The largest price gap was recorded in Genoa, where a square meter in a new building costs almost twice as much as in a second home (3503 euros versus 1777 euros). A gap of more than a thousand euros is also observed in Turin (+1,327 euros per square meter), Monza (+1,266 euros per square meter), Como (+1,222 euros per square meter), Bari (+1,196 euros per square meter), Palermo (+1,130 euros sq. m) and Trieste (+1042 euro sq. m).
The picture in the largest cities is completely different. In Milan, Rome and Naples, the difference between new and secondary housing is minimal - about 360 euros per square meter. This is due to the fact that even old housing in these cities has reached very high prices: in Milan, a square meter in a new building costs 5982 euros, and in secondary housing 5618 euros. In the center of Milan, the opposite situation is observed: old apartments in historical buildings are more expensive than new ones.
The only exception in Italy is Venice, where second homes are on average 38 euros per square meter more expensive than new ones. Experts attribute this anomaly to the uniqueness of the historical center, where there is practically no new construction, and prices for old housing stock remain extremely high.
Over the past five years (starting in 2021), prices for new housing have increased by 31%, while secondary housing prices have risen by only 10.3%. According to experts, this trend will intensify. High energy efficiency, compliance with modern building standards and no need for repairs are becoming crucial factors when choosing a home.Source: Immobiliare Insights
