In the capital of Italy, every corner is steeped in history, culture, and a unique atmosphere. But in addition to priceless landmarks and legendary architecture, Rome offers unique opportunities for real estate investment. Some dream of an apartment overlooking the Colosseum, while others prefer a quiet house in a neighborhood full of green parks.
Advantages of Buying Real Estate in Rome: Living Among Ancient Monuments and Modern Infrastructure
Rome is a rare example of a city where you can live among ancient ruins and still enjoy all the benefits of modern civilization. Buying real estate in Rome—whether it’s an apartment or a flat—is an opportunity to see ancient monuments from your window every day and then go down in the evening to enjoy a cappuccino in a cozy cafe.
Some neighborhoods, such as Prati and Monti, offer a blend of historical charm and modern conveniences. Prati has a well-developed infrastructure with large shopping centers like Coin Excelsior, grocery stores, schools, green parks, and even high-level medical facilities like Policlinico Gemelli. Monti, one of the oldest districts in Rome, also offers a high quality of life and convenient access to all major attractions. It boasts many stylish bars and restaurants, as well as small boutiques, making it particularly attractive to young people.
Benefits of Buying Real Estate in Rome:
- Historical atmosphere at every turn.
- Excellent transportation accessibility (metro, buses, trams). Metro lines A and B pass through many important areas, making transportation convenient.
- High quality of life, including a plethora of restaurants (such as Trattoria Monti and Antico Arco), shops (from small boutiques to large shopping centers), and parks like Villa Borghese and Parco della Caffarella.
Investment Opportunities in Rome: Real Estate Investments in Italy
Over the past 10 years, property prices in Rome have shown steady growth, averaging 3-4% per year, making this market one of the most attractive in Europe. Additionally, rental properties remain in high demand. Tourists, students, and expatriates ensure a constant flow of tenants.
The Trastevere area is known for its high rental yields, especially among tourists. Here, properties can be rented out on a daily basis, earning between 100 and 200 euros per day, depending on the season and location. In San Giovanni, Rome, properties can be purchased at a relatively low price—around 4000-5000 euros per square meter—with good growth prospects.
San Giovanni is also attractive for its abundance of educational institutions and good transportation connections. Real estate investments in Rome also attract buyers with the stability of Italian legislation, the opportunity to generate additional income, and, importantly, tax incentives for first-time buyers.
Drawbacks of Buying Real Estate in Rome: High Prices
It’s no secret that property prices in Rome can vary significantly depending on the area. For example, in central areas like Campo de’ Fiori or Pantheon, the cost can reach 10,000-12,000 euros per square meter, while in districts like Ostiense or San Paolo, it can be significantly lower—around 4000-5000 euros.
Real estate in prestigious areas of Rome requires significant investments not only during the purchase but also in maintenance. For instance, the property ownership tax in Italy (IMU) can reach up to 0.76% of the cadastral value of the property, depending on the category.
Maintenance requires additional expenses for building maintenance, a concierge, and utility payments, which can amount to 300-500 euros per month, especially for older properties requiring regular repairs. And utility costs for large apartments can reach up to 300 euros per month, including electricity, gas, and water.
Bureaucratic Challenges in Buying Real Estate in Italy
The purchasing process is accompanied by numerous bureaucratic hurdles, especially for foreign citizens. Those looking to obtain residency in Italy through real estate must meet a number of conditions, including income verification and obtaining a tax code (Codice Fiscale). This code is required for all property-related transactions and tax payments.
In addition, buyers must sign a contract with a notary (Notaio), which entails additional expenses. The specialist not only certifies the transaction but also verifies the cleanliness of the property, absence of debts, and legality of previous registrations. The fee for notary services can range from 2000 to 4000 euros depending on the complexity of the transaction and the property value.
Buyers must also consider the tax on the purchase of secondary real estate (Imposta di Registro), which is 9% of the cadastral value in Rome, and for those purchasing their first property in Italy—2%. This tax must be paid within 20 days after signing the deed. Purchasing also requires an account in an Italian bank and transferring money into euros, which also incurs additional fees.
Best Areas in Rome for Buying Real Estate: Historic City Center
Proximity to major attractions such as the Colosseum, Pantheon, and Roman Forum attracts not only tourists but also those who want to be part of this living history. Living in the center offers the opportunity to enjoy walks along narrow streets, visit the best restaurants, and soak in the grandeur of the ancient city.
Areas in Rome like Campo de’ Fiori and Piazza Navona offer elite real estate surrounded by majestic historical buildings. The average cost per square meter there is around 10,000-12,000 euros. These places are ideal for those who value prestige, but one must be prepared for high maintenance costs and noise due to the large number of tourists. Additionally, parking in the city center is a challenge—often requiring separate rental of a parking space, which can cost up to 300 euros per month.
Areas for Russian-Speaking Buyers
For Russian-speaking buyers seeking comfort and familiar conditions, areas like Prati or Balduina are suitable. These locations offer developed infrastructure, including Russian schools, stores with familiar products, and even cultural centers. Prati is located near the Vatican and features wide streets and convenient transportation access. Metro Line A runs through this area, making it convenient for those working in the city center.
Balduina offers a quieter and more peaceful atmosphere with plenty of green areas and parklands, such as Riserva Naturale di Monte Mario, ideal for families with children. In this area, you can find both villas and multi-apartment buildings, allowing you to choose housing to suit any need.
Conclusion
Buying real estate in Rome is not just an opportunity to immerse yourself in the world of ancient history but also a chance to invest in a stable and growing market. Despite high prices and some bureaucratic complexities, the capital of Italy remains one of the most attractive cities for living and investing. Here, everyone will find a neighborhood to their liking—from the bustling historic center to the peaceful and cozy outskirts.
