Gross rental yields in Italy: Rome and 7 other cities

Average gross rental yield in Italy stands at 7.49% (Q3, 2023).

  • Rome
  • Milan
  • Turin
  • Florence
  • Genoa
  • Palermo
  • Naples
  • Catania
  Last Updated: Nov. 14, 2023
ROME - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
All Locations  
Studio €135,000 €820 7.29%
1-Bedroom €253,000 €1,300 6.17%
2-Bedroom €292,000 €1,300 5.34%
3-Bedroom €358,000 €2,000 6.70%
4+Bedroom €590,000 €2,900 5.90%
Rome avg. Rental Yields 6.28%
MILAN - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Garibaldi-Porta Venezia  
Studio €315,000 €1,300 4.95%
1-Bedroom €423,000 €2,000 5.67%
2-Bedroom €660,000 €2,383 4.33%
3-Bedroom €949,000 €3,500 4.43%
4+Bedroom €1,500,000 €5,500 4.40%
Greco - Turro      
Studio €175,000 €1,000 6.86%
1-Bedroom €249,000 €1,300 6.27%
2-Bedroom €369,000 €1,750 5.69%
Comasina-Bicocca  
Studio €194,500 €990 6.11%
1-Bedroom €239,000 €1,325 6.65%
2-Bedroom €350,000 €1,550 5.31%
Fiera-De Angeli  
Studio €270,000 €1,100 4.89%
1-Bedroom €410,000 €1,640 4.80%
2-Bedroom €640,000 €2,113 3.96%
3-Bedroom €950,000 €3,750 4.74%
4+Bedroom €1,470,000 €7,000 5.71%
Lorenteggio-Bande Nere      
Studio €203,000 €900 5.32%
1-Bedroom €269,500 €1,300 5.79%
2-Bedroom €395,000 €1,700 5.16%
Navigli-Bocconi  
Studio €303,500 €1,225 4.84%
1-Bedroom €415,000 €1,709 4.94%
2-Bedroom €680,000 €2,250 3.97%
3-Bedroom €955,000 €2,917 3.67%
Porta Vittoria      
Studio €229,000 €1,180 6.18%
1-Bedroom €328,500 €1,542 5.63%
2-Bedroom €550,000 €2,099 4.58%
3-Bedroom €890,000 €2,860 3.86%
Centro Storico      
1-Bedroom €635,000 €2,838 5.36%
2-Bedroom €945,000 €3,300 4.19%
3-Bedroom €1,465,000 €4,500 3.69%
4+Bedroom €2,490,000 €7,142 3.44%
Milan avg. Rental Yields 5.01%
FLORENCE - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
1-Bedroom €285,000 €1,990 8.38%
2-Bedroom €350,000 €2,200 7.54%
3-Bedroom €475,000 €2,325 5.87%
4+Bedroom €720,000 €4,500 7.50%
Florence (all locations)      
1-Bedroom €239,000 €1,800 9.04%
2-Bedroom €285,000 €1,950 8.21%
3-Bedroom €360,000 €2,200 7.33%
4+Bedroom €535,000 €3,850 8.64%
Florence avg. Rental Yields 8.30%
TURIN - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Center  
1-Bedroom €242,000 €1,075 5.33%
2-Bedroom €350,000 €1,300 4.46%
Turin (all locations)      
Studio €75,000 €550 8.80%
1-Bedroom €84,000 €800 11.43%
2-Bedroom €135,000 €850 7.56%
3-Bedroom €209,000 €1,100 6.32%
4+Bedroom €365,000 €2,000 6.58%
Turin avg. Rental Yields 8.14%
GENOA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Genoa (all locations)      
1-Bedroom €75,000 €700 11.20%
2-Bedroom €98,000 €900 11.02%
3-Bedroom €119,000 €835 8.42%
4+Bedroom €159,000 €900 6.79%
Genoa avg. Rental Yields 9.36%
PALERMO - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Palermo (all locations)  
Studio €56,000 €510 10.93%
1-Bedroom €77,000 €620 9.66%
2-Bedroom €109,000 €625 6.88%
3-Bedroom €155,000 €780 6.04%
4+Bedroom €232,500 €950 4.90%
Palermo avg. Rental Yields 7.68%
NAPLES - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
Naples (all locations)  
Studio €75,000 €650 10.40%
1-Bedroom €135,000 €900 8.00%
2-Bedroom €210,000 €1,050 6.00%
3-Bedroom €310,000 €1,500 5.81%
4+Bedroom €567,500 €2,200 4.65%
Naples avg. Rental Yields 6.97%
CATANIA - Apartments COST (€) YIELD (p.a.)
TO BUY MONTHLY RENT
CATANIA (all locations)      
Studio €56,500 €480 10.19%
1-Bedroom €70,000 €580 9.94%
2-Bedroom €105,000 €675 7.71%
3-Bedroom €135,000 €785 6.98%
4+Bedroom €198,000 €1,000 6.06%
Catania avg. Rental Yields 8.18%
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: Global Property Guide and Idealista.it

Research Methodology: To conduct this research, we searched for studio, 1-bedroom, 2-bedroom, 3-bedroom, and 4-bedroom apartments in the largest cities of Italy. We utilized the idealista website for both buying and renting prices to determine the average gross rental yields (Monthly Rent x 12 / Purchase Price).

For instance, if the monthly rent is €500 and the purchase price is €100,000, the calculation would be: €500 (Monthly Rent) x 12 / €100,000 (Purchase Price) = 6% (Gross Rental Yield).