Let's start with an established fact: the real estate market in the historic center of Venice is confirmed as one of the most expensive in our country.
To buy a house in Venice, the price of a prestigious property varies between € 8 and € 12,000 per square meter. With such an average price per square meter, Venice far exceeds the regional and provincial average, feeling the influence of some micro-areas of the city that contribute to raising the average.
It is reasonable to think that in the next few years the value of the properties will continue to remain high (if not to grow) in these areas:
- San Marco: the heart of the city, the most expensive area is confirmed with prices ranging from € 4,900 / sqm to € 5,800 / sqm, up to € 10,500 / sqm for the most exclusive properties overlooking the square, equipped with berths private or overlooking the Grand Canal.
- Rialto: among the most desired, the apartments and houses overlooking the canal in the Rialto district, with average prices ranging from € 7,000 to € 8,000 per square meter.
- Dorsoduro, San Polo and Santa Croce: these areas remain among the most prestigious for investments, with an average price of around:
5,000-6,000 € / sqm in the Dorsoduro area;
4,300-9,800 € / sqm in the San Polo area;
3,500-8,000 € / sqm in the Santa Croce area.
- Castello and Cannaregio: historic and renowned districts, have slightly lower prices, with an average value of around € 3,500-4,800 / sqm, but which can reach € 8,000 / sqm for properties overlooking the Grand Canal.
- Lido di Venezia: with an average price per square meter that can reach € 3,600 / sqm, the Lido area is also preparing to witness further growth, expected following the massive redevelopment of the former Ospedale al Mare of the Lido of Venice , destined to transform itself into an extra-luxury resort.
To find out more, discover our Venice 2020 Market Report.
As for the rentals, the prices vary between 5 and 22.6 € / sqm per month, however affected by a strong variability due to the wide range of offers available. In short, even on the rental front, the real estate market in the historic center of Venice will not hold big surprises.
True, the the Venice real estate market has remained almost constant despite the pandemic, yet the demands of potential buyers are starting to change slightly.
The historic properties, of great artistic, historical and cultural value, but now obsolete from the point of view of equipment, have always been a great success, but today it is above all the prestigious properties renovated and redeveloped, located in particularly sought-after and popular areas to collect. success. This type of property promises to have greater potential for value growth, confirming some trends that have long been affecting the real estate market such as smart living and all those green choices, oriented towards sustainability and energy saving.
The value of large apartments for sale in Venice is also growing dramatically, equipped with outdoor spaces (garden, terrace, roof terrace), as an inevitable post-Covid consequence, at the request of those who wish to improve their quality of life starting from home.
Are you curious to know more details? Contact your Engel & Völkers Venice agency for advice.
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