Average price of properties for rent in Venice, Italy 2023, by area

San Marco and Rialto, one of the most popular areas in Venice, had an average rent for residential properties higher than in any other area in 2023. In October, the square meter rent cost on average approximately 21.8 euros per month. Venice ranks among the most expensive cities in Italy to rent residential real estate properties, second only to Milan and Florence, which together with the city island is one of the touristic hotspots of Italy.

 Renting or buying? 

  When faced with the choice of buying or renting a house, Italians prefer by far the option of purchasing and therefore owning their own home. Moreover, in the last few years, conditions have been favorable for people willing to purchase a house. House prices in Italy decreased steadily since 2012 and so did interest rates on new mortgage loans, making it cheaper for people to buy their own house or to invest in residential properties.  

 Residential real estate in Italy 

Despite these favorable conditions, the residential real estate market in Italy has not fully recovered since the 2008 financial crisis. However, positive signs can be seen: the number of transactions increased steadily after reaching an all-time low in 2013. Moreover, low prices in many Italian cities attract individuals interested in purchasing residential real estate for investment.