The latest data from immobiliare.it has revealed that the average price of residential property in Italy increased by 1.91% in April 2023, compared to April 2022.

The national asking price for residential property for sale in Italy was €1,971sqm in April, which is a two-year high and is 10.4% up from the bottom of the market, recorded in December 2019.

Despite this, average property prices in Italy are still down 10.5% over the past eight years, compared to April 2015 when the average price was €2,202sqm. However, in April 2015 the average rental property was let for €9.10sqm per month, so the gross rental yield was 5.0%. Since then, average rental prices in Italy have continued to rise at a steady pace and today the average monthly rent is €12.20sqm (an increase of 34% in the past eight years). This means that the average rental yield in Italy has increased from 5.0% to 7.4%.

The cheapest region to buy property in Italy is the Calabria region, where property only costs €925sqm on average. Rents in the region are €7.70sqm per month, giving an average rental yield of 10%.