Should you buy property for sale in Rome and Lazio in 2023-2024?
17,242 km2 (6,657 sq mi) comprising plains, gentle mountains, 5 lakes, a mostly sandy coastline, and Italy’s capital, one of the most celebrated and extraordinary cities in the world: Rome. Lazio, Italy’s second-most populated region, yearly hosts thousands of tourists attracted by the infinite, and spectacular, beauties of the Eternal City. It goes without saying that houses in Rome Italy, both for sale and for rent, are the dream of innumerable travelers.
Tourism and real estate in Rome, Italy
Ever since the Grand Tour era, Rome’s history, art, architecture, and pleasure-loving lifestyle have been luring visitors from all over the world and in all seasons. There is no “low” season in Italy’s capital, and the city’s lively business, political and cinema-related scene also beckon entrepreneurs and industry businessmen year-round. Naturally, the demand for long-term apartment rentals in Rome, Italy is constant and relentless. These factors, alongside the pleasures of life in a city like no other, all make real estate in Rome Italy an excellent investment opportunity.
Major tourist attractions in Rome
Saint Peter’s Cathedral, the Vatican Museum and the Sistine Chapel, with its mesmerizing frescoes. The city center squares – such as Piazza Navona, Campo de’ Fiori and Piazza Farnese – poetic cobble-paved streets of Trastevere, and Renaissance palaces. The majestic and impressive vestiges of antiquity such as the Colosseum, the Roman and the Imperial Forum, and the Baths of Caracalla. Not to mention the stunning collections contained in the many museums, which range from the ancient Roman art of the Capitoline Museums to Antonio Canova’s evocative sculptures in the Borghese gallery to the contemporary masterpieces on display at the MAXXI. Rome has something for everyone. And more.
Sports, and seasonal favorites, in Lazio
Rome’s uniqueness and amazing range of attractions, ensure that it will forever be a sought-after destination, but the rest of the region also offers bewitching sights and enticing attractions. In spring and summer, Italian and foreign beach-goers seek the sandy shores of the Circeo Natural Park, the whitewashed charm of Gaeta, and the secluded beauty and gleaming sea of the Pontine Islands. Monte Gelato’s waterfalls and the eerie park of Bomarzo are sought-after by families and fun-loving young people, as are the Roman Castelli towns, the lakes (mainly Lake Bracciano Bolsena and Nemi) and the ancient villages built on the tuff hills: Civita di Bagnoregio, Calcata and Caprarola
Ceaseless tourism flows make buying property in Rome, Italy a win-win investment
As lovely as Lazio’s other towns and holiday destinations are, Rome still beats them all as regards both tourist flows and real estate interest. The recent data reported by Jetpost, leading flight and hotel booking portal, and published by Italy’s La Repubblica Viaggi on April 5, 2022, shows that wanderlust is back worldwide, and a lot of it is directed towards the Eternal City. Between January and March 2022, the portal reveals, flight searches have gone up by 150%, and hotel searches by 210%.
Rome: most popular city in Europe for Easter vacations, and capital of luxury and fashion
The figures also highlight that foreigners, especially the German, French, Spanish, Dutch Portuguese and Britons, chose Rome for their Easter holidays. As for the future, Rome’s Councillor for Tourism Alessandro Onorato,interviewed by Canale 10, says that the forecast is rosy, especially thanks to fashion and luxury travel. Rome’s spectacular Spanish steps will, in fact, host a glamorous Valentino fashion show on July 8, numerous 5-star hotels are being renewed, and there are brand-new deluxe properties opening soon.
Rome back to the future: the Ryder Cup 2023 and the 2025 Jubilee
And, there are other two, grandiose, events that excite the interest of far-sighted investors looking at property for sale in Rome: the 2023 Ryders Cup and the 2025 Jubilee. The first, the world’s most important team golf competition, will bring “big spenders” in, says Franco Chimenti, president of the Italian Golf Federation, commenting on the fact that weekly passes were sold out in just 24 hours. With so many champions, their staff, and their fans in town, the demand for houses for rent in Rome Italy is bound to soar: buying property in Rome Italy now could ensure you partake in the benefits of this event.
How Jubilee funds will upgrade and enhance the Eternal City
The second is the 2025 Jubilee. Needless to say, the thousands of pilgrims that come to Rome will be seeking places to stay, and need sturdy infrastructure to welcome them, and that is exactly what is being prepared. As reported by Roma Today, the Italian government has allotted 8.2 billion euros to be spent on the development of the subway, tramway and bus networks, upgrading and building of cycling routes, for the city’s ports (Ostia and Civitavecchia) and for the water system and general enhancing of the urban areas.
Purchasing property for sale in Rome in 2023 – 2024 appears to be a very clever move
The bottom line? The above-described investments and interventions shall, very probably, be able to turn Rome into a more livable, more efficient, and overall more modern city. If so, real estate in Rome Italy will become more valuable by the minute, and, at once, long-term apartment rentals in Rome Italy will be even more sought after.
Houses for sale in Rome, Italy, and access to higher education
Education, i.e. Rome’s leading-edge universities and especially its diverse, and mesmerizing, artistic heritage, are another factor that often kindles foreign investors’ interest. Choosing to buy a house in Rome Italy, in fact, guarantees a buyer, and his/her family, easy access to some of Europe’s most important graduate courses, museums, and galleries.
Property for sale in Rome Italy: what should you buy?
But what prospective investors, even those already in love with the Eternal City, really need to know is how much they should envision spending. Can you afford to look at historic or luxury real estate in Rome Italy? Or should you focus on a strategically located apartment or mid-sized house for sale in Rome, Italy? Let’s take a look at the current real estate market scenario, and see what prices are for property for sale in Rome.
Houses in Rome, Italy: where to look
Before we look at the figures, let’s get the geographical/administrative facts straight. The province of Rome is a vast area (5,363.28 square kilometers) that includes 121 municipalities; the Rome municipality, Comune di Roma, is the largest of these (1.285 square km), the most populated municipality in Italy, and the third most populated in Europe. Needless to say, prices for houses in Rome Italy vary enormously both within the Rome province and within the namesake municipality.
House prices Rome Italy: the current market scenario
Italy’s leading real estate portal, Immobiliare.it offers the best insight and most easy-to-understand data. The market survey reveals that as of March 2022 the average price of houses for sale in the province of Rome was €2.720 per square meter, showing a slight decrease (- 0.58%) compared to March 2021, when it stood at €2.736, the highest average reached over the last 2 years. As concerns the different municipalities, it comes as no surprise that the most expensive houses for sale are those in the Rome municipality, €3.298 per square meter, and naturally the highest of all in the historic center: €7.373 per square meter.
Rome Italy real estate listings in the surroundings of the big city
As mentioned, the range within the province is in some cases stunning: in Affile, about 50 km from Rome city center, there are houses for sale at an average of €424 per square meter. On the other hand, there are towns in the province of Rome that enjoy a good share of tourism, and offer a rich cultural heritage and wholesome environment. One can find interesting lakefront opportunities in Castel Gandolfo, seat of the Pope’s summer residence, where dwellings sell for an average of €2.124 per square meter, or in delightful Nemi (average of €1.567) and seafront houses in Ladispoli at an average price of €2.186.
Get more information on real estate market prices in Lazio on this page.
Get in touch for more info about our real estate services in Italy