Situated on the banks of the Tiber River, the Italian capital Rome is the country’s largest city with a population of around three million. This cultural melting pot attracts visitors from all over the world with its magnificent heritage, ancient buildings, Mediterranean climate and superb quality of life. The number of international property buyers here has also been steadily growing for several years now. The good employment conditions and various international schools are key factors drawing such buyers. Clients from the USA in particular are investing in real estate in the “Eternal City” in increasing numbers. They represent the largest international buyer group, accounting for around 40 percent of foreign transactions, followed by French clients who account for around 20 percent. “Investors from abroad are looking to invest in properties that are set to retain their value during periods of high inflation. They are especially interested in properties in the historic city centre or in the surrounding districts with good transport links to the centre,” says Helio Cordeiro Teixeira, Managing Director of the Engel & Völkers Market Center Rome.
Among the most sought-after residential areas is the historic heart of Rome. It has much to offer, as the epicentre of life that happens to be so steeped in history. Architecturally stunning buildings and the finest restaurants in the city can be found here, as well as a number of municipal gardens and parks, and a rich cultural scene that includes theatres, museums, centuries-old churches and ancient sites like the Colosseum and the Roman Forum. This part of the city is a particular magnet for investors and international clients looking for a sound investment alternative. Interest is focussing increasingly on apartments in historic buildings, which command top prices of up to 12,000 euros per square metre.
North of the city centre is Parioli, Rome’s second district, also known for being the city’s business centre. Many banks, financial corporations and consulates are based here. The diversity of shops, bars and restaurants here has increased as a result, making the district particularly interesting for investors. The proximity to various parks and the banks of the Tiber, within walking distance, is another reason why Parioli is such an attractive place to live for families. Large living spaces, and a terrace or balcony are in high demand in this neighbourhood. Sales prices here in 2022 reached up to 7,500 euros per square metre.
Just to the northeast of Vatican City lies the highly desirable Prati district. Enjoying a central location with many official buildings in the vicinity, the area is very appealing to lawyers and notaries. The majority of prospective buyers here are looking for large apartments and office space. In 2022, the top prices per square metre were approximately 7,000 euros.
The modern district of Esposizione Universale Roma, or EUR for short, stands for “Universal Exposition Rome”. It was built in 1938 for a World Expo and has remained in its original form for the most part. From an architectural perspective, the area forms a contrast to the monumental city centre. It draws mainly families with children and young couples thanks to the special flair created by the public parks here with lakes. Spacious apartments with balconies or terraces were sold here in 2022 at top prices of up to 7,000 euros per square metre, while villas with gardens sold for up to 4,500 euros per square metre.
The war in Ukraine, rising inflation and the economic repercussions are also impacting on the real estate market in Rome. Despite this, Engel & Völkers is forecasting a consistently high demand and a slight rise in prices for properties in prime locations this year: “Rome’s real estate market still enjoys strong demand, coupled with a limited supply of available listings. The Italian capital will remain a sought-after investment location as a result. A fact confirmed by the growing number of investors,” says Helio Cordeiro Teixeira.