Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Florence's property market is included in our pack
If you're thinking about buying an apartment in Florence in 2026, this guide will give you a clear picture of what things really cost, from purchase prices to monthly expenses.
We've gathered current data from Italian property portals, official government sources, and local tax authorities to give you numbers you can actually rely on.
We constantly update this blog post to keep the information fresh and accurate for buyers like you.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Florence.
Insights
- The price gap between Florence's cheapest and priciest neighborhoods is roughly €3,200 per square meter, which means your choice of area matters more than almost any other factor when buying.
- Foreign buyers in Florence typically need a 30% to 40% down payment because Italian banks are cautious about lending when income documentation comes from abroad.
- If you don't qualify for "prima casa" tax benefits (common for non-residents), expect your closing costs to jump from around 8% to potentially 15% of the purchase price.
- New-build apartments in Florence command a 10% to 25% premium over resale properties, partly because the city has very limited new construction supply.
- Florence apartment prices rose about 8.5% year-over-year through late 2025, making it one of the stronger-performing Italian cities for property values.
- Property tax (IMU) can be zero for primary residences in Florence, but most foreign buyers won't qualify for this exemption right away, so budget €800 to €2,500 yearly.
- HOA fees in Florence older buildings with elevators and concierge services can reach €200 to €400 monthly, significantly higher than basic buildings at €70 to €100.
- The Michelangelo and Porta Romana areas top Florence's price rankings at around €6,600 per square meter, nearly double what you'd pay in Ugnano or Mantignano.
How much do apartments really cost in Florence in 2026?
What's the average and median apartment price in Florence in 2026?
As of January 2026, the average asking price for apartments in Florence is approximately €4,700 per square meter ($5,450 or €4,700), while the median sits slightly lower at around €4,500 per square meter ($5,220 or €4,500) because high-end areas like Centro and Oltrarno pull the average upward.
When you translate those figures into price per square foot, you're looking at roughly €437 per square foot ($507) on average across the city, though this varies significantly by neighborhood.
For a typical Florence apartment of 60 to 75 square meters, you should expect to pay somewhere between €280,000 and €360,000 ($325,000 to $418,000) before any fees or closing costs.
How much is a studio apartment in Florence in 2026?
As of January 2026, a typical studio apartment in Florence costs between €130,000 and €190,000 ($151,000 to $220,000), though prices swing considerably based on location and building quality.
Entry-level studios in peripheral areas like Firenze Nord or Ugnano start around €90,000 to €120,000 ($104,000 to $139,000), while high-end studios in Centro or near the Arno can reach €220,000 to €280,000 ($255,000 to $325,000).
Studio apartments in Florence typically measure between 25 and 35 square meters (270 to 375 square feet), which is fairly standard for Italian cities but feels compact by American or Northern European standards.
How much is a one-bedroom apartment in Florence in 2026?
As of January 2026, a typical one-bedroom apartment in Florence costs between €200,000 and €310,000 ($232,000 to $360,000), making it the most common entry point for foreign buyers looking at the Florence market.
Budget-conscious buyers can find one-bedrooms starting around €160,000 ($186,000) in areas like L'Isolotto or Serpiolle, while luxury one-bedrooms in Oltrarno or near Piazza della Signoria can exceed €400,000 ($464,000).
One-bedroom apartments in Florence typically range from 40 to 55 square meters (430 to 590 square feet), often featuring the high ceilings and period details common in the city's historic building stock.
How much is a two-bedroom apartment in Florence in 2026?
As of January 2026, a typical two-bedroom apartment in Florence costs between €310,000 and €480,000 ($360,000 to $557,000), with the wide range reflecting significant differences in building quality, renovation status, and energy ratings.
Entry-level two-bedrooms in neighborhoods like Rifredi or Campo di Marte start around €260,000 ($302,000), while renovated two-bedrooms in prime Centro locations or with Arno views can reach €600,000 to €750,000 ($696,000 to $870,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Florence.
How much is a three-bedroom apartment in Florence in 2026?
As of January 2026, a typical three-bedroom apartment in Florence costs between €430,000 and €700,000 ($499,000 to $812,000), though prestige properties in historic palazzi can exceed €1 million.
More affordable three-bedrooms in outer neighborhoods like Novoli or Le Cure start around €350,000 ($406,000), while luxury three-bedrooms with terraces, views, or premium Centro locations regularly reach €900,000 to €1.2 million ($1.04 million to $1.39 million).
Three-bedroom apartments in Florence typically measure between 90 and 120 square meters (970 to 1,290 square feet), and at this size, factors like elevator access, parking, and outdoor space start to matter much more.
What's the price gap between new and resale apartments in Florence in 2026?
As of January 2026, new-build apartments in Florence typically cost 10% to 25% more than comparable resale properties, with the premium driven by energy efficiency, modern layouts, and the city's very limited new construction supply.
New-build apartments in Florence average around €5,200 to €5,900 per square meter ($6,030 to $6,840), though prime new developments can exceed €7,000 per square meter ($8,120).
Resale apartments across Florence average closer to €4,700 per square meter ($5,450), though well-maintained or recently renovated resale units in good locations can approach new-build pricing.
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Can I afford to buy in Florence in 2026?
What's the typical total budget (all-in) to buy an apartment in Florence in 2026?
As of January 2026, the typical all-in budget to buy a standard apartment in Florence runs between €315,000 and €415,000 ($365,000 to $482,000) for a 2-bedroom, including purchase price plus all closing costs and fees.
Beyond the purchase price, your all-in budget in Florence must cover purchase taxes (either registration tax or VAT depending on seller type), notary fees of €3,000 to €6,000, real estate agency fees of 2% to 4% plus VAT, and potentially mortgage-related costs like bank fees and property valuation.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Florence property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Florence.
What down payment is typical to buy in Florence in 2026?
As of January 2026, foreign buyers purchasing apartments in Florence typically need a down payment of 30% to 40%, which means roughly €105,000 to €140,000 ($122,000 to $162,000) for a €350,000 property.
Italian banks generally require a minimum of 20% down, but foreign buyers with income documented primarily abroad often face stricter requirements because banks view these files as higher risk.
To secure the most favorable mortgage terms in Florence, aiming for a 40% or higher down payment will give you access to better interest rates and smoother approval, especially if your financial documentation isn't entirely Italian.
You can also read our latest update about mortgage and interest rates in Italy.
We made this infographic to show you how property prices in Italy compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Florence in 2026?
How much does the price per m² for apartments vary by neighborhood in Florence in 2026?
As of January 2026, apartment prices in Florence range from approximately €3,400 per square meter ($3,940 or $366 per square foot) in the most affordable areas to roughly €6,600 per square meter ($7,660 or $711 per square foot) in the priciest neighborhoods.
The most affordable neighborhoods for apartments in Florence include Ugnano and Mantignano at around €3,400 per square meter ($3,940), along with areas like Firenze Nord and parts of Rifredi that typically fall 20% to 30% below the city average.
The most expensive neighborhoods for apartments in Florence are Michelangelo and Porta Romana at approximately €6,600 per square meter ($7,660), followed closely by Centro Storico and Oltrarno, where prices regularly exceed €5,500 per square meter ($6,380).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Florence.
What neighborhoods are best for first-time buyers on a budget in Florence in 2026?
As of January 2026, the top three neighborhoods for budget-conscious first-time buyers in Florence are Ugnano-Mantignano, L'Isolotto, and Serpiolle-Careggi, all of which offer prices 15% to 30% below the citywide average.
In these budget-friendly Florence neighborhoods, you can typically find apartments ranging from €170,000 to €280,000 ($197,000 to $325,000) for a one or two-bedroom, compared to €250,000 to €400,000 in more central areas.
These areas offer good public transit connections to central Florence, local shops and services, and quieter residential atmospheres that appeal to young families and first-time buyers looking for more space.
The main trade-off is distance from Florence's historic center, meaning you'll spend 20 to 40 minutes commuting by bus or tram if you work or socialize in Centro, and you'll miss the walkable Renaissance-city lifestyle that draws many people to Florence.
Which neighborhoods have the fastest-rising apartment prices in Florence in 2026?
As of January 2026, the neighborhoods with the fastest-rising apartment prices in Florence are Centro Storico, Oltrarno, and Campo di Marte, all benefiting from strong demand and limited available inventory.
Florence as a whole saw apartment prices rise approximately 8.5% year-over-year through late 2025, and these high-demand central neighborhoods have likely matched or exceeded that pace, though granular neighborhood-level time series are harder to verify independently.
The main driver behind rapid price growth in these Florence neighborhoods is the combination of scarce supply in historic buildings, continued interest from international buyers, and a premium on renovated apartments with good energy ratings.
You can also read our latest update about property price forecasts in Florence.
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What extra costs will I pay on top of the apartment price in Florence in 2026?
What are all the buyer closing costs when you buy an apartment in Florence?
The estimated total buyer closing costs for a typical apartment purchase in Florence range from €21,000 to €52,000 ($24,000 to $60,000) on a €350,000 property, depending heavily on your tax status and whether you use a real estate agent.
The main categories of closing costs in Florence include purchase taxes (registration tax or VAT), notary professional fees and administrative charges, real estate agency commissions, and mortgage-related costs if you're financing the purchase.
The largest closing cost for most Florence apartment buyers is the purchase tax, which can be as low as 2% of cadastral value for qualified "prima casa" buyers or as high as 9% for non-residents buying a second home.
Real estate agency fees in Florence are typically negotiable within a range of 2% to 4% of the purchase price plus VAT, and notary selection can also affect total costs somewhat, though notary fees are partially regulated.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Florence?
The typical percentage of purchase price that buyers should budget for closing costs in Florence is 8% to 12% for most transactions, though this can swing lower or higher based on your specific situation.
The realistic low-to-high range for Florence apartment closing costs runs from about 6% (qualified prima casa buyer with no agent) to 15% or more (non-resident second home buyer with full agency fees and mortgage costs).
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Florence.
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.
What are the ongoing monthly and yearly costs of an apartment in Florence in 2026?
What are typical HOA fees in Florence right now?
HOA fees (called "spese condominiali" in Italy) are very common in Florence, and a typical monthly amount runs between €70 and €200 ($80 to $230) for standard apartment buildings with basic shared services.
The range of HOA fees in Florence stretches from around €50 per month ($60) in simple buildings without elevators or concierge, up to €300 to €400 per month ($350 to $465) in larger buildings with lifts, doorman services, central heating systems, and extensive common areas.
What utilities should I budget monthly in Florence right now?
The estimated total monthly utility cost for a typical 60 to 75 square meter apartment in Florence is between €150 and €300 ($175 to $350), with significant seasonal variation due to heating and cooling needs.
Monthly utility costs in Florence can range from around €100 ($115) in mild months with minimal heating or cooling, up to €350 to €400 ($405 to $465) during cold winter months when gas heating runs heavily.
The typical monthly utility budget in Florence covers electricity, natural gas (for heating and cooking), water, and waste collection (TARI), though some buildings include heating in the HOA fees instead.
Gas or electric heating tends to be the most expensive utility for Florence apartment owners, especially in older buildings without modern insulation, where winter heating bills can easily exceed €150 per month ($175).
How much is property tax on apartments in Florence?
The estimated typical annual property tax (IMU) for an apartment in Florence ranges from €0 for qualifying primary residences up to €800 to €2,500 ($930 to $2,900) for second homes or non-primary residences.
Property tax in Florence is calculated by applying the municipal IMU rate to your property's cadastral value (not market value), which means the actual tax is often lower than you might expect based on purchase price alone.
The realistic range of annual property tax in Florence depends heavily on cadastral classification and whether the apartment qualifies as "abitazione principale" (primary residence), with most foreign buyers initially paying closer to the €1,000 to €2,000 range annually.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Florence.
What's the yearly building maintenance cost in Florence?
The estimated typical yearly building maintenance cost for Florence apartment owners is €800 to €2,500 ($930 to $2,900), though this can spike significantly higher in years when major works are required.
The realistic range of yearly maintenance costs in Florence stretches from around €500 ($580) in newer or recently renovated buildings, up to €3,000 to €5,000+ ($3,480 to $5,800+) per owner in older buildings facing facade restoration, roof repairs, or structural work.
Building maintenance in Florence typically covers elevator servicing, stairwell cleaning, minor repairs, insurance for common areas, and contributions to a reserve fund for future major works.
In most Florence apartment buildings, routine maintenance costs are included in your monthly HOA fees, while extraordinary works (facades, roofs, major systems) are billed separately when needed, often requiring significant one-time payments.
How much does home insurance cost in Florence?
The estimated typical annual home insurance cost for an apartment in Florence is between €180 and €350 ($210 to $405) for basic contents and liability coverage.
The realistic range of annual home insurance costs in Florence runs from around €150 ($175) for minimal coverage, up to €500 to €650 ($580 to $755) for comprehensive policies including fire, earthquake, flood, and higher liability limits.
Home insurance is not legally mandatory for apartment owners in Florence, but it's strongly recommended, and your mortgage lender will typically require at least fire coverage as a condition of the loan.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Florence, we always rely on the strongest methodology we can ... and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why it's authoritative | How we used it |
|---|---|---|
| Immobiliare.it | One of Italy's largest property portals with transparent, time-stamped price data. | We used it as our main Florence price anchor, pulling the December 2025 citywide average and neighborhood breakdown. We also relied on its year-over-year growth figures. |
| idealista | Major European property portal with long-running price time series. | We used it to cross-check price levels against Immobiliare.it. We treated it as an independent benchmark to validate our estimates. |
| Gruppo Tecnocasa | Nationwide brokerage network with a research office publishing market outlooks. | We used it to frame market conditions and the quality premium narrative. We also drew on their commentary about bank lending behavior and new-build premiums. |
| ISTAT | Italy's official statistics institute and the national reference for house price data. | We used it to describe the broader Italian market backdrop. We also referenced their new-vs-existing home dynamics to support the price gap analysis. |
| Agenzia delle Entrate | The Italian tax authority's official buyer guide for property transactions. | We used it as the core source for purchase taxes, registration rules, and prima casa benefits. We translated their rules into practical closing cost estimates. |
| Comune di Firenze (IMU rates) | The official municipal document setting property tax rates in Florence. | We used it to estimate annual IMU for typical apartments. We also explained why IMU can be zero for primary residences but applies to most foreign buyers. |
| MEF (Ministry of Finance) | National finance ministry portal republishing the official IMU rate schedule. | We used it to cross-check Florence IMU rates. We treated it as a second official confirmation of the Comune's published figures. |
| Comune di Firenze (TARI) | The city's official explanation of the waste tax system. | We used it to explain what TARI is and how it's calculated. We then gave typical cost ranges for small households in Florence. |
| ARERA | Italy's energy regulator and the reference body for utility pricing. | We used it to ground utility cost discussions in official rate components. We then translated that into realistic monthly budgets. |
| Publiacqua | The local regulated water utility serving the Florence area. | We used it to anchor water costs in the actual operator's tariffs. We converted typical household consumption into annual bill estimates. |
| Publiacqua (2025 tariff PDF) | The detailed tariff document with specific per-cubic-meter rates. | We used it for concrete water pricing details. We showed what those rates mean for a typical 1-2 person household. |
| Consiglio Nazionale del Notariato | The national notaries' council explaining Italy's buying process. | We used it to frame what the notary does and when to involve one. We also structured the buying steps (offer, preliminare, rogito) based on their guidance. |
| Notaio.org | Centralized directory of citizen guides from the notarial system. | We used it to justify buyer-friendly explanations of condominium ownership. We kept our guidance legally accurate but low cognitive load. |
| Banca d'Italia | The central bank's consumer guide to mortgages in Italy. | We used it to explain mortgage basics in plain language. We translated their guidance into realistic down payment expectations for foreign buyers. |
| ANIA | Main Italian insurance industry association publishing sector-wide statistics. | We used it as a reality check on typical insurance costs. We gave confident annual budget ranges rather than cherry-picking quotes. |
| IVASS | Italy's insurance regulator and authoritative source for market statistics. | We used it to support insurance pricing references. We kept our numbers conservative and labeled as typical budgets. |
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.
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