Buying real estate in Italy?

We've created a guide to help you avoid pitfalls, save time, and make the best long-term investment possible.

Best areas to buy and invest in property in Florence

Last updated on 

property investment Florence

Yes, the analysis of Florence's property market is included in our pack

The question of 'the best neighborhood to buy a property in Florence' does not have a one-size-fits-all answer.

Some of you are buying to live there, while others want to make the best investment possible. Individual preferences and circumstances matter.

That’s why the article below is covering every intent.

At Investropa, when we write a blog post or when we update our our property pack for Italy, we want to bring solutions and cover different aims in a clear and organized way.

Enjoy the read, and please remember that we are not financial or investment experts. This article is for informational purposes only.

To improve the readability and user-friendliness of this article, we will categorize neighborhoods in Florence into various groups, including budget-friendly options, emerging hotspots, and areas with high rental demand, among others. Consequently, some neighborhoods may appear in multiple categories and be mentioned several times throughout the article.

Make a profitable investment in Florence

Better information leads to better decisions. Save time and money. Download our guide.

buying property in Florence

How is the real estate market in Florence?

The real estate market in Florence is as captivating as the city itself.

Florence, a jewel in the heart of Italy's Tuscany region, offers a unique blend of historical, cultural, and architectural wonders that are unparalleled. This richness is a key strength driving the city's property market.

One of the most striking features of Florence is its Renaissance art and architecture. It's home to some of the world's most renowned artworks and buildings.

Imagine owning a property near the Duomo, a masterpiece of engineering and design, or within walking distance of the Uffizi Gallery, housing priceless works by the likes of Botticelli and Michelangelo.

This proximity to living history is something you won’t find elsewhere, making properties here not just homes but gateways to a rich cultural past.

People are drawn to buy in Florence for various reasons.

There's a mix of art lovers, history enthusiasts, and those seeking the quintessential Italian lifestyle. The city's world-class cuisine, vibrant street life, and scenic beauty add to its allure.

The strength of Florence’s real estate market is evidenced by its dynamic nature. For instance, the city has seen a consistent increase in property values over the years, reflecting the enduring appeal of this historical gem.

A unique aspect of Florentine properties is their historical value. Many homes and apartments in Florence are centuries-old, featuring original architecture and art, something almost unheard of in other cities. Living in such a property is like owning a piece of history.

Looking forward, there are several reasons why properties in Florence are expected to continue gaining value.

The city's ongoing commitment to preserving its cultural and architectural heritage ensures that its unique character is maintained, increasing its appeal.

Additionally, Florence's reputation as a tourist haven and a center for art and culture continues to attract foreign investors, particularly those who value the blend of history, art, and modern amenities that the city offers.

Top neighborhoods in Florence to consider for living

Areas in Florence that are budget-friendly

If you're looking to buy property in Florence on a budget, there are a few neighborhoods you might want to consider.

Here is a summary table. Below, we will give more details.

Neighborhood Average Price per Sqm Property Types Resident Demographics Strengths Weaknesses
Isolotto €3,500 Old and New buildings Working-class families, Elderly residents Green spaces, Community feel Lacks historical charm
Rifredi €3,800 Apartments Students, Young professionals, Long-time residents Close to University, Hospitals Industrial feel in parts

Isolotto

Isolotto, located in the western part of Florence, is another budget-friendly option.

Properties in Isolotto are more affordable because it's a more recently developed area, less known to tourists and investors.

This neighborhood has a mix of old and new buildings in Isolotto, with prices averaging €3,500 per square meter. It's inhabited mostly by locals, including working-class families and elderly residents.

Isolotto is appreciated for its green spaces and community feel but lacks the historical charm of central Florence.

Rifredi

Rifredi, situated in the northern part of the city, offers affordability due to its industrial past, which is now transitioning to a more residential and commercial mix.

The area is attracting attention for redevelopment, suggesting potential property value increases. Housing here mainly comprises apartments, with an average price of €3,800 per square meter.

The population is diverse, including students, young professionals, and long-time residents. Rifredi's strengths are its proximity to the University of Florence and hospitals, making it a practical choice.

However, some parts still retain an industrial feel, which might not appeal to everyone.

Don't lose money on your property in Florence

100% of people who have lost money in Italy have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.

invest real estate in Florence

Areas in Florence that are popular and upscale

When looking to buy property in Florence, three neighborhoods stand out as upscale and popular choices. These neighborhoods each have their unique character and draw different types of residents.

Neighborhood Average Price per sqm Resident Profile Strengths Weaknesses
Centro Storico €6,000 - €10,000 Wealthy locals/international buyers Historical landmarks, high-end shops Tourist crowds, limited parking
Oltrarno €5,000 - €8,000 Artists, young professionals, expats Local life, art scene Gentrification, crowdedness
Campo di Marte €4,000 - €7,000 Local families, professionals Sports facilities, parks Far from center, less historical

Centro Storico

This is the heart of Florence, where the city's history and culture are most evident.

Properties in Centro Storico are definitely expensive, typically ranging from €6,000 to €10,000 per sqm. You're looking at classic Italian architecture in Centro Storico, with many properties being part of historic buildings.

The area attracts a mix of wealthy locals and international buyers. Its strengths lie in its proximity to Florence's iconic landmarks, high-end shopping, and exquisite dining options.

However, the downside is the constant tourist presence and limited parking. It's expected to remain popular due to its historical significance and charm.

Oltrarno

Known for its artisan workshops and bohemian vibe, Oltrarno is slightly less expensive than Centro Storico, with prices around €5,000 to €8,000 per sqm.

It offers a blend of apartments in historic buildings and more modern housing. The neighborhood has a diverse community, including artists, young professionals, and expats.

The area's appeal is its authenticity, bustling local life, and vibrant art scene.

However, it can get crowded, and some parts are gentrifying rapidly. Its popularity is likely to sustain, as it offers a more local experience compared to the tourist-heavy central areas.

Campo di Marte

This residential area is known for its more spacious properties, including larger apartments and villas.

Prices in Campo di Marte hover around €4,000 to €7,000 per sqm. The residents in Campo di Marte are predominantly local families and professionals. Campo di Marte's strengths include its sports facilities, parks, and quieter streets, making it ideal for those seeking a more relaxed lifestyle.

On the flip side, it's farther from the city center and lacks the historical charm of other neighborhoods.

It's expected to remain popular among those who prioritize space and a more laid-back environment.

Make sure you understand the real estate market in Florence

Don't rush into buying the wrong property in Italy. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

real estate market Florence

Areas in Florence that emerge as new hotspots

Let's explore these emerging neighborhoods in Florence that, according to our local partners and our customers, are getting quite a bit of buzz lately.

Neighborhood Average Price per sqm Resident Profile Strengths Weaknesses
San Frediano €3,500 - €6,000 Young creatives, students Authentic atmosphere, nightlife Gentrification risks
Isolotto €3,000 - €5,000 Young families, professionals Green spaces, community growth Developing identity
Rifredi €2,500 - €4,500 Students, healthcare professionals Youthful energy, infrastructure Lacks traditional charm, peripheral

San Frediano

Initially a working-class neighborhood, San Frediano has evolved into a trendy area popular with young creatives and students.

It's still more affordable than the central neighborhoods, with prices around €3,500 to €6,000 per sqm. The area has gained popularity due to its authentic Florentine atmosphere, vibrant nightlife, and artistic community.

Prices in San Frediano are expected to rise as the neighborhood continues to attract attention for its unique charm and cultural offerings.

The area appeals to a younger crowd and those seeking a lively urban experience. However, the rapid change may lead to gentrification concerns.

Isolotto

This was once a predominantly residential and somewhat mundane area.

Recent years have seen Isolotto become a hotspot for young families and professionals looking for affordable housing, with prices around €3,000 to €5,000 per sqm.

The neighborhood's transformation includes new cafes, shops, and cultural spaces. It's expected that prices will continue to rise as the area develops further.

Isolotto's strengths are its green spaces and growing community amenities. However, it's still developing its identity and lacks the historical appeal of central Florence.

Rifredi

Rifredi is an emerging neighborhood known for its university and medical facilities.

It initially attracted students and healthcare professionals, but now it's gaining broader appeal. Property prices in Rifredi are among the more affordable in Florence, roughly €2,500 to €4,500 per sqm.

Its growing popularity is due to the influx of new businesses and improved transport links. Prices in Rifredi are likely to increase as the area becomes more recognized.

The neighborhood's strengths include its youthful energy and investment in infrastructure, but it lacks the traditional Florentine charm and can feel a bit peripheral.

Make a profitable investment in Florence

Better information leads to better decisions. Save time and money. Download our guide.

buying property in Florence