REVEALED: Where rent prices in Italy are set to rise the most
The cost of renting in Italy is set to increase compared to this time last year, according to a new report. Here's how much more tenants might have to pay and where prices are the highest.
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During the past year, Italian rent prices have surged, adding to the rising cost of living in the country.
While inflation in Italy month on month continued to slow down in July, the annual average has jumped.
New consumer price figures for July 2023 from national research institute Istat reported that the data showed "price stability".
However, the index revealed a yearly increase of 5.7 percent compared to July 2022.
The impact of inflation on rent adjustments is considerable for Italian households with annual rent reviews.
IN MAPS: How Italy’s property prices vary by region
Based on the figures, rent costs in Italy are expected to rise by an average of 37 euros per month (444 euros per year), according to a study carried out by property website Idealista.
Renters in Milan will see the greatest increases, whose monthly rent is forecast to jump by 66 euros compared to last year. That equates to an extra 792 euros per year for rent-paying families.
It's closely followed by Bologna, where inflation figures mean monthly rent prices could increase by 54 euros, or in other words, an extra 648 euros per year.
The report focused on the analysis of the average rent for a three-room apartment (trilocale) - the category noted as the most requested by families on the property portal.
A trilocale means three rooms in total, not three bedrooms.
READ ALSO: What are the best Milan neighbourhoods for international residents?
In Italy, the average rent for a three-room house cost 650 euros per month in July 2022. The annual adjustment calculated with the inflation index in July 2023 means tenants would therefore have to pay 37 euros more per month.
That marks an average Italian monthly rent of 687 euros for a three-room apartment.
Findings showed this varied considerably, though, depending on the Italian city.
After Milan and Bologna, the inhabitants of Venice and Florence will see the next highest rises, as rent could cost an extra 51 euros per month (612 euros a year). Bolzano and Rome follow at 48 euros per month, or 576 euros per year.
READ ALSO: 15 insider tips to make living in Bologna even better
The chart below shows the top 20 cities where the rent price rises are the highest and how that compares to July 2022.
While the heaviest increases are mainly located in the north of Italy, some southern cities will also feel the sting.
Rent for three-room apartments in Naples and Olbia have recorded a possible extra 40 euros per month, Cagliari noted an extra 38 euros per month and Bari stood at 36 euros more per month.
READ ALSO: Cost of living in Italy to rise again from September
At the bottom of the chart are the towns of Caltanissetta (Sicily), Enna (Sicily), Terni (Umbria), Vibo Valentia (Calabria), Isernia (Molise), and Lanusei (Sardinia), where renters are predicted to pay no more than an extra 20 euros per month.
Lanusei in Sardinia is the cheapest city to rent in, with an average monthly rent of 264 euros, marking a projected slight increase from 250 euros this time last year.
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During the past year, Italian rent prices have surged, adding to the rising cost of living in the country.
While inflation in Italy month on month continued to slow down in July, the annual average has jumped.
New consumer price figures for July 2023 from national research institute Istat reported that the data showed "price stability".
However, the index revealed a yearly increase of 5.7 percent compared to July 2022.
The impact of inflation on rent adjustments is considerable for Italian households with annual rent reviews.
IN MAPS: How Italy’s property prices vary by region
Based on the figures, rent costs in Italy are expected to rise by an average of 37 euros per month (444 euros per year), according to a study carried out by property website Idealista.
Renters in Milan will see the greatest increases, whose monthly rent is forecast to jump by 66 euros compared to last year. That equates to an extra 792 euros per year for rent-paying families.
It's closely followed by Bologna, where inflation figures mean monthly rent prices could increase by 54 euros, or in other words, an extra 648 euros per year.
The report focused on the analysis of the average rent for a three-room apartment (trilocale) - the category noted as the most requested by families on the property portal.
A trilocale means three rooms in total, not three bedrooms.
READ ALSO: What are the best Milan neighbourhoods for international residents?
In Italy, the average rent for a three-room house cost 650 euros per month in July 2022. The annual adjustment calculated with the inflation index in July 2023 means tenants would therefore have to pay 37 euros more per month.
That marks an average Italian monthly rent of 687 euros for a three-room apartment.
Findings showed this varied considerably, though, depending on the Italian city.
After Milan and Bologna, the inhabitants of Venice and Florence will see the next highest rises, as rent could cost an extra 51 euros per month (612 euros a year). Bolzano and Rome follow at 48 euros per month, or 576 euros per year.
READ ALSO: 15 insider tips to make living in Bologna even better
The chart below shows the top 20 cities where the rent price rises are the highest and how that compares to July 2022.
While the heaviest increases are mainly located in the north of Italy, some southern cities will also feel the sting.
Rent for three-room apartments in Naples and Olbia have recorded a possible extra 40 euros per month, Cagliari noted an extra 38 euros per month and Bari stood at 36 euros more per month.
READ ALSO: Cost of living in Italy to rise again from September
At the bottom of the chart are the towns of Caltanissetta (Sicily), Enna (Sicily), Terni (Umbria), Vibo Valentia (Calabria), Isernia (Molise), and Lanusei (Sardinia), where renters are predicted to pay no more than an extra 20 euros per month.
Lanusei in Sardinia is the cheapest city to rent in, with an average monthly rent of 264 euros, marking a projected slight increase from 250 euros this time last year.
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