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What will happen in Emilia-Romagna’s real estate market? Will prices go up or down? Is Bologna still a hotspot for foreign investors? How is Italy’s government impacting real estate policies and taxes in 2025?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with notaries, real estate agents, and clients who buy properties in Emilia-Romagna, we’ve gained firsthand insights.
That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market predictions and forecasts.
Our goal is simple: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.
1) Rental yields in coastal towns will increase as tourism and short-term rental opportunities grow
Rental yields in coastal towns are on the rise thanks to booming tourism and short-term rental opportunities.
Take the Riviera in Emilia-Romagna, for example. In 2023, it saw a 26.5% jump in tourist arrivals compared to the previous year. This momentum carried into early 2024, with arrivals climbing another 9.3% and presences up by 9.9% from 2023.
Short-term rentals are thriving, with occupancy rates reflecting this surge. The region's tourism industry reported a 9.9% increase in attendance in the first quarter of 2024 compared to the previous year. This influx of visitors has driven a 25.1% rise in overall presences in the Riviera, boosting the demand for short-term stays.
Coastal properties, including those in Emilia-Romagna, are cashing in. Revenues for the peak summer season have jumped by 29%, and they're already 44% ahead for the May-August period compared to last year. Even with lower average daily rates, the sheer volume of rentals is making up for it, turning short-term rentals into a goldmine for property owners.
Sources: Aviation Week, Beyond Pricing, La Milano
2) More foreign buyers will invest in Emilia-Romagna as its quality of life gains international recognition
Foreign buyers are increasingly eyeing Emilia-Romagna as it gains fame for its quality of life.
In 2023, the Gate-away.com report showed a surge in interest from international buyers looking at Italian properties, including those in Emilia-Romagna. This uptick suggests that more foreigners see the region as a promising investment.
Bologna, a key city in Emilia-Romagna, was named the top Italian city for quality of life by Sole 24 Ore in 2023. Such accolades can draw more global attention. Plus, the Emilia Romagna Festival, a major cultural event, attracts international artists and audiences, boosting the region's appeal.
Transportation is getting a boost too, with upgrades to the Rimini and San Marino International Airport. Better connections are vital for luring foreign buyers. The region also saw 61.8 million overnight stays in 2023, surpassing pre-pandemic numbers, hinting at a rise in foreign interest that could lead to more property purchases.
Sources: Gate-away.com, Invest in Emilia-Romagna, Festival Finder, Aviation Week
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Italy. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
3) Foreign buyer demand in Bologna will grow as it becomes a key educational and cultural hub
Bologna is becoming a hotspot for foreign property buyers as it grows into a major educational and cultural center.
The University of Bologna is seeing a surge in international students, making it a magnet for families worldwide. This influx of students is not just about education; it’s about creating a vibrant, multicultural community that adds to the city's charm.
Bologna's cultural scene is thriving, with more events and festivals drawing in global crowds. The Bologna Welcome Card, which gives access to historical sites, has seen a 30% increase in sales since 2019, showing the city's rising popularity. This cultural boom is also reflected in the luxury real estate market, where historic center properties are catching the eye of investors and tourists alike.
Infrastructure is getting a boost with a €3.2 billion fund for sustainable mobility and urban regeneration. These improvements, along with more direct international flights, are making Bologna more accessible and appealing to foreign visitors and potential residents.
Real estate reports highlight a significant uptick in foreign investment, driven by Bologna's cultural allure, economic stability, and ongoing infrastructure projects. The city's blend of history and modernity is a key factor in attracting international buyers looking for both investment opportunities and a place to call home.
As Bologna continues to enhance its educational and cultural offerings, the demand from foreign buyers is expected to grow, making it a city to watch in the real estate market.
Sources: Eurocities, Bologna Welcome
4) Rental yields in Bologna will rise as more international students and professionals move in
Rental yields in Bologna are set to rise as the city becomes a magnet for international students and professionals.
The University of Bologna is seeing a surge in international students, with a 20% jump in Economics and a 27% increase in Civil Engineering enrollments. This trend is likely to continue as the university broadens its international programs and support for non-Italian students.
Bologna is also catching the eye of multinational companies, thanks to its vibrant entrepreneurial scene and top-notch educational institutions. This influx of international businesses is expected to boost demand for rental properties, as more professionals look for places to live in the city.
With improved connectivity and transportation, Bologna is becoming an even more attractive business hub, drawing in international professionals. The city's population is growing, with over 15,000 new residents each year, many of whom are young, educated immigrants.
This demographic shift is creating a thriving expatriate community, which in turn is driving up demand for rental properties. Real estate experts predict that these changes will lead to higher rental yields, supported by Bologna's strong economic sectors and cultural attractions.
Sources: Statista, University of Bologna, URBACT, NetZeroCities
5) Property prices in Piacenza will rise as it becomes a key logistics and distribution hub
Piacenza is quickly becoming a key player in the logistics and distribution scene.
In recent years, especially around 2023 and 2024, Piacenza has seen a surge in investments aimed at enhancing its logistics infrastructure. For example, Barings made a significant move by acquiring a large site in Caorso to develop cutting-edge warehouses. Not to be outdone, Prologis expanded its logistics park in the area, further cementing Piacenza's role as a logistics hub.
But it's not just about new buildings popping up. Piacenza's strategic location, with its top-notch rail and highway connections to major cities like Milan and Genoa, makes it a logistics dream. This connectivity is a game-changer for businesses that rely on efficient transportation links to thrive.
The boom in the logistics sector is also a boon for local employment, which naturally supports the property market. As more companies establish distribution centers, the demand for commercial real estate is on the rise, pushing property prices higher. The buzz around Piacenza's strategic advantages is drawing in investors, making the property market more competitive.
Media coverage and studies are shining a light on Piacenza's potential, attracting even more interest. This growing attention is creating a ripple effect, with property prices climbing as the area becomes more desirable for both businesses and investors.
Sources: Barings, Prologis, Civitas
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6) Property prices in Emilia-Romagna will grow moderately thanks to economic stability and regional development
Emilia-Romagna is experiencing moderate growth in residential property prices thanks to its strong economic stability.
With one of the highest GDP per capita in Italy, Emilia-Romagna's economic strength is evident. In 2022, the region's GDP per capita in PPS was 117% of the EU average. This, along with Italy's GDP growth of 2.8% in 2022, has boosted consumer confidence, making the property market more appealing.
The employment rate in Emilia-Romagna was notably high at 70.6% in 2023, showcasing a robust labor market. This strong employment scenario is a key factor in the region's economic stability, making it an attractive place for property investment.
New residential developments and improved transportation links are enhancing the region's appeal. Cities like Bologna and Modena offer high-quality living conditions and advanced social services, while coastal resorts such as Cervia and Rimini attract both domestic and foreign investors.
Increased foreign investment is driven by the region's economic stability and cultural attractions. This demand for residential properties is further fueled by Emilia-Romagna's appeal to international buyers, who are drawn to its vibrant lifestyle and opportunities.
Overall, Emilia-Romagna's combination of economic strength, employment opportunities, and lifestyle offerings make it a prime location for property investment, with steady growth expected in the coming years.
Sources: IZ.sk, EURES, Esales International
7) Demand for rentals near universities in Emilia-Romagna will grow as more international students arrive
International students are flocking to Italy, especially in regions like Emilia-Romagna.
The University of Bologna, a key player in this trend, is seeing a steady rise in international enrollments. This surge is creating a higher demand for student housing in cities like Modena, where certain neighborhoods are becoming hotspots for these students.
In Modena, the real estate market is feeling the impact. Rental prices for apartments are climbing, a clear sign of the increased demand driven by international students. This trend is not just local; it's part of a broader European pattern.
Real estate experts predict that student housing will remain a strong performer in Europe. This is largely due to stable immigration policies and a persistent shortage of supply, making it a promising investment area.
For potential property buyers, this means that investing in student accommodation could be a smart move. The influx of international students is boosting the rental market, especially near universities.
With more students choosing Italy for their studies, the demand for rental properties is set to grow, particularly in university towns. This trend offers a unique opportunity for those looking to invest in real estate.
Sources: Erudera, University of Bologna, Erasmus Play, IPE Real Assets
8) Investment property profits in tourist areas will drop due to stricter short-term rental regulations
Stricter regulations on short-term rentals are shaking up the property market in tourist hotspots.
In Italy, new rules introduced in 2024 are making waves, especially in places like Bologna. If you're thinking about investing in a property here, be aware that hosts now need to follow specific guidelines. For example, they must obtain a Certified Start of Activity Report (SCIA) and register with the Collection and Control Office to pay the tourist tax. These steps are crucial, as failing to comply can lead to fines ranging from €2,000 to €10,000. This is particularly important for those renting out more than four properties without the right licenses.
These regulations are not just about paperwork; they are reshaping the market. In Bologna, the number of short-term rental listings has already dropped. This means fewer options for tourists, which can lead to lower occupancy rates for properties that depend on short-term rental income. If you're considering an investment, this is a key factor to keep in mind.
Why all these changes? The goal is to control the booming short-stay market fueled by platforms like Airbnb. By enforcing a minimum two-night stay and requiring a National Identification Code (CIN) on all listings, authorities aim to manage the influx of tourists and ensure fair play in the rental market. This can be a double-edged sword for investors, as it might limit the potential for quick profits.
For those eyeing investment properties in tourist-heavy areas, these regulations could mean a shift in strategy. With fewer short-term rentals available, the competition might decrease, but so could the overall profitability. It's a balancing act between compliance and maximizing returns.
As these regulations take hold, the landscape for property investment in Italy is changing. Investors need to stay informed and adapt to these new rules to navigate the evolving market successfully.
Sources: Property Guides, BNB Calc, Route Fifty
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Italy versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
9) Green-certified home values will rise as government pushes for sustainable building practices
Government initiatives are boosting the value of green-certified homes.
In Emilia-Romagna, there's a big push towards carbon neutrality by 2050 and a shift to 100% renewable energy by 2035. This isn't just about the environment; it's about making smart investments in people and communities, which in turn supports the value of green-certified homes.
Recent data shows that in 2023 and 2024, green-certified homes in Italy sold at a 25% premium compared to less efficient ones. This trend is particularly strong in regions like Emilia-Romagna, where energy-efficient homes are becoming more popular. The reason? They offer energy savings and lower utility costs, making them a smart buy.
People are increasingly interested in eco-friendly living. A survey found that 45% of consumers prefer sustainable homes. This shift in consumer preference is expected to continue driving up the value of green-certified properties.
Government incentives like the Ecobonus and Superbonus 110 are making these homes even more appealing. These incentives not only make green-certified homes more affordable but also increase their market value by attracting more buyers.
Sources: Emilia-Romagna Agenda 2030, Banca d'Italia, GlobeNewswire, National Association of Realtors
10) Prices for historic properties in Emilia-Romagna will rise as foreign investors focus on them
Interest in historic properties in Emilia-Romagna is booming, especially among international buyers.
In cities like Bologna and Modena, property prices in historic districts are climbing as foreign investors pour in. They're not just buying; they're also funding restoration projects that preserve the charm and boost property values.
Italy is a magnet for foreign real estate investments, and Emilia-Romagna is no exception. By 2025, real estate transactions in Italy could top €140 billion, making it a prime spot for investors.
Foreign buyers are particularly drawn to the region's rich cultural heritage and stunning architecture. This focus on historic properties is driving up prices in these segments, as investors see both cultural and financial value.
These investments are not just about owning a piece of history; they're about being part of a vibrant community. The influx of international interest is transforming the real estate landscape in Emilia-Romagna.
As more investors look to historic properties, the region is poised for continued growth. This trend is reshaping the market, making it an exciting time for potential buyers.
Sources: Born2Invest, Invest in Emilia-Romagna
11) More foreign buyers will seek properties in Parma for its culinary fame and lifestyle appeal
In 2023 and 2024, over 12% of residential sales in Italy involved international buyers, and this trend is expected to grow in 2025.
Parma is gaining fame for its culinary excellence, known as the "food basket of Italy" with delights like Parmigiano Reggiano cheese and Parma ham. This reputation is not just local; international culinary awards have put Parma on the map for food lovers worldwide.
The media is buzzing about Parma's vibrant food scene, which is drawing in international attention. With a growing number of food and wine festivals, Parma is becoming a hotspot for culinary tourism, attracting visitors who might just fall in love with the idea of owning a piece of this gastronomic paradise.
Social media is also playing its part, with influencers and bloggers showcasing Parma's food wonders. This online buzz is bringing more international eyes to Parma, making it even more appealing to potential property buyers.
For those considering a move, Parma offers more than just food. The lifestyle here is relaxed yet vibrant, with a rich cultural heritage and beautiful landscapes. It's no wonder that foreign buyers are increasingly targeting properties in Parma for its unique blend of lifestyle and culinary appeal.
Whether it's the allure of the food, the charm of the city, or the promise of a laid-back lifestyle, Parma is becoming a top choice for international property buyers looking for something special in Italy.
Sources: The International Kitchen, Italian Food News, Marco Avigo Tours
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12) Rental yields in urban areas will stay stable as demand matches population growth
Urban areas in Emilia-Romagna are set to enjoy stable rental yields thanks to a steady demand fueled by population growth.
In 2024, the region's population was around 4.5 million, with bustling cities like Bologna, Parma, and Modena being major hubs. This steady rise in urban populations keeps the rental market thriving.
Emilia-Romagna's economy is robust, with industries like manufacturing and tourism playing key roles. Cities such as Bologna and Modena offer plentiful job opportunities, drawing in more residents and ensuring a constant need for rental homes.
Government projects to boost public transport and amenities make city life more attractive, which in turn supports stable rental yields. The presence of universities in cities like Bologna also plays a part, as students and faculty members contribute to the ongoing demand for rentals.
With a strong economy and strategic infrastructure improvements, urban living in Emilia-Romagna remains appealing. The consistent influx of students and professionals into these cities keeps the rental market buoyant.
As these factors continue to align, rental yields in urban areas are expected to remain stable, making it a promising region for property investment.
Sources: City Population, Ascendix Tech, Wikipedia
13) Property values in Modena's historic center will rise as it gains fame as a cultural hotspot
Modena's historic center is becoming a cultural hotspot, which is set to boost property values.
In 2023 and 2024, Modena saw a surge in tourism, with the Emilia-Romagna region reporting a 9.3% increase in tourist arrivals and a 9.9% rise in presences in early 2024. This uptick is largely thanks to Modena's lively cultural scene, featuring events like the European Music Festival, which brings in a mix of musical genres and cultural activities.
Modena is not just about music; it hosts a variety of cultural events such as the Smart Life Festival, Festival Filosofia, and the Emilia Food Fest. These events not only attract tourists but also boost the city's cultural reputation, making it a magnet for visitors and potential property investors.
The media has been buzzing about Modena's cultural attractions, further enhancing its appeal. This increased attention is drawing more visitors and investors, eager to be part of the city's vibrant scene.
With its rich cultural offerings and growing popularity, Modena's historic center is poised for a rise in property values. The city's blend of tradition and modernity makes it an attractive option for those looking to invest in a culturally rich environment.
As Modena continues to shine on the cultural map, its property market is expected to follow suit, offering promising opportunities for buyers. The city's unique charm and cultural vibrancy are key factors driving this trend.
Sources: La Milano, Emilia Delizia, Rick Steves' Travel Blog
14) Interest in properties with shared amenities will grow as community living becomes more desirable
In Emilia-Romagna, the demand for co-housing projects has surged in 2023 and 2024.
These projects aren't just about having a roof over your head; they’re about being part of a community. Real estate developments now often include shared amenities like community gardens and common spaces, designed to bring people together. It's not just a home people are after; they want a lifestyle rich with social connections and shared experiences.
Consumer surveys highlight a strong preference for these community-oriented spaces. People are actively looking for properties that offer more than just individual units. They crave a sense of belonging, where they can interact with neighbors and join in communal activities.
Eco-villages and intentional communities are also gaining traction in the region. These places focus on sustainability and shared resources, offering a lifestyle that aligns with the growing interest in sustainable living. The Granara Ecovillage, for instance, is a hub for ecological research and community living.
In these communities, the emphasis is on shared living spaces and communal areas, reflecting a growing desire for community-oriented living. This trend is particularly appealing to those who value sustainability and social interaction.
As more people seek out these types of living arrangements, the real estate market in Emilia-Romagna is adapting to meet this demand. The desire for community living is driving interest in properties with shared amenities and communal areas.
Sources: UNECE, Ecovillaggi, Urbact, Educazione Interculturale, Granara Village
We have made this infographic to give you a quick and clear snapshot of the property market in Italy. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
15) High-end property prices in urban centers will keep rising due to strong demand
The demand for high-end properties in urban centers like Bologna and Modena is on the rise.
These cities are not just about their rich history and vibrant culture; they are magnets for high-net-worth individuals who appreciate the finer things in life. With their charming streets and exquisite dining options, it's no wonder that property prices are climbing steadily.
What's driving this trend? Well, it's the influx of international buyers and early retirees who are eager to invest in the region. They are captivated by Emilia-Romagna's culinary excellence and modern amenities, making it a prime spot for luxury real estate.
But here's the catch: there's a limited availability of high-end properties in these urban centers. This scarcity is pushing prices even higher as demand continues to outstrip supply. It's a classic case of too many buyers and not enough homes.
International buyers are particularly interested in investing in bed and breakfasts or Airbnb properties, adding another layer of demand. This trend is reshaping the real estate landscape in these cities.
So, if you're considering buying a property in Bologna or Modena, be prepared for a competitive market. The allure of these cities is undeniable, and the demand for high-end properties is only going to grow.
Sources: Luxury Real Estate, Gate-Away
16) Property prices in Bologna will rise significantly as it transforms into a tech hub
Bologna is quickly becoming a tech hub, and this is set to shake up the property market.
With the tech scene booming, there's a big demand for skills like Python, cybersecurity, and data analysis. This means companies are on the hunt for top talent, and as they do, property prices are likely to rise as they try to lure these professionals to the city.
Tech startups and established companies are flocking to Bologna, setting up shop and competing for the best office spaces. This rush is pushing property prices up, especially as the Italian government is actively promoting Bologna as a tech destination, drawing even more investment and businesses.
There's also a lot of money being poured into tech infrastructure and innovation centers, which is a big boost for the tech sector. This investment is not just about tech; it's about increasing property values as the city becomes more attractive to tech professionals and companies.
Local universities are teaming up with tech companies to offer training and resources, which is enhancing Bologna's reputation as a tech hub. This collaboration is a magnet for talent and businesses, further driving the city's growth and pushing property prices higher.
As Bologna continues to evolve into a tech powerhouse, the property market is set to follow suit, making it a hot spot for potential buyers looking to invest in a city on the rise.
Sources: Nucamp, Esales International
17) Rental yields in rural areas will drop as population density falls
Rental yields in rural Emilia-Romagna are dropping as fewer people choose to live there.
Many are leaving these areas for cities, drawn by better job prospects and more amenities. This shift means fewer families in rural communities, leading to lower school enrollments and less demand for rental homes.
Public transport cuts in these less populated areas make it even harder for people to consider staying. With fewer buses and trains, getting around becomes a hassle, pushing potential residents away.
Local businesses are closing, and amenities are disappearing, which lowers the quality of life. This lack of economic opportunity is a big reason why people are moving out. Younger folks especially prefer the buzz of city life, leaving rural areas with fewer tenants.
As these trends continue, rural areas face a tough challenge in attracting new residents. The combination of fewer services and opportunities makes it hard to compete with urban centers. Rental yields are likely to keep falling as a result.
Sources: Wikipedia, Emilia-Romagna Government Report
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.