Rents in Italy fell: prices fell by 1.7% in August, but Milan retains its status as the most expensive city

In August 2026, the Italian rental market demonstrated an unexpected reversal. After a long period of steady growth, average prices fell into negative territory for the first time: over the month, rents fell by 1.7%, and in annual terms, the correction amounted to -0.8%. According to current data from the real estate analytical center idealista, the average rental price for residential property in the country has settled at 14.6 euros/m2.

The method matters: cutting out "tourist noise"

Analysts implemented advanced statistical filters that allowed them to exclude short-term seasonal and resort listings from the overall sample, which distorted the overall picture. A recalculation of the entire historical data series showed that the real long-term market has entered a cooling phase, and the gap between offers for tourists and local residents has become even more pronounced.

Dynamics in megacities: Rome and Venice are losing ground, Turin is breaking records

Of the 94 administrative centers of the country analyzed, a fall in prices affected 53 cities, an increase was recorded in 38, and complete stability was maintained in 3.

• Milan traditionally maintains the status of the most expensive city in Italy. Despite a microscopic decrease of 0.5%, tenants here will have to pay an average of 22.3 euros / m2.
• Rome, Florence and Venice showed a noticeable decline: the capital fell by 2.8% (to 19.1 € / m2), Florence lost 3.1% (to 21.7 € / m2), and Venice went down by 3.6% (to 20.2 € / m2).
• Turin was the main exception among the major markets: thanks to steady demand, the city grew by 1.3% and renewed its own historic maximum, reaching 13.1 euro/m2.
• Leaders in growth and decline: The strongest price increases among medium-sized cities were shown by Trani (+5%), Alessandria (+4.1%) and Ragusa (+4%). At the same time, housing prices fell significantly in Ravenna (-6.2%), Chieti (-5.5%) and Brindisi (-5.2%).

At the opposite extreme of prices are the cities of southern Italy: Caltanissetta with a price tag of 4.5 euros/m2, as well as Potenza and Reggio Calabria (6.2 euros/m2).

Regional features and provincial anomalies

At the provincial level, statistics show an even greater range of prices due to geography and the specifics of local real estate.

• The phenomenon of the province of Lucca: Analysts recorded a record average rate for the country here - 51.1 euros/m2. This non-systemic indicator is formed due to the ultra-expensive segment of luxury real estate on the Versilia coast (in particular, in Forte dei Marmi).
• Regional contrasts: Valle d'Aosta (25.7 €/m2) and Tuscany (20.9 €/m2) remain the most expensive regions of the country, followed by Lombardy (18.8 €/m2) and Lazio (15.8 €/m2). The Molise region closes the national list, where rent costs only 6.4 euros/m2.

The current correction shows that the Italian rental market is gradually reaching the "ceiling" of the population's solvent demand, especially in premium locations in the central and northern parts of the country.