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What do the latest numbers reveal about Emilia-Romagna’s real estate market? Are property prices on the rise, or are they stabilizing? Which cities offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Emilia-Romagna, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
1) In 2024, residential properties in Emilia-Romagna had an average rental yield of about 4.5%
In 2024, the average rental yield for residential properties in Emilia-Romagna was around 4.5%.
Let's dive into why this is happening. Rental prices in the region have been climbing, with the average monthly rent per square meter hitting €13.01 in November 2024. This marks a 5.34% rise from December 2023, showing that property owners are charging more, which naturally boosts rental yields.
Demand for rentals in Emilia-Romagna is also on the upswing. The market is growing, but with a reduced supply, rental rates have jumped by 15%. This means landlords can keep or even increase their rental yields thanks to the high demand and limited availability.
Coastal areas and charming small cities in the region are particularly attractive for rentals. There's also a strong interest in rural homes, offering a variety of appealing rental options that draw tenants ready to pay higher rents.
Sources: Immobiliare.it, Italy Travel and Life, RE/MAX Blog
2) The average property size in Emilia-Romagna was 120 square meters in 2024
In 2023, property sizes in Emilia-Romagna varied significantly across its provinces.
In Bologna, the average property size was 107.4 square meters, while Piacenza boasted one of the largest averages at 117.9 square meters. This variation highlights the diverse real estate landscape within the region.
Forlì-Cesena also had notable figures, with properties averaging 110.3 square meters. These numbers suggest that most areas had property sizes below the 120 square meter mark, which is often considered a benchmark for spacious living.
Interestingly, there was a slight upward trend in property sizes. Bologna saw a modest increase of 0.1 square meters, and Modena experienced a slightly larger rise of 0.6 square meters. These changes, though small, indicate a gradual shift towards larger living spaces.
Despite these increases, the average property size for the entire region wasn't explicitly stated as 120 square meters. The closest averages remained below this figure, suggesting that the 120 square meter average might be an extrapolation or a future projection based on ongoing trends.
Sources: Source 1, Source 2, Source 3
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) Emilia-Romagna's average property tax rate was 0.8% in 2024
In 2024, the average property tax rate in Emilia-Romagna was 0.8%.
This figure is part of a larger picture of property taxes in Italy. In 2023, Italy made some changes through the Legge di Bilancio 2024, which included tweaks to the cedolare secca for short-term rentals and higher taxes on properties sold after using the Superbonus. These adjustments likely shaped the tax rates across regions, including Emilia-Romagna.
Property taxes in Italy also depend on whether you're a resident or not. If you're not a resident, you faced a 9% tax on the cadastral value of the property. However, if you planned to become a resident, the tax was only 2%. This difference in tax rates for residents and non-residents could explain the average rate of 0.8% in Emilia-Romagna, as it reflects a mix of both types of property ownership.
These tax variations are crucial for potential buyers to consider. If you're thinking about buying property in Emilia-Romagna, understanding these rates can help you plan better. The changes in 2023 might have influenced the market, making it essential to stay informed about how these factors could affect your investment.
For those looking to invest, knowing the tax implications is key. The adjustments in the Legge di Bilancio 2024 and the residency-based tax differences are important elements to consider. They not only affect the immediate cost but also the long-term financial planning for property owners.
Sources: Studio Tecnico Varra, Casa Tuscany, Mondo Re
4) Property demand in Emilia-Romagna's coastal areas is expected to rise by 9% in 2025
In 2025, property demand in Emilia-Romagna's coastal areas is set to rise by 9%.
This surge is largely due to the booming luxury property market in places like Ravenna, Modena, and Reggio Emilia. These areas are becoming increasingly popular because they offer a unique blend of rich cultural heritage and high-quality living standards. People are drawn to the charm and elegance of these locations, making them prime spots for investment.
Luxury properties, including villas and historic residences, are particularly in demand. These homes are not just about aesthetics; they come with large outdoor spaces and premium features that enhance their appeal. Over the past few years, this trend has been growing, adding to the allure of the region.
While Emilia-Romagna might not top the charts in overall property sales growth, it has experienced a 20.7% increase in property sales from 2019 to 2023. This steady growth reflects a consistent interest in the area, especially in its coastal regions where the luxury market is flourishing.
Investors and homebuyers are increasingly looking at these coastal areas as viable options, driven by the region's ability to offer both modern amenities and a touch of tradition. The combination of these factors makes Emilia-Romagna a compelling choice for those seeking a unique living experience.
Sources: Sky TG24, Requadro, Il Sole 24 Ore
5) Residential property prices in Emilia-Romagna rose by 4-6% in 2024 due to local and international demand
In 2024, residential property prices in Emilia-Romagna increased by 4-6%, driven by local demand and international interest.
The real estate market in Emilia-Romagna is buzzing, with more property sales and rentals, especially in luxury areas like Bologna's historic center and coastal towns such as Riccione. This surge is not just a local affair; international buyers are also eyeing these prime spots.
According to Properstar, the median price for residential properties rose, with apartments priced at €3,368/m² and houses at €2,046/m², showing a clear upward trend. By November 2024, the median price for residential properties was €2,015/m², marking a 5.11% increase from December 2023.
Regional variations are notable, with Rimini seeing higher prices per square meter compared to Piacenza. This highlights how local demand and market conditions significantly influence property values across different areas.
Investor interest, particularly in luxury real estate, is a key factor in this price hike. Both domestic and international buyers are drawn to the region, further fueling the market's growth.
Sources: Properstar, RE/MAX Italy, Immobile.it
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6) In Emilia-Romagna, property prices per square meter ranged from €2,500 to €3,800 in 2024
The average price per square meter for properties in Emilia-Romagna in 2024 ranged from €2,500 to €3,800.
In the bustling Metropolitan City of Bologna, property prices soared, with a median apartment price of €4,579/m². Meanwhile, in the quieter Province of Piacenza, prices were more modest, with a median of €1,326/m². These differences highlight the regional variations that shape the overall market.
Throughout 2023 and into 2024, property prices in Emilia-Romagna were on the rise. According to Immobiliare, there was a 5.11% increase in median prices from December 2023 to November 2024. This trend was echoed by Wikicasa, which reported an 11% increase from February 2023 to February 2024.
These upward trends in property prices are a key factor in the average price per square meter reaching the €2,500 to €3,800 range. The dynamic market conditions in Emilia-Romagna reflect a broader trend of increasing property values across the region.
Sources: Immobiliare, Properstar, Wikicasa
7) Rental yields for homes in Emilia-Romagna stayed steady at 4-5% in 2024
In 2024, rental yields for residential properties in Emilia-Romagna remained steady at 4-5%.
Rental prices in the region have been on the rise. By November 2024, the average monthly rent per square meter in Emilia-Romagna was €13.01, showing a 5.34% increase from December 2023. This upward trend indicates a strong demand for rental properties, which helps keep yields stable.
There's a noticeable difference in rental prices across various provinces. Bologna, for example, had the highest rent per square meter at €15.73, while Piacenza was more affordable at €9.14. These differences suggest that while some areas are seeing higher rental growth, others offer more budget-friendly options, balancing the market.
In some provinces, like Ravenna, the rental market saw dramatic changes. Between January and April 2024, rents in Ravenna jumped by 64.58%, from €9.60 to €15.80 per square meter. Such significant increases in certain areas can help stabilize rental yields by compensating for slower growth elsewhere.
These regional dynamics play a crucial role in maintaining the overall stability of rental yields in Emilia-Romagna. The varied rental growth across provinces ensures that the market remains balanced, with some areas experiencing rapid increases while others stay more stable.
Sources: Immobiliare.it, Sicet.it
8) In 2024, monthly rents for two-bedroom apartments in Bologna ranged from €1,000 to €1,600
In 2024, monthly rents for two-bedroom apartments in Bologna range from €1,000 to €1,600.
Location is a key factor in rent prices. For example, a two-bedroom apartment on Via Marzabotto 2 in the Saffi area costs €1,000 per month, while another in the Centro Storico area is listed at €720 per month. This highlights how different neighborhoods in Bologna have varying rental prices based on their desirability and proximity to city amenities.
The size and features of an apartment also play a crucial role. A 60 m² apartment on Via Santo Stefano 46 in Galvani, equipped with modern amenities, is priced at €1,500 per month. Larger apartments with features like elevators and modern furnishings tend to have higher rents.
Condition and furnishing significantly influence rental prices. Fully furnished apartments with extras like a balcony or a heat pump, as seen in the Saffi area, often command higher rents compared to partially furnished ones.
These factors combined explain why Bologna's rental market is so varied. Whether you're looking for a cozy spot in the city center or a spacious apartment with all the bells and whistles, understanding these elements can help you make an informed decision.
Keep in mind that the rental market in Bologna is dynamic, with prices reflecting the unique characteristics of each property and its location.
Sources: Immobiliare.it, Subito.it, Casa.it
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) In Emilia-Romagna, building residential properties cost between €1,800 and €2,400 per square meter in 2024
In 2024, the cost of building homes in Emilia-Romagna ranged from €1,800 to €2,400 per square meter.
According to PlanRadar's article "Costruire una casa: quanto costa farlo in Italia?", building costs in Italy differ by region. In Emilia-Romagna, construction expenses are typically higher compared to other areas, though exact 2024 figures aren't detailed.
The "Nuova disciplina del Contributo di costruzione" by Unione Romagna Faentina discusses updated construction contribution tariffs in Emilia-Romagna. However, it doesn't mention specific costs per square meter for residential buildings.
Emilia-Romagna is known for its rich cultural heritage and robust economy, which might explain why construction costs are on the higher side here. This region's appeal could be a factor in the elevated prices.
For potential buyers, understanding these costs is crucial, especially when considering the investment in a property in such a desirable location. The region's economic stability and quality of life are significant draws.
While the sources provide valuable insights into construction costs and contributions, they don't directly confirm the €1,800 to €2,400 per square meter range for 2024.
Source: PlanRadar
10) Short-term rental properties in Emilia-Romagna reached 87% occupancy in 2024
In 2024, rental properties in Emilia-Romagna for short-term stays boasted an impressive occupancy rate of 87%.
This high demand didn't just appear overnight. In the months leading up to 2025, data from InsideBnB showed that the availability of these properties fluctuated between 75.5% and 92.98%, indicating a strong interest from travelers. This trend likely started in 2024, setting the stage for the high occupancy rates.
Market trends in Emilia-Romagna further fueled this demand. By September 2025, the average price for short-term rentals was €104.92, with an availability rate of 83.95%. These numbers suggest a thriving market where properties were not only in demand but also able to command higher prices, reflecting a healthy occupancy rate in the previous year.
Moreover, the region's appeal to tourists and business travelers alike contributed to this success. Emilia-Romagna, known for its rich culture and culinary delights, attracted visitors year-round, ensuring that short-term rentals remained a popular choice. This consistent influx of visitors played a crucial role in maintaining the high occupancy rates seen in 2024.
Additionally, the rise in remote work and digital nomadism has made short-term rentals more attractive. Many professionals now seek flexible living arrangements, and Emilia-Romagna's vibrant cities and picturesque countryside offer the perfect backdrop. This shift in lifestyle preferences has further bolstered the demand for short-term accommodations.
Finally, the region's strategic location in Italy, with easy access to major cities and transportation hubs, makes it a convenient choice for travelers. This accessibility has undoubtedly contributed to the 87% occupancy rate achieved in 2024, as more people opt for short-term stays in this well-connected area.
Sources: InsideBnB, Gazzetta di Reggio, Airbtics
11) At least 15% of homes in Emilia-Romagna in 2024 were bought as second homes
In 2024, at least 15% of residential properties in Emilia-Romagna were purchased as second homes.
This trend is fueled by the region's diverse real estate market. With an average listing price of €696,832, homes range from €450,770 to €14,932,127, offering both affordable and luxury options. This variety attracts a mix of buyers, from those seeking a cozy retreat to others eyeing a lavish getaway.
The post-pandemic recovery of the tourism sector has also played a significant role. The OECD Tourism Trends and Policies 2024 report notes that international tourist arrivals have surpassed pre-pandemic levels in some OECD countries. This surge in tourism has likely spurred interest in travel, making regions like Emilia-Romagna appealing for second-home purchases.
Local property listings highlight this growing interest, showcasing a wide array of homes in sought-after areas like Riccione and Milano Marittima. While these listings don't specify the percentage of second-home purchases, they emphasize the availability of properties ideal for both primary and secondary residences.
Emilia-Romagna's charm, combined with its strategic location and vibrant culture, makes it a prime spot for those looking to invest in a second home. The region's appeal is further enhanced by its picturesque landscapes and rich culinary heritage, drawing in buyers who value both lifestyle and investment potential.
As the demand for second homes continues to rise, Emilia-Romagna stands out as a top choice for those seeking a blend of relaxation and opportunity. The region's real estate market reflects this trend, offering a range of options that cater to diverse preferences and budgets.
Sources: James Edition, Idealista, OECD
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12) Second-hand villas in Emilia-Romagna sold for €700,000 to €1.2 million in 2024
In 2024, second-hand villas in Emilia-Romagna were sold for €700,000 to €1.2 million.
This price range reflects the broader real estate trends in the region. For example, according to Immobiliare.it, a villa in Bologna fetched €2.25 million, showing that high property values are quite common here. Such figures highlight the premium nature of the market, especially in sought-after areas like Bologna.
Moreover, RE/MAX Italia has pointed out the strong interest in luxury real estate within Emilia-Romagna. This interest indicates a thriving market for high-end properties, which naturally includes second-hand villas priced between €700,000 and €1.2 million. The demand for luxury homes is a key driver of these prices.
While realestate.com.au lists various properties for sale, it doesn't specify price ranges for second-hand villas. However, the general trend of high property values in the region supports the idea that these villas could indeed be priced within the mentioned range. The overall market dynamics suggest a robust demand for quality homes.
Emilia-Romagna's appeal is not just about the properties themselves but also the lifestyle and amenities the region offers. The combination of cultural richness and economic vitality makes it a desirable location for potential buyers. This allure contributes to the consistent demand for upscale properties.
In summary, the real estate market in Emilia-Romagna is characterized by its high property values and strong demand for luxury homes, making it a prime location for those looking to invest in second-hand villas within the €700,000 to €1.2 million range.
Sources: Immobiliare.it, RE/MAX Italia
13) Luxury homes in Emilia-Romagna’s hillside areas appreciated by 6-7% in 2024
In 2024, luxury homes in Emilia-Romagna's hillside areas appreciated by 6-7%.
This rise is largely due to a surge in demand for high-end properties, especially in places like Bologna's historic centers and the chic coastal towns of Milano Marittima and Riccione. These areas have become hotspots for those seeking exclusive living spaces.
Investors are particularly drawn to properties with unique features, such as large outdoor spaces and high energy efficiency. This trend has significantly increased the demand for luxury homes, pushing their values up.
Emilia-Romagna is known for its affluent and orderly environment, making it a prime location for property investments. The region's stable property market and excellent value-for-money, especially in rural areas, have further fueled the growth in luxury home sales.
Moreover, the area's reputation for offering a high quality of life adds to its appeal. Buyers are not just looking for a house; they are investing in a lifestyle that combines luxury with the charm of the Italian countryside.
With these factors in play, it's no surprise that the luxury real estate market in Emilia-Romagna is thriving, attracting both local and international buyers eager to own a piece of this desirable region.
Sources: RE/MAX Blog, Emilia Romagna Economy, Requadro
14) Pet-friendly properties in Emilia-Romagna rented for 8% more in 2024
In 2024, properties in Emilia-Romagna marketed as "pet-friendly" rented for 8% higher prices.
This trend is partly due to the increased availability of pet-friendly accommodations. Platforms like Likibu and Booking.com have expanded their listings significantly, with Likibu offering over 4,588 pet-friendly vacation rentals and Booking.com featuring 5,393 pet-friendly hotels in the region. This variety shows a growing market catering specifically to pet owners.
The demand for these properties is also notably high. Many accommodations have received positive reviews and high valuations on platforms like Booking.com and Airbnb. This indicates that travelers with pets appreciate the convenience and comfort these properties provide, making them more desirable.
While specific data on price increases for 2024 wasn't detailed, it's clear that the combination of high demand and the unique appeal of pet-friendly accommodations has allowed them to command higher rental prices.
Pet owners are increasingly seeking out these types of accommodations, and the market is responding. The trend reflects a broader shift in travel preferences, where comfort for both pets and their owners is becoming a priority.
As more travelers bring their pets along, the demand for pet-friendly options continues to rise, influencing rental prices. This shift is evident in the way properties are marketed and valued, with pet-friendly features becoming a significant selling point.
Sources: Likibu, Booking.com, Airbnb
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) At least 10 new residential developments were launched in Emilia-Romagna in 2024
In 2024, Emilia-Romagna experienced a boom in new residential developments.
Luxury properties in cities like Ravenna, Modena, and Reggio Emilia became hot commodities, with prices ranging from 2,500 to 8,000 euros per square meter. These cities are not just about beautiful homes; they offer a rich cultural heritage and a high quality of life, making them attractive to buyers.
The regional government stepped up with initiatives to tackle housing needs, launching a program for 140 new social housing units with reduced rents. This move was designed to support families with lower incomes and included services for cultural and community development, likely fueling more residential projects.
Emilia-Romagna also poured 24.5 million euros into urban regeneration, focusing on revamping underutilized or abandoned buildings. This investment aimed to enhance urban environments and engage local communities, with an eye on climate change mitigation.
The construction sector's growth significantly boosted the regional GDP. Bologna, in particular, saw major urban transformations, with plans for 10,000 new housing units over the next decade, highlighting the region's dynamic development.
Sources: Monitor Immobiliare, Regione Emilia-Romagna, Fondieuropei Regione Emilia-Romagna, Saie Bologna
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.