Cost of rents for students up 11% in Italy

 

Inflation in Italy hits rentals in university cities. According to the latest report by Immobiliare.it, an Italian company leader in online real estate market, single room prices have increased by 11 percentage points compared to 2021. The average is now 439 € per month.

The price of a bed in a double room fell by 9%, costing an average of 234 €. The trend is heterogeneous in the different cities that have been taken into account by the study. With the exception of Catanzaro (-10.6%) and Pescara (-19.4%), prices for individuals have increased everywhere, in Padua by as much as 42.2%.

After Milan, there is Rome, one of the most expensive cities for students, that in the capital can spend 465 euros for a single room and 248 for a bed in a double. A little less expensive is Florence, with 450 euros and Bologna, with 447. Turin, Venice and Naples, also welcome students with figures between 360 and 337 €.

This trend had already started in 2021 even if the uncertainties about the regular recovery of the academic year had made the increases less evident. Good news for the owners, after the years marked by the crisis triggered by Covid. The demand continues to grow, with a +45% for individuals and a +41% for doubles compared to 2021, while the stock of leases available on the market is reduced.

As Monsuni reported, historically, Italy has not paid great attention to student housing, at least as far as public-sponsored initiatives are concerned. Buildings were therefore built by HEIs themselves, and by religious organisations. A relevant share was and still is, detained by private landlords, who rent private flats where kids usually live in groups of 4 or 4.

In Italy, student housing is still representing an emerging market and transactions involving students’ accommodations were limited in 2019. Nevertheless, the interest in the sector was high and it is contributing to the creation of new structures. Both domestic and international operators are operating in the market such as Collegiate, Campus X, The Student Hotel, Hines and Nuveen.

 

Photo credits: Kiiky.