The Italian housing market is experiencing a deceleration in price growth, with the national year-on-year increase in house prices slowing to 4% in the second quarter of 2026, down from 5.1% in the first quarter, according to national statistics. This trend reflects a broader cooling in the real estate market across Italy, despite notable variations in major cities.
Turin stands out as an exception to the national slowdown, recording a dramatic 8.5% rise in house prices over the past year. The city’s real estate market has seen a significant uptick compared to the 3.8% growth observed in the first quarter, indicating robust demand or other local factors at play.
Rome also experienced a healthy increase in its real estate sector, with house prices climbing by 6.4% annually. This marks an acceleration from the 5.5% growth seen in the previous quarter, suggesting continued interest in the capital’s housing market.
Conversely, Milan’s housing market is cooling off considerably, with prices rising by only 2.4% over the year. This figure represents a substantial slowdown from the 7.1% increase recorded in the first quarter, highlighting a potential shift in buyer behavior or market conditions in Italy’s financial hub.