Student accommodation: rents down 6.2% in a year
According to Immobiliare.it Insights, the picture is mixed, with some areas seeing rising rents whilst many major ones are falling. Milan remains the most expensive (704 euros per month, though down by 3.8 per cent). Bologna is also down (-7.5 per cent). Rome (+7 per cent) and Florence (+3.3 per cent) are on the rise.
Key points
Monthly rents for student accommodation are falling: down 6.2 per cent nationwide. In reality, although prices for single rooms in most Italian university towns continue to rise compared with twelve months ago, in many cities home to major universities – such as Milan and Bologna – the falls are evident. This decline is mainly due to a drop in demand, measured both in terms of average enquiries per advert (-19.8%) and total enquiries, which are down by almost 22% compared with a year ago, following on from the trend that had already emerged – albeit less markedly – last summer.
It is a complex picture, with sporadic rises and falls, as revealed by the latest report from Immobiliare.it Insights, a company specialising in market analysis and data intelligence and part of the Immobiliare.it group, which, with the new academic year just around the corner, has examined trends in demand, supply and prices in Italy’s rental market.
“The data on rooms confirms a gradual rebalancing of the sector following years of sustained growth, both in terms of demand and prices. This is a trend that had already begun to emerge last summer, but which is now becoming clearer,” said Paolo Giabardo, managing director of Immobiliare.it. In very mature markets such as Milan, where rents have reached particularly high levels, a decline in demand naturally tends to lead to a fall in prices. In any case, the picture remains very mixed: alongside the major centres where the market is stabilising, there are still numerous cities that continue to see significant increases in rents, confirming highly varied local dynamics.”
Key areas of focus: Milan and Rome
Milan remains the most expensive city in Italia for renting a single room, with an average rent of 704 euros per month, despite an annual fall of nearly 4 per cent. Demand per property listing, unlike in many other cities, is rising slightly (+1.5 per cent), but the total number of enquiries – the most significant indicator for gauging the level of interest among users – has fallen by over 14 per cent.
Rome, on the other hand, shows a very different trend: both demand and the total number of enquiries have fallen by over 30 per cent, driven down by prices that continue to rise significantly (+7 per cent year-on-year). The monthly rent charged for a single room in the capital stands at €615, the third highest among the cities analysed, behind only Milan and Florence (€627 per month).
Brand connect
Newsletter RealEstate+
La newsletter premium dedicata al mondo del mercato immobiliare con inchieste esclusive, notizie, analisi ed approfondimenti
Abbonati