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What is happening in Emilia-Romagna’s real estate market? Are prices going up or down? Is Bologna still a hotspot for foreign investors? How is Italy’s government impacting real estate policies and taxes in 2025?
These are the questions everyone is asking us every day—professionals, buyers, and sellers alike, from Rimini to Modena and beyond. Perhaps you’re wondering the same thing.
We know this because we stay deeply connected with local professionals and people like you, diving into the Emilia-Romagna real estate market every single day. That’s why we created this article: to provide clear answers, insightful analysis, and a well-rounded perspective on market trends and dynamics.
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) Foreign investors will increasingly buy properties in Emilia-Romagna for short-term rentals
Emilia-Romagna is quickly becoming a hotspot for foreign investors interested in short-term rental properties.
Thanks to its booming tourism industry, the region saw 61.8 million overnight stays in 2023, even surpassing pre-pandemic numbers. The first quarter of 2024 showed no signs of slowing down, with a 9.3% increase in arrivals and a 9.9% rise in presences compared to the previous year.
Emilia-Romagna's rich cultural and culinary scene is a major draw. Known for its UNESCO World Heritage sites and iconic dishes, the region attracts food lovers and tourists all year. The Riviera, a popular area, experienced a 25.1% increase in overall presences and a 26.5% boost in arrivals in 2023, underscoring the demand for short-term rentals.
Property prices here are more favorable than in other Italian regions, making it an attractive option for foreign investors. Between Bologna and Modena, you can find luxury renovated properties perfect for B&Bs and Airbnbs. This affordability, coupled with the region's growing appeal, makes it a tempting choice for international buyers.
Emilia-Romagna is also enhancing its regional airport system to improve connections with key markets like Germany. This improved connectivity is expected to draw more tourists and, in turn, more foreign investors interested in short-term rental properties.
Sources: Aviation Week, Luxury Real Estate, La Milano
2) Property prices in rural Emilia-Romagna may dip slightly as urbanization trends persist
Urban areas in Emilia-Romagna are growing as more people choose city life over the countryside.
Take Bologna, for example, where the population has jumped from 930,284 in 1991 to 1,018,346 in 2024. This trend shows a clear preference for urban living, which might mean fewer people and lower property values in rural spots.
In places like Ferrara, the population has dropped from 381,118 in 1981 to 339,750 in 2024. This decline suggests that rural areas are losing their charm, and as fewer people want to live there, property prices could take a hit.
Emilia-Romagna is also pouring resources into urban infrastructure. They're upgrading the regional airport system to better connect with major markets, which could make city life even more attractive and draw people away from rural areas.
With these changes, it's no surprise that some rural areas might see a slight dip in property prices. As cities become more appealing, the demand for rural properties could wane, leading to a potential decrease in value.
So, if you're thinking about buying property in the countryside, keep an eye on these trends. The shift towards urban living is real, and it might just affect the rural market in Emilia-Romagna.
Sources: City Population, URBACT, Immobiliare.it
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 property prices will rise moderately due to limited supply in popular areas
In Emilia-Romagna, residential property prices are set to rise moderately due to a limited supply in popular areas.
Over the past few years, the region has seen fewer new construction projects, especially in sought-after locations. Take the Molino Poiano complex in Imola, for instance; it's undergoing a transformation, but the changes are controlled, meaning new housing options are scarce.
Demand for homes here is climbing, fueled by both local and international buyers. This is evident in the rental market, where prices are rising. As of November 2024, the average rental price hit €13.01 per square meter, up 5.34% from December 2023.
Real estate agencies are noting low inventory levels in these popular spots, underscoring the limited supply. In November 2024, the average asking price for homes was €2,015 per square meter, marking a 5.11% increase from December 2023.
These tight market conditions suggest that the supply of properties isn't keeping pace with demand, making it a competitive market for buyers. If you're considering buying in Emilia-Romagna, be prepared for a market where properties are in high demand and prices are on the rise.
Sources: Immobiliare.it, Invest in Emilia-Romagna
4) Bologna's rental yields will rise with growing demand for student housing
Rental yields in Bologna are on the rise as more students flock to the city.
The University of Bologna is seeing a surge in enrollment, with 96,984 students in the 2022/23 academic year, including many from abroad. This influx is naturally pushing up the demand for housing. As students pour in, the city is feeling the squeeze, especially in popular neighborhoods.
Reports highlight a shortage of student housing in Bologna, which is only adding fuel to the fire. With more students than available rooms, rental prices are climbing, especially in central areas. In October 2024, rents in these hotspots were already above the city average, showing just how sought-after these locations are.
The University isn't just sitting still; it's expanding its offerings. With 260 degree programs available in the 2023/24 academic year, Bologna is cementing its status as a top student destination. This expansion is a magnet for even more students, further driving up the need for housing.
Bologna's charm as a student city is undeniable, and this reputation is a key factor in the growing demand for accommodation. As the city continues to attract students from all over, landlords are likely to see higher rental yields.
For those considering investing in Bologna's property market, the combination of a growing student population and limited housing supply makes it a promising opportunity. With the university's ongoing expansion and the city's appeal, rental yields are poised to increase.
Sources: University of Bologna, Statista, Times Higher Education
5) Emilia-Romagna will see more Asian buyers seeking investment opportunities
Emilia-Romagna is set to attract more Asian investors looking for real estate opportunities.
Italy's real estate market is booming, with foreign investments expected to exceed €140 billion by 2025. This surge makes Italy a top spot for investors, and Emilia-Romagna is likely to ride this wave.
Asian investors are increasingly eyeing European real estate, despite concerns over rising interest rates. They are particularly drawn to resilient sectors like multifamily housing, which remain appealing to the Asia-Pacific region.
Surveys show that Asian investors are eager to diversify their portfolios with European assets. This trend is a promising sign for regions like Emilia-Romagna, which could see a boost in investment.
Italy is also experiencing a tourism boom from Asia, with over three million Chinese tourists expected in 2023 and 2024. This influx of visitors highlights a strong interest in Italy, which could easily translate into real estate investments.
Emilia-Romagna, with its rich culture and strategic location, stands to benefit from these trends, making it a prime target for Asian investors seeking new opportunities.
Sources: Born2Invest, Savills, CGTN
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6) Property values in towns with high-speed rail connections will rise with expanded rail links
High-speed rail connections are boosting property values in towns they connect.
When a town gets a high-speed rail station, it becomes more accessible and connected, making it a hot spot for homebuyers and investors. Take Reggio Emilia, for instance. After the Reggio Emilia Mediopadana High-Speed Railway Station opened, property prices shot up, especially near the station.
In places like Emilia Romagna, having a high-speed rail link is a game-changer for real estate. The average price for homes there hit a high in October 2024, showing a clear trend: property values rise with high-speed rail access. This isn't just a fluke; history shows that these rail lines can make smaller cities feel closer to big metropolises, driving up housing prices.
Local real estate agents in Emilia Romagna have noticed a 5.11% increase in property prices over the past year. This uptick backs up the idea that high-speed rail connections are a boon for property values. Plus, media often paints these towns as desirable places to live, which only adds to the demand for homes.
Sources: FS Italiane Study on High-Speed Rail Station Impact on House Prices, Emilia Romagna Real Estate Market Trends
7) Emilia-Romagna's wine regions will attract more foreign buyers
Foreign buyers are increasingly eyeing Emilia-Romagna's wine regions for property investments.
In 2024, over 12% of Italy's residential property sales involved international buyers, and this trend is set to grow in 2025. This surge in interest is not just about Italy's charm; it's about the unique appeal of regions like Emilia-Romagna, known for its rich wine culture.
Emilia-Romagna is not just about wine; it's about the experience. Wine tourism here is booming, with projections showing a significant rise in wine exports. This makes the region a magnet for those looking to invest in a lifestyle, not just a property.
The global wine tourism market is on the rise, and Emilia-Romagna stands to benefit greatly. This isn't just about tasting wine; it's about being part of a growing community that values tradition and quality.
Italy's real estate market is thriving, with residential transactions expected to jump by 8% by 2025. This growth is likely to attract more foreign capital, especially in wine-rich areas like Emilia-Romagna, where culture and investment potential meet.
Italy's allure goes beyond its picturesque landscapes. The country's culture and lifestyle make it a top choice for property investment, and Emilia-Romagna, with its wine heritage, is at the forefront of this trend.
Sources: Rome Business School, Market.us, Global Property Guide
8) Rental yields in Emilia-Romagna's urban areas will remain stable with steady demand from young professionals
Urban areas in Emilia-Romagna are seeing stable rental yields thanks to a steady influx of young professionals.
In recent years, especially in 2023 and 2024, cities like Bologna and Modena have become employment hotspots. This surge in job opportunities is attracting young professionals eager to work in these vibrant urban centers.
But it's not just about jobs. Young professionals are drawn to the quality of life in these cities, with their lively social scenes, rich cultural activities, and the convenience of city living. This lifestyle preference naturally boosts demand for rental properties in city centers.
The rental market in Emilia-Romagna is holding strong, with prices either stable or on the rise. For example, in November 2024, the average rental price hit €13.01 per square meter, up 5.34% from December 2023. This price stability highlights the ongoing demand from young professionals flocking to these urban areas.
In Bologna, the mix of historic charm and modern amenities makes it a top choice for young renters. Modena, known for its culinary delights and automotive industry, also attracts a dynamic crowd. These cities offer a blend of work opportunities and lifestyle perks that are hard to resist.
With a consistent demand from young professionals, rental yields in Emilia-Romagna's urban areas remain stable, making it an attractive option for property investors.
Source: Immobiliare.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) Multi-generational living arrangements will become more popular in Emilia-Romagna
In Emilia-Romagna, multi-generational living is becoming increasingly popular.
This trend is partly due to Italy's aging population, with 24% of Italians aged 65 and over in 2023. As people live longer, the average age is expected to hit 46.6 years by 2024, making it clear why many families are choosing to live together. It's not just about numbers; it's about creating supportive environments where younger and older generations can thrive together.
Property prices are another big reason for this shift. With costs rising, it's tough for young people to buy homes on their own. By living with family, they can share expenses and support each other. In Italy, where family ties are strong, this setup feels natural and beneficial for everyone involved.
Then there's the cost of elder care facilities, which can be quite high. Multi-generational homes offer a more affordable solution, allowing families to care for their elderly members at home. This way, seniors get the care and companionship they need without the hefty price tag.
New housing developments are catching on to this trend, designing spaces that cater to families of all ages. These homes are built with features that make life easier for everyone, from young kids to grandparents, making them a smart choice for modern families.
In Emilia-Romagna, this way of living is not just a trend; it's a practical response to economic and social changes, offering a way to keep families close and supportive.
Sources: Statista, Marketplace, Pew Research
10) Buyers seeking sustainable living will increasingly be drawn to the Emilia-Romagna countryside
The Emilia-Romagna countryside is quickly becoming a go-to spot for those interested in sustainable living.
In recent years, there's been a noticeable uptick in demand for eco-friendly homes across Italy, largely thanks to government incentives like the "Superbonus" scheme. This initiative, which kicked off in 2020, has motivated many homeowners to turn their residences into eco-friendly spaces, sparking a significant interest in sustainable living. In Emilia-Romagna, the availability of sustainable building materials and technologies is on the rise. Eco-villages such as San Rocco Community and Corte del Vento are using natural materials like wood, straw, and clay, showcasing the region's commitment to sustainable construction.
This makes the area particularly appealing to those looking to build or buy homes with a smaller environmental footprint. Moreover, the region has a strong tradition of organic farming and local food production. For instance, the Villaggio della Salute Più farm has been practicing organic farming since 1998, promoting sustainable agriculture and offering organic meat products. This focus on organic and local food production aligns with the values of many potential buyers seeking a sustainable lifestyle.
Consumer preferences are also shifting towards sustainability. A survey conducted in 2024 revealed that a significant portion of Italians, about 56%, considered environmental awareness when choosing accommodations. This growing interest in eco-friendly living options suggests that more people are likely to be drawn to rural areas like Emilia-Romagna, where sustainable practices are more prevalent.
Sources: Euronews, Villaggio della Salute Più, Ecovillaggi, Statista
11) Rural properties in Emilia-Romagna will see slightly higher yields with the rise of eco-tourism popularity
Eco-tourism is booming in Italy, drawing in millions of visitors each year.
In 2023, Italy welcomed 60.9 million tourists, many of whom were eager to explore sustainable travel options. This surge in eco-conscious visitors is a clear sign that the trend is here to stay, and it's reshaping the travel landscape.
Emilia-Romagna, with its breathtaking scenery and deep-rooted history, is perfectly poised to ride this eco-tourism wave. While we don't have exact numbers for the region, the overall boost in Italian tourism hints that rural stays in Emilia-Romagna are likely to become more popular. The region's push for sustainable tourism, including efforts to go carbon neutral and enhance its natural beauty, makes it an attractive destination for eco-minded travelers.
Rural properties in Emilia-Romagna are increasingly earning eco-friendly certifications like Protocollo ITACA, ensuring they meet energy-saving and green standards. This is a big draw for eco-tourists who care about sustainability. Plus, the Italian government is backing this movement with a sustainable tourism fund, injecting 25 million euros annually from 2024 to 2025, which is set to boost eco-tourism and benefit rural areas economically.
As eco-tourism gains momentum, rural properties in Emilia-Romagna are expected to see a slight increase in yields. This is largely due to the growing number of travelers seeking authentic, sustainable experiences in the countryside.
With these developments, investing in a rural property in Emilia-Romagna could be a smart move, as the region is becoming a hotspot for eco-tourism enthusiasts looking for unique and sustainable travel experiences.
Sources: 2meet2biz, All Roads Lead to Italy, Regione Emilia-Romagna
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12) Ferrara’s property demand will rise with the expanding university and growing student population
Ferrara is buzzing with property demand thanks to its thriving university scene.
The University of Ferrara is a magnet for students, with enrollment numbers soaring between 20,000 and 24,999. This influx includes many international students, adding a vibrant mix to the city. As more students flock to Ferrara, the need for housing is skyrocketing, pushing rental prices up. Rooms now start at €230 and average around €310, reflecting the intense competition for affordable spots.
With the university's growth, student housing is in high demand. The city is feeling the pressure to provide accommodations that are both affordable and conveniently located. This demand is reshaping the housing market, making it a hot spot for investors and developers.
Ferrara is not just about numbers; it's about lifestyle. The city is enhancing its appeal with new amenities and services tailored for students. Modern student houses and common areas are popping up, making Ferrara a top choice for those seeking a lively student life. The Student House Ferrara project is a prime example of how the university and real estate developers are teaming up to meet these needs.
These developments are not just about housing; they are about creating a community. The collaboration between the university and developers is a strategic move to ensure that the growing student population has everything they need. This partnership is a win-win, boosting the city's attractiveness and supporting its economic growth.
For anyone considering buying property in Ferrara, the expanding university and student population are key factors driving demand. The city's commitment to accommodating this growth makes it an exciting place to invest. Ferrara's future looks bright as it continues to evolve into a dynamic student hub.
Sources: Edurank, Mamacrowd, Erasmus Play
13) Demand for properties with home office spaces will increase in Emilia-Romagna
Emilia-Romagna is becoming a hotspot for remote work, thanks to its top-notch communication infrastructure.
With more Italians embracing remote work, there's a growing demand for homes that cater to this lifestyle. In Emilia-Romagna, real estate listings now often highlight home office spaces as a key feature, showing how important a dedicated workspace has become.
Architectural designs are evolving too, with a focus on multifunctional spaces that offer flexibility. This shift aligns perfectly with the needs of remote workers who want a seamless blend of home and office.
Interestingly, the sales of home office furniture and equipment are on the rise across Italy, hinting at a similar trend in Emilia-Romagna. This suggests that people are investing in creating comfortable work environments at home.
Both buyers and sellers in the region are recognizing the value of properties with dedicated workspaces. This is evident in the way home office features are being marketed as essential, not optional.
As remote work becomes more entrenched, the demand for properties with home office spaces in Emilia-Romagna is expected to grow, making it a prime area for real estate investment.
Sources: Statista, LSE, LiquidSpace, NAIOP
14) Rental yields in Emilia-Romagna's coastal towns will decline due to seasonal fluctuations
Coastal towns in Emilia-Romagna are seeing big swings in tourism throughout the year.
In the summer of 2023, these towns experienced a 26.5% jump in tourist arrivals and a 25% increase in overnight stays compared to the previous year. This shows that tourism really peaks during the summer months, drawing in crowds eager for sun and sea.
But here's the catch: this boom doesn't last all year. When summer ends, the number of visitors drops, leading to lower occupancy rates and rental yields during the off-peak months. This means that if you're thinking of buying a rental property here, you might not see consistent income throughout the year.
Places like Rimini are trying to shake things up by offering more than just summer attractions. They're working hard to keep tourists coming even when the beaches are less inviting. This effort shows they know they need to tackle the seasonal dips that affect rental income.
For potential property buyers, it's crucial to understand that while summer can be lucrative, the rest of the year might not be as profitable. The seasonal nature of tourism in these coastal towns means that rental properties might not always be a steady source of income.
So, if you're eyeing a property in Emilia-Romagna's coastal areas, keep in mind the seasonal challenges and plan accordingly. The charm of these towns is undeniable, but the financial returns might fluctuate with the seasons.
Sources: La Milano, Re-Value Cities
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.