significant (3.7%), while Rome recorded a slight increase of 0.8%. The reductions this year are limited to 16 areas led by the province of Oristano, with a drop of 8.2%, ahead of Potenza (-4.4%), Terni (-3.7%), Reggio Calabria (- 3.2%), Frosinone (-3.1%) and Caltanissetta (3%). Florence is the only province to keep prices unchanged compared to twelve months ago.
The most expensive provinces are confirmed as Bolzano (4,568 euros/m²), Milan (3,519 euros/m²), Lucca (3,165 euros/m²) and Savona (3,114 euros/m²). The cheapest are, however, Biella (633 euros/m²), Caltanissetta (654 euros/m²) and Isernia (693 euros/m²).

Study of the Regions
Price dynamics at the regional level show a positive trend, with 18 of the 20 regions recording an increase compared to the previous year. The most significant increases are observed in Trentino-Alto Adige (8.6%) and Veneto (8.5%). Increases above five percent per year also for Valle d'Aosta (6.9%) and Emilia-Romagna (5.4%). The remaining regions show increases ranging from 4.7% in Lombardy to 0.5% in Umbria. Basilicata (-1.3%) and Lazio (-0.5%) are the only regions to have suffered some negative changes in prices in the last 12 months.
As regards prices, Trentino-Alto Adige is confirmed also in 2024 as the Italian region with the most expensive homes with its average of 3,285 euros, followed by Valle d'Aosta (2,778 euros/m2) and Liguria (2,513 euros/ m2). Real estate values ​​above the national average also in Tuscany (2,351 euros/m2), Lombardy (2,276 euros/m2), Lazio (2,121 euros/m2), Emilia-Romagna (1,933 euros/m2) and Veneto (1,914 euros/m2 ).
The other 14 regions have prices lower than the Italian average ranging between 1,657 euros per square meter in Sardinia and 929 in Molise, the most accessible region for aspiring Italian homeowners.