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The most expensive apartments in Italy? Not Rome, Venice or Florence – it is Milan.

The Cost of Apartment Rentals in Italy

As new statistics show that renting an apartment in Italy is getting more expensive, demand for rented rooms in Italian cities is going up and so are the prices. Milan remains the most expensive city to rent an apartment in Italy – and one of the top ten most expensive places to rent in the world. In 2019, prices went up almost everywhere in Italy with an average increase of three percent.

The most dramatic price increase was seen in Padua in the Veneto region, where the average rental price shot up by 18.6 percent this year.

Among the cities with the biggest average price increases, the survey also highlighted Trieste with more than a 13% increase and Bologna at almost nine percent. Broadly, prices in northern and central areas were found to be higher and rising faster than those in southern cities. However, prices did not go up everywhere. In Reggio Calabria the average cost for an apartment dropped by 7.9% and in L’Aquila by 6.4%. Even some cities in the northern and central regions showed a decline, including Genoa, down by 3.7% and Pisa, which declined by 2.2 percent.

When it comes to shared space, the renting of a room was most often associated with those who are attending universities. The most expensive cities are, unsurprisingly, those with major universities. The top five most expensive Italian cities are Milan, Rome, Florence, Padua and Bologna. At the opposite end of the spectrum are the five least expensive cities: Palermo, Catania, L’Aquila, Enna and the least expensive of all, Reggio Calabria.