In the second quarter of 2023, Italy's real estate market faced some challenges, leading to a drop in activity. The main issues are rising mortgage rates and high housing prices, especially in cities like Milan and Rome. In Milan, the cost per square meter is around €4,900, while in Rome, it's approximately €3,000.
Affordable Areas in Milan
If you're looking for more budget-friendly options, you can consider some municipalities in the Milan metropolitan area. Here are a few:
1. Magenta with prices around €1,560 per square meter.
2. Abbiategrasso with prices at about €1,700 per square meter.
3. Garbagnate Milanese, where you can find properties for approximately €1,800 per square meter.
If you prefer to stay within the city of Milan, some of the cheaper areas include Vialba Gallaratese with prices starting at €2,600 per square meter and Baggio with prices around €2,800 per square meter.
Budget-Friendly Choices in Rome
In the metropolitan area of Rome, you can explore more affordable options in municipalities like:
1. Velletri, where property prices are about €1,400 per square meter.
2. Ardea, with prices around €1,500 per square meter.
Within the city of Rome, it's a bit more challenging to find properties below €2,000 per square meter, except in areas close to the A24 motorway.
Finding affordable homes in Milan and Rome is possible by exploring these budget-friendly areas. You can start your property search with confidence, knowing that affordable options are available in these beautiful Italian cities.