In H1 2022, on Rome’s real estate market, purchases and sales rose by 9%, while the volume transacted increased by 16% (Engel & Völkers)
From the historic center to Parioli and Eur: focus on individual areas of the Capital
In the historical center, the presence of foreign buyers consolidates, especially French and British, who are returning to invest in Rome
The vitality of Rome’s real estate market continues, albeit at a slower pace, with buying, selling, and renting contracts on the rise in Q1 2022, particularly in prime areas and areas attractive in terms of value for money and well-connected to the center.
The findings are highlighted within the Milan/Rome Market report for the first half of 2022, produced by Engel & Völkers in collaboration with Nomisma.
Rome real estate market: trends in the residential sector
According to the study, in the period January-June 2022, purchases and sales in the Capital increased by 9 percent, in line with the national figure, after a final 2021 figure up 31.4 percent compared to 2020 and 18 percent compared to 2019, while the volume transacted rose 16 percent compared to the first half of last year.
Rome’s real estate market forecast for the 2nd part of 2022
“The real estate market in Rome, particularly the residential market, has demonstrated great vitality in the first six months of 2022, following up on the upward trend that has been occurring since 2019,” said Helio Cordeiro Teixeira, managing director of market center Rome Engel & Völkers, who is confident of the second half of the year still expanding. “The quality and quantity of demand, the growing desire to improve one’s housing condition, and the fear of a sudden increase in real estate prices and rates reinforce the interest and need toward home switching,” Cordeiro Teixeira commented – On the other hand, the lack of new products that can meet the growing demand could create some slowdowns and is something the sector has to deal with and be ready for.”
Rome’s housing market: focus on individual areas
Rome’s historic center
“In the historical center, the residential market is fueled by both first home and investment demand and is mainly concentrated in the districts of Trastevere and Testaccio, which are always characterized by a lively market, and in the districts of Ponte, Borgo, Parione and Monteverde Vecchio, which are particularly sought after by young couples or for investment for receptive/short term use.
It consolidates the presence of foreign buyers, especially French and Anglo-Saxon, who are returning to invest in the Capital,” reads the report, which then highlights how in this area, average prices are included within a vast range that takes into account the location of the property, its state of maintenance and proximity to historical-cultural or institutional points of interest.
For renovated homes, prices range from 3,000 euros/sqm to 9,000 euros/sqm for the most exclusive neighborhoods, in line with the previous six months. In the Prati-Vatican area, average prices vary significantly, between 4,200 and 7,000 euros for renovated homes.
North Rome
The North area is increasingly appreciated for its good accessibility and the presence of green areas and has distinguished itself for the robust growth in purchases and sales in continuity with the previous two semesters. In North Rome, average prices have shown different trends in the area’s various neighborhoods, with average prices ranging from 3,000 to 7,000 euros per square meter.
The Parioli and Trieste/Salario areas show average prime prices of 7,000 and 6,100 euros/sqm for new or renovated-to-new homes.
The trend of buying for investment use is then confirmed in the Nomentano/ Bologna and San Lorenzo areas, while there is a decline in foreign demand.
West Rome
The West area confirms the positive trend of buying and selling. Demand comprises couples or resident families looking for a first home or home replacement in a residential area. Here, average prices register on a six-month basis substantial stationarity in all neighborhoods of the macro area, except homes to be renovated in the Colli Portuensi area where minimum prices are on the rise. Purchase and sale values are in the 2,700-4,100 euros/sqm range for new or renovated-to-new properties and the 2,300-3,500 range for those to be renovated.
South Rome
The South area is suffering in some areas from a slowdown in buying and selling, assuming equal demand, which could be a precursor signal of an expected national trend. Overall, average prices for new/renovated homes remain stable compared to the previous six months, except for Eur and Laurentino, where there is an increase in maximum average prices. Average prices range from 2,300 euros/sqm in the Laurentino area to 4,800 euros/sqm in San Giovanni /Appio Latino and Eur for new or renovated-to-new properties. In particular, the Eur and Torrino Nord areas are attractive for first homes and investment.
