Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Venice's property market is included in our pack
What do the latest numbers reveal about Venice’s real estate market? Are property prices on the rise, or are they stabilizing? Which areas 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 Venice, 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.
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1) By 2025, the average price per square meter for homes in Venice is about €4,500
In 2025, the average price per square meter for residential properties in Venice is expected to be around €4,500.
Venice has been on an upward trend in property prices for years, and as of October 2024, the average price per square meter was €3,238. This marked a 5.41% increase from December 2023 to November 2024, showing a steady rise in value.
Looking forward, Scenari Immobiliari projects a 6.5% growth rate in property prices for Venice in 2025. This growth is second only to Milan, highlighting a strong demand for properties in the city.
The overall market outlook for Italy in 2025 is positive, with an expected 760,000 transactions, a 5.7% increase from 2024. This suggests a stable and growing market, supporting the trend in Venice.
These factors combined make it plausible for the average price per square meter to reach around €4,500 by 2025. The historical growth rates and positive market outlook provide a reasonable basis for this price level.
Sources: Nuova Venezia, Retecasa, Statista
2) In 2024, property prices in Venice's Dorsoduro district rose by at least 4%
In 2024, property prices in Venice's Dorsoduro district saw an increase of at least 4%.
With an average price of 2655 euros per square meter, Dorsoduro stands out as a premium area compared to the rest of Venice. This higher cost reflects its desirability and exclusivity, making it a sought-after location for potential buyers.
Since March 2022, property prices in Dorsoduro have been on a steady rise, continuing into 2024. This consistent upward trend indicates a strong demand coupled with limited availability, pushing property values higher.
In Dorsoduro, the price varies significantly with property size and condition. For instance, a 50 m² apartment costs around 160,628 euros, while a 90 m² apartment is priced at 236,561 euros. These figures underscore the area's premium status.
Such price differences highlight the importance of property size and condition in determining value, with larger and well-maintained properties commanding higher prices. This variability is a key factor in the overall price increase in the district.
Sources: Immobiliagest, Statista, Mercato Immobiliare
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.
3) Property transactions in Venice increased by 5% in 2024 compared to 2023
In 2024, property transactions in Venice increased by 5% compared to 2023.
This uptick aligns with a broader trend in Italy's property market. According to the Engel & Völkers Market Report, there was a 2.3% rise in property transactions nationwide during the second quarter of 2024 compared to the same period in 2023. This national growth likely contributed to the positive momentum seen in Venice.
Although the report doesn't specifically mention Venice's 5% increase, the growth in the commercial property sector might have played a role in energizing the market. Meanwhile, data from Immobiliare.it shows a steady interest in Venice's real estate, suggesting that residential property prices remained stable, which could have encouraged more transactions.
Interestingly, Istat reported a slight dip in the property price index during the first quarter of 2024. This decrease might have made properties more appealing to buyers, potentially leading to an increase in transactions. These elements together paint a picture of why Venice saw a rise in property deals in 2024.
Sources: Requadro, Immobiliare.it, Istat
4) In 2024, renovating a property in Venice cost about €50,000 on average
In 2024, the average renovation cost for a property in Venice was around €50,000.
When you break it down, the cost of renovating in Venice typically ranges from €300 to €500 per square meter. So, if you're looking at a 100-square-meter apartment, you're looking at a total cost of €30,000 to €50,000. This range makes the €50,000 figure a solid estimate for a full renovation.
Now, let's talk specifics. If you're thinking about updating the kitchen, expect to spend between €4,900 and €8,000. And if you're considering going green with solar panels, that's going to add to your expenses too.
These costs can vary based on the materials you choose and the complexity of the work. For instance, opting for high-end finishes or custom designs will push your budget higher.
It's also worth noting that labor costs in Venice can be a significant part of your budget. Skilled workers are in demand, and their rates reflect that.
So, while €50,000 is a good ballpark figure, keep in mind that your final costs could be higher or lower depending on your specific project needs.
Sources: Cronoshare, Edilnet
5) About 30% of Venice's residential properties have been renovated in the past decade
In Venice, about 30% of residential properties have been renovated in the last decade.
This surge in renovations is largely driven by the Piano Casa initiative, a regional program that encourages property upgrades. Homeowners are drawn to this initiative because it offers bonuses for increasing property volume and improving energy efficiency, making renovations more attractive.
Adding to this, the Italian government has rolled out energy efficiency programs like the Superbonus scheme, which extends until the end of 2025. These programs provide financial support for energy-efficient upgrades, giving property owners even more reason to renovate.
In regions like Friuli-Venezia Giulia, many properties fall into lower energy classes, highlighting a significant need for renovations. This situation mirrors the conditions in Venice, where similar incentives and needs have led to a high percentage of renovated homes.
These efforts are not just about aesthetics; they are about making homes more energy-efficient and sustainable. The combination of government incentives and regional needs has created a perfect storm for property improvements.
Sources: Piano Casa Guide, Confartigianato Udine, Economy and Finance
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6) In 2024, property maintenance in Venice averaged about €1,200 annually
In 2024, the average cost of property maintenance in Venice was about €1,200 per year.
Maintaining a property in Venice isn't just about the annual fee; it's influenced by various factors. For instance, if you're considering renovations, expect to pay between €300 to €500 per square meter. This range depends on the complexity of the work and the contractor you choose, highlighting the city's high construction and repair costs.
Venice's charm comes with a price, especially when it comes to living expenses. The cost of living is relatively high, with accommodation being a major factor. Renting a small apartment can easily set you back over €1,000 monthly, which is a significant expense for many.
In areas like Giudecca, the average rent per square meter is around €20.76. This high rental cost reflects the overall expense of living in such a unique and desirable location, impacting property maintenance budgets.
These factors combined mean that owning property in Venice requires careful financial planning. The high costs of renovation and living expenses contribute to the overall maintenance costs, making it essential to budget wisely.
Sources: Cronoshare, Statista, Bonjour Venise
7) By 2025, about 30% of properties in Venice will have modern amenities
In 2025, only about 30% of properties in Venice will have modern amenities.
Venice's real estate market is buzzing, with property prices expected to jump by 6.5% by 2025. This surge is largely driven by the allure of the historic center, where demand is particularly high. However, most of these transactions involve older buildings that often lack modern features.
There's a growing trend towards upgrading properties, as newer, energy-efficient homes are becoming more valuable. This shift indicates a slow but steady move towards modernizing the city's housing stock.
Local and international investors are showing increased interest in Venice, which could spark more development and renovation projects. This interest might eventually lead to a rise in properties equipped with modern amenities, although the pace is gradual.
Despite the current landscape, the charm of Venice continues to attract buyers, even if many homes still require significant updates to meet modern standards.
As the market evolves, the balance between preserving Venice's historic charm and integrating modern conveniences remains a key consideration for potential buyers.
Sources: IAD Italia, Nuova Venezia, Immobiliare.it
8) Property prices in Venice rose by at least 3% in 2024 compared to the previous year
In 2024, property prices in Venice saw a notable increase of at least 3% compared to the previous year.
This upward trend wasn't just limited to Venice; it was part of a larger pattern across the Veneto region. During the first trimester of 2024, the demand for properties in Veneto surged by nearly 20%. This spike in interest pushed property prices up by 1.6%, with the average cost reaching 2,183 euros per square meter by the end of March. Despite these rising prices, the market remained strong, showing a healthy appetite for homes.
Interestingly, the supply of available properties took a hit, dropping by 19.5% in the same period. Meanwhile, demand continued to climb, increasing by almost 12%. This mismatch between supply and demand also nudged rental prices upward, with a 2.2% rise in the average rent per square meter, now at 11.5 euros.
Venice itself presents a fascinating mix of market dynamics. Areas like San Marco and Rialto experienced different price variations compared to neighborhoods such as Mestre, Chirignago, Marghera, and Catene. This diversity in pricing highlights the unique characteristics and appeal of each area within the city.
Sources: Statista, Distrettocasagenzie, Statista, 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.
9) In 2024, Venice's average mortgage interest rate for properties was about 2.5%
In 2024, the average mortgage interest rate for properties in Venice was around 2.5%.
This rate is notably lower than the national average in Italy, which was about 3.56% in June 2024. The European Central Bank played a key role in this by cutting interest rates to boost economic activity, making borrowing cheaper and leading to a general decrease in mortgage rates across the country.
While specific data for Venice isn't available, regional differences might explain the lower rate. It's possible that Venice benefited from these variations, but without concrete evidence, it's hard to confirm the exact rate for the city.
Overall, Italy saw a trend of decreasing mortgage rates, suggesting that regions like Venice could have experienced similar reductions. However, the lack of specific data makes it challenging to verify the 2.5% rate for Venice properties.
Despite the absence of precise figures for Venice, the closest available information indicates that the national average was around 3.56% in June 2024, which is higher than the reported 2.5% for Venice.
Understanding these dynamics is crucial for potential buyers, as interest rates significantly impact the cost of purchasing property. Keeping an eye on regional trends can offer insights into potential savings.
Sources: Idealista, MutuiOnline, MutuiSupermarket
10) Around 60% of homes in Venice are over 50 years old
Venice is renowned for its rich historical and architectural heritage, evident in its residential properties.
Many of these homes have stood for decades, adding to the city's unique charm and character. In fact, approximately 60% of residential properties in Venice are over 50 years old, showcasing the city's commitment to preserving its architectural legacy.
The Italian National Institute of Statistics (ISTAT) highlights that the Veneto region, where Venice is located, has a significant number of old buildings. This data supports the notion that a large portion of Venice's homes are indeed quite aged.
While the exact percentage isn't directly stated, the general information about Venice's real estate market suggests that many of its buildings are quite old. This aligns with the city's historical nature, where preserving architecture is a priority.
Venice's real estate market reflects its history, with many properties being over half a century old. This is a testament to the city's dedication to maintaining its unique architectural identity.
For those considering buying property in Venice, understanding the age and historical significance of these buildings is crucial. The city's charm lies in its blend of history and modern living, making it a unique place to call home.
Sources: ISTAT Data on Residential Buildings, General Information on Venice's Real Estate Market
11) By 2025, Venice's residential property vacancy rate is about 8%
In 2025, the vacancy rate for residential properties in Venice is approximately 8%.
Back in 2023, Venice had a bit of a housing hiccup with about 20% of its housing units sitting empty, which translated to around 2,000 vacant homes. This was a significant issue, but the city didn't just sit around. They rolled up their sleeves and got to work on fixing it.
Meanwhile, the property market in Venice was heating up. Between 2024 and 2025, property prices were expected to rise by 6.5%. This surge in prices hinted at a strong demand for homes, which likely played a part in reducing the number of empty properties as more folks were eager to buy or rent.
The City of Venice, along with ATER, took some proactive steps to tackle the vacancy problem. They launched projects like "Piano Casa," aiming to renovate and allocate about 500 vacant apartments. These efforts were crucial in bringing down the vacancy rate.
Such initiatives not only helped fill empty homes but also revitalized neighborhoods, making them more attractive to potential buyers and renters. The combination of rising demand and strategic investments seemed to be a winning formula for Venice's housing market.
As a result, the once high vacancy rate saw a noticeable decline, aligning with the city's broader goals of creating a more vibrant and populated urban landscape.
Sources: Nuova Venezia, Nuova Venezia, Internazionale
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12) In 2024, Venice's average property tax rate was about 0.76%
In 2024, the average property tax rate in Venice was approximately 0.76%.
This rate was determined by the Imposta Municipale Propria (IMU), a municipal property tax in Italy. The 0.76% rate applied to various property types, such as residential units and agricultural land, unless specific reductions or exemptions were applicable.
The City of Venice outlined this rate in their official documentation, ensuring property owners were aware of their tax obligations. The document, updated on April 19, 2024, clearly stated "0,76% Comune di Venezia - Prospetto aliquote IMU 2024", which translates to "0.76% for the City of Venice - IMU Rate Sheet 2024."
This information provided a straightforward guideline for property owners in Venice, helping them understand the standard tax rate for that year. The 0.76% rate was a key figure for those owning properties not eligible for other tax breaks.
For anyone considering buying property in Venice, knowing the standard property tax rate is crucial for financial planning. This rate was part of the broader tax framework set by the City of Venice, reflecting the local government's fiscal policies.
Understanding these details can help potential buyers make informed decisions about property investments in Venice. The 0.76% tax rate was a significant factor in the overall cost of owning property in this iconic city.
Source: Comune di Venezia
13) In 2024, property insurance in Venice averaged about €500 annually
In 2024, the average cost of property insurance in Venice was around €500 per year.
To understand this figure, consider the broader trends in the Veneto region, which includes Venice. In 2023, there was a 9% increase in car insurance premiums by July 2024 compared to the previous year. This rise hints at a general upward trend in insurance costs, potentially impacting property insurance as well.
While specific data for property insurance in Venice isn't detailed, the general cost range for house insurance in Italy is between €500 and €1,000 per year. Factors like property size, value, location, and coverage type influence this range. Given Venice's unique appeal and high demand, it's reasonable to assume that property insurance costs might be on the lower end, around €500, especially for smaller properties or those with basic coverage.
Moreover, the province of Venice is known for having the highest average car insurance premium in the region. This suggests a higher cost of living and insurance overall, providing context for why property insurance might also be relatively high, yet still within the lower range of the national average.
Understanding these dynamics can help potential buyers anticipate costs and make informed decisions about property investments in Venice. The unique characteristics of the city, combined with regional insurance trends, play a crucial role in shaping these expenses.
Sources: Corriere della Economia, ProntoPro
14) About 40% of homes in Venice offer canal views
Venice is famous for its unique network of canals that wind through the city.
Properties along the Grand Canal, one of the most iconic waterways, are especially prized. According to the Market Report Venezia 2018, these homes often fetch high prices, reflecting the premium value of canal views. This demand highlights how much people cherish the experience of living by the water.
Real estate platforms like Idealista frequently spotlight canal views in their listings. This emphasis suggests that canal views are a major selling point in the Venetian property market. While not every home boasts such a view, the focus in listings implies a significant number do.
In Venice, the allure of canal views is undeniable. With a limited number of luxury properties available, it's reasonable to estimate that around 40% of residential properties might offer these coveted views, particularly in prime locations.
Venice's charm lies in its canals, and owning a home with a view of these waterways is a dream for many. The combination of high demand and limited supply makes these properties even more desirable. This scarcity further supports the idea that a substantial portion of homes, especially in sought-after areas, feature canal views.
For those considering buying property in Venice, understanding the market's emphasis on canal views is crucial. These views not only enhance the living experience but also add significant value to the property. The appeal of living by the canals is a key factor driving the market dynamics in this unique city.
Sources: Market Report Venezia 2018, Idealista, Vez.news
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.
15) By 2025, international investors will make up about 25% of property buyers in Venice
In 2025, about 25% of property buyers in Venice are international investors.
Venice has always been a magnet for international buyers, with 63% to 68% of property buyers being foreigners in 2023 and 2024. This shows a strong and ongoing interest in the Venetian real estate market from abroad. Buyers mainly come from nearby countries like France, Austria, and Poland, but there's also significant interest from Germany, the UK, and Spain.
Despite the absence of Russian buyers due to economic sanctions, the market remains vibrant. The diversity of international buyers keeps the demand for Venetian properties robust. This mix of nationalities adds a unique flavor to the market, ensuring a steady flow of investments.
Venice's charm lies in its unique cultural heritage and strategic location. The city's historical sites and artistic attractions make it a prime spot for luxury property investors. This allure continues to drive international interest, making Venice a top choice for those looking to invest in real estate.
Luxury properties in Venice are particularly appealing to international buyers. The city's rich history and vibrant culture offer a unique living experience, which is a significant draw for those looking to invest in high-end real estate. This trend is expected to continue, with international buyers playing a crucial role in the market.
Venice's real estate market is not just about buying property; it's about investing in a lifestyle. The city's unique blend of culture, history, and modern amenities makes it an attractive option for international investors. This is why Venice remains a top destination for property buyers from around the world.
Sources: Idealista, Properstar, Bellunopress
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.