Market 2026: slight increase after 3 years of stability
After a rather calm 2022-2026 cycle, 2026 opens with a slight increase driven by university hubs and rental demand. Rates are stabilizing, mobility is picking up, and supply remains measured.
The drivers of this restart:
- Student and young professional flows to major cities.
- Strengthened tourism on the Adriatic coast.
- Quality of life and infrastructure above the Italian average.
- Limited new supply in historic centers.
Average price: ~2,800 €/m² (+2.4%)
The regional average price is around 2,800 €/m², up by about +2.4% year-on-year. Differences remain marked: the centers of Bologna and some areas of Rimini exceed the average, while outlying municipalities and medium-sized towns maintain more accessible levels.
Note: according to secondary residence ads collected on the Green-acres site, houses for sale in Modena display a high average price due to often very spacious properties (average price observed for these listings ~€2,851,000 for large surfaces, or about €2,851/m²), highlighting the diversity of supply between urban markets and heritage properties.
In practice, the budget strongly depends on location, energy status, and proximity to transport/schools/sea.
Bologna and Rimini: demand drivers
Bologna concentrates skilled jobs and students; Rimini benefits from year-round tourism and events. Together, they drive the regional dynamic. 🏘️
- Bologna: university hub, biotech and services, strong rental pressure.
- Rimini: beaches, trade shows and hotels, sustained demand for short and medium stays.
- Accessibility: highways, high-speed rail and airports support market liquidity.
Strong segmentation in Emilia-Romagna
The market reads « down to the street. » Micro-sectors (historic center, university areas, well-served fringes) show distinct behaviors depending on supply, building energy, and rental appeal.
Bologna: scarce supply, rising rents (+7%)
Rental tension has resulted in a rent increase of about +7%. Supply is scarce within city walls, and renovated properties with good energy ratings go quickly.
- Where to look: historic center for liquidity, university neighborhoods for shared accommodation, well-connected belts to optimize returns.
- To check: energy diagnostics, condominium management, acoustic quality in older buildings.
- Strategy: favor compact spaces (studios/one-bedrooms) close to transport/schools to secure occupancy.
Parma and Modena: family and heritage markets
Parma and Modena offer more stable markets, favored by families and heritage-oriented buyers. Yields are moderate, vacancy is low, and resale is generally smooth in the right locations.
- Assets: quality of life, agri-food and mechanical industry, strong public services.
- Targets: 2-3 bedrooms with outdoor space, parking, and schools nearby.
- Purchase keys: orientation, energy performance, controlled expenses.
According to published demand data (Green-acres), for the provinces of Bologna, Parma, Rimini and Modena, no main foreign buyer is clearly identified: this underlines a predominantly domestic market in these areas, although certain segments (second homes or heritage properties) attract specific profiles.
Investing on the Adriatic coast
The Adriatic seafront combines second homes and rental investment. The seasonal appeal extends to spring and autumn, driven by short stays and remote working. 🏖️
Ravenna, Rimini: second homes and tourist rentals
Two complementary profiles:
- Ravenna: cultural heritage, nature and family beaches, loyal clientele.
- Rimini: lively resorts, events and international tourism, high turnover.
- Sought-after properties: 1-2 bedrooms with balcony/terrace, parking, beach and shops within walking distance.
- Attention points: condominium rules for short-term rentals, managing peak season, exposure to noise and sea air.
- Lasting value: good insulation, efficient air conditioning, up-to-date inspections.
Profile of foreign buyers: focus on Ravenna
Foreign demand data from the Green-acres site shows a notable profile for Ravenna: foreign buyers represent an identifiable share, dominated by Germany (≈21%) followed by France (≈16%).
The median price observed on these demands is around €280,000 for a median declared surface of about 338 m², that is, a median price per m² close to €828/m² — a sign of a second home and more spacious property market than the coast’s average.
Growth in seasonal rentals since 2022
Since 2022, the rise in local tourism and flexible stays has supported seasonal rentals. Occupancy periods are lengthening, with better visibility in spring and off-season.
- Management: entrust to a local operator or automate (check-in, cleaning, dynamic pricing).
- Differentiation: sustainable furniture, fast Wi-Fi, workspace, possibility of monthly stays.
- Quick method to assess a purchase: estimate gross income over 12 months, subtract expenses (condominium, maintenance, tax, management), include a renovation/energy budget, then compare to capital cost.
Real estate market forecasts in Emilia-Romagna
The trajectory should remain moderately upward, with local cycles. Well-served and energy-efficient sectors outperform, while properties needing renovation face a steeper discount.
Sustained demand thanks to a solid regional economy
Emilia-Romagna benefits from a diversified and export-oriented economic base, supporting employment and real estate demand.
- Growth drivers: industry and services, universities, tourism, infrastructure.
- Risks to watch: rate trends, local rules on short-term rentals, coastal climate exposure.
- 2030 strategies: target « 15-minute » locations, favor higher energy classes, balance yield and liquidity depending on the city.
