Record rents in Italy with an average price growth of 12.7% year-on-year. These are the figures from Idealista's latest report: Milan holds the record for the highest rents in the country. In May 2024 the cost of rented properties in Italy rose by 2.9%, reaching an average of 13.9 euros/m², the highest price recorded by the real estate portal since 2012, the year of the first survey. Rents are growing in most capitals: 52 centers registered an increase while 32 marked declines. Cities with the largest increases include Campobasso (8.1%), Catanzaro (6.5%), Rimini (5.3%) and Caserta (5%). Major city markets also showed an increase in rents as in Turin (3%), Naples (1.9%), Milan (0.6%), Palermo (0.3%) and Florence (0.2%). Only Rome recorded a marginal drop, of 0.1%, while the most significant declines for the month were found in Barletta (-9.9%), Trani (-7.7%), Chieti (-5.8%) and Asti (-4.9%). Milan remains the most expensive city with an average of 23.5 euros/m², followed by Florence (20 euros/m²), Bologna (17.3 euros/m²) and Rome (16.5 euros/m²). Como, Naples and Bolzano also record values above the national average of 13.9 euros/m² per month: they are 16 euros/m², 15 euros/m² and 14.7 euros/m², respectively. In the South the situation seems to be better, the most affordable cities for Italian renters are in fact Caltanissetta (4.6 euros/m²), Reggio Calabria (5.5 euros/m²) and Cosenza (5.6 euros/m²).
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