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These are the Italian cities where rent prices are rising fastest

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These are the Italian cities where rent prices are rising fastest
Apartments in Venice. Photo: DepositPhotos
17:12 CET+01:00
An increasing number of properties being used as short-term tourist rentals is thought to be behind rising rent prices.

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.

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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

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