Europe's news in English

COPY LINK

For members

PROPERTY

These are the Italian cities where rent prices are rising fastest

An increasing number of properties being used as short-term tourist rentals is thought to be behind rising rent prices.

Published: 8 November 2019 17:12 CET

These are the Italian cities where rent prices are rising fastest

Apartments in Venice. Photo: DepositPhotos

Average rental prices across Italy are returning to pre-crisis levels according to analysis by rental website Solo Affitti, with prices now only 4 percentage points lower than they were in 2009.

Prices in Milan are now double the national average and rental costs shot up by almost ten percent in Bologna last year, the report shows.

READ ALSO: What's wrong with the Italian property market?

Generally, rents are rising faster in the centre and north of the country than in the south and islands. But there are some notable exceptions, with rental prices rising sharply in many cities across Italy.

In fact, prices rose faster in the southern cities of Bari (+6.9 percent ) and Palermo (+6.8 percent ) than in any other Italian city except for Bologna (+9.8 percent)

Milan remains the most expensive place to rent in Italy, with an increase of 6.3 percent. Furnished rental properties in the northern city now cost an average of 1,234 euros a month.

In Rome, where average rental prices had actually fallen by some four percent, due to the introduction of regulations on rent prices in the city, the average monthly cost was 884 euros.

One factor behind increasing rental prices is the “shift of part of the supply of housing to the short-term rental market”, according to Silvia Spronelli, President of Solo Affitti.

The increasing number of Italian homes being turned into short-term holiday lets or bed and breakfasts was “leading to a reduction in the availability of properties for residential leases, pushing up rents,” she said.

READ ALSO:

Spronelli also cited Italians' “incresingly fluid” relationships as another factor, with “young cohabiting couples on the increase, as well as more divorces and separations.”

Milan and Bologna are also the most expensive places in Italy to rent a single room, a separate report showed last month, with price rises in this sector reportedly fuelled by a rising number of professionals moving to new cities for work and living in shared apartments.

Photo: Depositphotos

Member comments

Log in here to leave a comment.

Become a Member to leave a comment.

EXPLAINED: How to find a longer-term apartment rental in Italy

You’ve arrived in Italy, and you think you might be able to settle down for a while. But there’s one thing you need to do first — find a longer-term place to stay.

Finding a long-term rental in Italy can be daunting, as the process can be very different from finding a place in countries like the US, UK or Canada.

READ ALSO: Why are long-term apartment rentals ‘disappearing’ in Italy?

Here’s what you need to know before going hunting for the perfect home.

Rental contracts

When you’re ready to move out of short-term housing, it’s worth knowing that Italy’s rental contracts tend to be on the long side.

That’s because they’re designed to protect tenants like you, and ensure you have a place to live for up to eight years at a time.

Generally, most long-term rental contracts fall into just two categories.

The first, 3+2 or ‘determined rent’ (canone concordato) contracts, are for a minimum of three years, with an automatic option to renew for two more. Rent in these units are set by the municipality, and cannot be negotiated.

The second category is 4+4 or ‘negotiated rent’ (canone libero). Here the landlord can set the rent at what they want, but must offer a contract for a minimum of four years, with an automatic option to renew for four more.

There are also some shorter-term leases, generally reserved for students and temporary workers — you can read about them in our guide to rental contracts.

Consider which type of rental contract works best for you. Photo by mike nguyen on Unsplash

You will need your codice fiscale to enter into any contract, and may need to prove your income is sufficient or secure a rental guarantee from a major bank. You’ll also need to provide a deposit equal to between one and three month’s rent.

READ ALSO:

If you’re worried about committing to Italy for three or four years at a time, don’t worry — most rental contracts include a clause that allows you to leave with notice. But be warned, it’s often not the one or two months typical in English-speaking countries. In Italy, anticipate giving at least six months notice before moving on.

These terms, along with your rent, can also be negotiated when you’re closing the deal, which is one reason why you might consider finding your apartment with an agency.

Using an agency

Most Italian towns or regions will have a plethora of agenzie immobiliare that can help you find your future home.

These agencies will do the work of finding and connecting you with potential properties, and negotiate on your behalf for terms that suit your needs.

They also offer a human touch, potentially making the whole process less intimidating. If you have special needs or accommodations, like a dog or a disability, they will screen out the properties that don’t meet your requirements.

Rental agencies can help you find properties that meet specific requirements. Photo by MIGUEL MEDINA / AFP.

READ ALSO: How can I find an apartment to rent in Rome?

And, they may know about some properties before they hit the open market, giving you a leg up on the competition.

But there are downsides, too. Properties let through rental agencies can be more expensive, as the owners must cover the costs of their own fees to the agency.

Rental agencies can also act as gatekeepers, and are notorious for refusing to work with students or recent immigrants, or freezing out prospective tenants they just don’t like the look of.

As a rule, rental agencies will take a commission upon sealing the deal from both the tenant and the owner. That commission is usually equivalent to one or two months rent, but in some cases is calculated as a percentage (usually 10-15 percent) of your total annual rent.

It will also usually be subject to 21 percent VAT, meaning your total cost for a commission on a €800 per month flat could be as high as €1,700 or more.

Since commission is determined partly by local custom, it’s important to ask before beginning your search with an agency what the commission will be.

Searching online

If those fees look a little steep — or if you just want to explore every option — there are an increasing number of real estate rental websites you can investigate.

These sites often offer a mix of properties proposed by rental agencies and those rented by owners. Anecdotally, your success and response rate may vary greatly.

Real estate websites are a key resource when apartment-hunting in Italy. Photo by Caitlin Oriel on Unsplash

The biggest websites include Idealista.it, Immobiliare.it, and Casa.it. All work more or less the same way: select your area, filter by rental cost, number of rooms, and other details, and see what’s available.

There are also often rentals posted on the classifieds site Subito.it, and even Facebook Marketplace.

Be wary of scams on any of these sites — never exchange money without visiting the apartment and signing a contract first.

All offer direct messaging systems, but be sure to read the descriptions of properties carefully, as many will encourage you to call or text via WhatsApp instead.

If you do write a message, make sure it is in your best Italian — it will no doubt be read alongside many others and you want to put your best foot forward. Consider reading up on our guide for formal email writing in Italian before diving in.

Terminology to help your search

In Italy, most apartments are listed by the total number of rooms, minus the bathroom. A monolocale (one-room) is a bachelor or studio apartment; a bilocale (two-room) is a one-bedroom.

Kitchens are more often an angolo cottura (kitchenettes) than full separate rooms — but where they are divided, they will not always be included in the room count.

If you don’t want to buy all your furniture, look for apartments that are arredato or furnished. If you opt for an unfurnished apartment, be warned — it may come without even kitchen appliances or light fixtures.

Be prepared for an unfurnished apartment in Italy to be truly bare. Photo by Steven Ungermann on Unsplash

READ ALSO: Ten things to expect when renting an apartment in Italy

Keep an eye out also for spese condominiali, which are often additional to advertised rent. These are monthly fees to cover common costs like lift maintenance, garbage collection, and central heating. They’re often charged at a flat rate and then reconciled with actual costs a few times a year.

Since the energy crisis, many of these fees have been skyrocketing, so when visiting a property, it may be worth asking what the current average cost is when you can.

Prepare for a long search

Once you begin your search, you may be looking for a while. Make sure to prepare for at least a few months of searching.

Recently, data has shown a massive drop in the availability of long-term rentals in many major centers. Landlords have little appetite to find tenants when they’re locking in rents during a time of soaring inflation.

Consider also that in many university towns, there are shortages of housing around the beginning of each semester. If you can time your search to fall between these periods, you may have a better chance of success.

Url copied to clipboard!