The value of the housing market is falling throughout Italy And only one region is having a positive trend

The latest analysis conducted by eXp Italy on how the Italian real estate market is going, using data from Idealista, reveals a surprising fact—especially given the current national debate on high rents and overtourism: a widespread decline in property values across almost all Italian regions in 2025. Are home prices about to go down? The observation, based on data collected from December 2024 to February 2025, shows a general decrease in price per square meter, with the exception of just one region that recorded year-on-year growth—and it’s not Lombardy, but Molise. But let’s go step by step. In the short term, price variations are already evident in the first months of 2025. Veneto stands out as the region with the sharpest decline: from December 2024 to February 2025, the average property value dropped from €1,914/sqm to €1,801/sqm. A decrease that reflects a strong corrective dynamic in the regional market. Next comes Valle d'Aosta, where property values fell from €2,778/sqm to €2,708/sqm over the same period. Marche and Trentino-Alto Adige also showed a similar trend: the latter, for instance, saw a drop from €3,285/sqm to €3,088/sqm, while Marche declined from €1,379 to €1,316/sqm. In Emilia-Romagna, the decline was noticeable but slightly less pronounced compared to other regions: values fell from €1,933/sqm to €1,838/sqm. Among the regions that recorded a smaller decrease is Campania, where property values dropped only slightly, from €1,666/sqm to €1,648/sqm between December and February. Similarly, Tuscany and Molise saw changes of less than 2%: Tuscany went from €2,385 to €2,354/sqm, while Molise dropped from €1,325 to €1,303/sqm.

When looking at year-on-year data, the picture confirms the challenges facing the Italian real estate market. All regions, except for Molise, recorded a drop in values compared to February 2024. Molise, surprisingly, saw a price increase, rising from €1,261 to €1,303/sqm, indicating a resilient market bucking the national trend. Among the regions that remained relatively stable in the yearly comparison are Calabria, Campania, and Abruzzo, with minimal changes. In Calabria, for instance, the value remained almost unchanged, decreasing only slightly from €1,223 to €1,222/sqm. In Campania, the average price went from €1,671 to €1,648/sqm, while in Abruzzo it moved from €1,381 to €1,377/sqm. Lombardy recorded a marginal decrease, going from €2,160/sqm to €2,153/sqm, showing apparent stability compared to other regions. Piedmont also saw a slight drop, with prices falling from €1,605 to €1,577/sqm. In Liguria, values went from €2,568 to €2,482/sqm, marking a noticeable slowdown. Friuli-Venezia Giulia recorded a correction from €1,664 to €1,597/sqm.

Further down the peninsula, Lazio saw a drop from €2,443 to €2,371/sqm, while Umbria declined from €1,272 to €1,248/sqm. Puglia, which often shows signs of tourism and real estate vitality, still registered a slight slowdown, dropping from €1,388 to €1,363/sqm. In Sardinia, prices fell from €2,257 to €2,201/sqm, while in Sicily they went from €1,223 to €1,203/sqm, and even in Basilicata values declined from €1,253 to €1,213/sqm. No region, apart from Molise, managed to counter this negative trend that spread across the national territory. Overall, the data suggests that the Italian real estate market is undergoing a phase of adjustment, likely influenced by broader economic dynamics, tighter credit conditions, and increased caution among buyers. For now, only Molise seems to be resisting this trend, standing out as an interesting exception on the national scene. As 2025 progresses, monitoring these trends will be crucial to understanding whether the contraction will continue or if other signs of resilience will emerge in the Italian real estate market.