Rent prices in Italy decline: a 1.7% drop in August, yet Milan remains the costliest city

During August 2026, the Italian rental sector experienced an unexpected shift. Following a prolonged period of growth, average prices dipped into negative territory for the first time: showing a 1.7% decrease, with an annual correction of -0.8%. Recent data from the real estate analytics center idealista indicates that the average rent for residential properties in Italy now stands at 14.6 euros/m2.

The approach is crucial: eliminating "tourist noise"

Analysts utilized sophisticated statistical filters to eliminate short-term seasonal and vacation listings from the overall data, which had been distorting the comprehensive view. A reassessment of the entire historical dataset revealed that the long-term market trend is cooling down, with a growing disparity between offerings for tourists and local residents.

Trends in major cities: Rome and Venice see declines, Turin reaches new highs

Out of the 94 administrative centers analyzed in Italy, 53 cities experienced price drops, 38 saw increases, and 3 remained stable.

• Milan continues to hold the title of Italy's priciest city. Despite a marginal decrease of 0.5%, tenants in Milan will face an average rate of 22.3 euros/m2.
• Rome, Florence, and Venice experienced notable declines: Rome dropped by 2.8% (to 19.1 €/m2), Florence decreased by 3.1% (to 21.7 €/m2), and Venice saw a reduction of 3.6% (to 20.2 €/m2).
• Turin stood out among the major markets: fueled by consistent demand, the city grew by 1.3%, setting a new historical high at 13.1 euros/m2.
• Leaders in fluctuation: Trani (+5%), Alessandria (+4.1%), and Ragusa (+4%) saw the most significant price hikes among mid-sized cities, while Ravenna (-6.2%), Chieti (-5.5%), and Brindisi (-5.2%) experienced substantial decreases.

On the lower end of the price spectrum are the southern Italian cities: Caltanissetta at 4.5 euros/m2, alongside Potenza and Reggio Calabria at 6.2 euros/m2.

Regional distinctions and peculiarities at the provincial level

Provincial statistics reveal a wider price range due to geographical factors and local real estate dynamics.

• The phenomenon in Lucca province: A national record rent rate was documented here - 51.1 euros/m2. This atypical figure is influenced by the ultra-luxury real estate segment along the Versilia coast, notably in Forte dei Marmi.
• Regional disparities: Valle d'Aosta (25.7 €/m2) and Tuscany (20.9 €/m2) remain the priciest regions, followed by Lombardy (18.8 €/m2) and Lazio (15.8 €/m2). Molise closes the list with rent costs at only 6.4 euros/m2.

The current adjustment suggests that the Italian rental market is approaching the saturation point of the population's purchasing power, particularly in premium locations in the central and northern regions of the country.