New houses, prices and sales grow in medium-sized cities
According to an analysis by Abitare Co., in ten years, in a sample of medium-sized towns and cities, sale prices of new or fully refurbished houses grew by 22.9 per cent and transactions by +59.7 per cent
6' min read
Key points
6' min read
Not only Rome and Milan. In the last ten years, in fact, the intermediate cities have also shown significant growth. According to an analysis by the Abitare Co Study Centre, the market in the ten intermediate Italian provincial capitals recorded a 59.7% increase in purchases and sales in 2024, compared to 2014, and a 22.9% increase in the average sale prices of new or fully renovated homes, reaching an average of €3,460 per square metre.
Numbers that testify to the growing real estate vibrancy in these areas. What factors are driving growth? These include the increase in demand for first homes by residents, the growing interest in second homes and rental investments, especially in areas with a high tourist value (such as Salerno and Verona), and smart working, which has prompted many families and professionals to prefer medium-sized cities over the more overcrowded and expensive large centres.
The comparison of the 10 intermediate cities: purchases and prices
Going into the details of the 10 intermediate cities, over ten years (from 2014 to 2024) transactions in order increased in all of them but with different values: in L'Aquila by +94 per cent, in Novara by +81 per cent, in Bergamo by +80 per cent, in Padua by +73 per cent, in Perugia by +67 per cent, in Parma by +51 per cent, in Cagliari by +46 per cent, in Modena by +44 per cent, in Verona by +42 per cent and in Salerno by +19 per cent. In terms of average prices, the most marked growth was recorded by Verona (+41.2% and 4,500 euro/sq m), followed by Parma (+31% and 3,850 euro/sq m), Padua (+30% and 3,500 euro/sq m), Modena (+25.2% and 3.450 euro/sq m), Bergamo (+23.2% and 4,150 euro/sq m), L'Aquila (+19.2% and 1,800 euro/sq m), Cagliari (+18.2% and 3,950 euro/sq m), Novara (+17.5% and 3,150 euro/sq m), Salerno (+12.6% and 4,300 euro/sq m) and Perugia (+10.8% and 1,925 euro/sq m).
Focus Salerno
.As far as Salerno is concerned, in 2024 the average sale prices of new or completely renovated houses are 4,300 euro/sqm, with values ranging from 3,600-5,000 euro/sqm. This figure is up +1.9% compared to 2023 and +12.6% compared to ten years earlier. Also in 2024, sales in the city increased by +19% in ten years, although there was a setback (-11.2%) compared to the previous year. The most sought-after areas in the city are Centro Storico, Teatro Verdi and Torrione, with higher prices, while areas such as Casa Manzo and Giovi have lower prices.
Overlooking the Tyrrhenian Sea and gateway to the Amalfi Coast, Salerno has become increasingly interesting in recent years thanks to its mild climate, cultural heritage (thanks to events such as Luci d'Artista, the cruise port and proximity to Unesco sites) and strategic position between Naples and the Coast. According to the most recent surveys, international tourism has increased by 12% year-on-year, driven mainly by visitors from northern Europe and the USA.
Focus Bergamo and Verona
In Bergamo, average sales prices for new or completely renovated homes in 2024 are 4,150 per square metre, with values ranging from 1,800 per square metre to 6,500 euro per square metre. This figure is +2.8% higher than in 2023 and +23.2% compared to ten years earlier. Also in 2024, buying and selling in the city in ten years increased by +80% and +10.5% compared to the previous year. Demand in the city is driven not only by families but also by university students and professionals, with an increasing focus on the redevelopment of peripheral areas.
Beyond and beyond the numbers, Bergamo is a significant example of post-industrial transition. After the sharp contraction of the manufacturing industry, with the divestment of industrial areas in the city and neighbouring municipalities (Seriate, Dalmine), the city has been able to diversify by focusing on advanced services, in the health sector (the Papa Giovanni XXIII hospital is a centre of excellence), in cultural and religious tourism (Città Alta, Unesco World Heritage Venetian walls) and in logistics thanks to its proximity to Orio al Serio airport.
Brand connect
Newsletter RealEstate+
La newsletter premium dedicata al mondo del mercato immobiliare con inchieste esclusive, notizie, analisi ed approfondimenti
Abbonati