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The number of transactions in the residential real estate market in Italy decreased in 2023, after a slight surge the year before. With ** property sales, 2023 saw one of the highest transaction activity during the observation period. When looking at regional figures, Lombardy accounted for almost one in four transactions in the residential real estate sector.

Impact of the coronavirus pandemic on the market

During the coronavirus pandemic, the market contracted, with the number of transactions falling by *** percent. That was followed by home sales surging in 2021, by more than one third. The market slowed down in 2022, but all regions, except for Emilia Romagna,  recorded an increase in terms of transactions value. When looking at absolute numbers, Lombardy performed the best: the transactions’ value in the residential real estate sector in the region amounted to approximately ** billion euros.

Lazio, Liguria, and Tuscany: the most expensive regions

Lombardy might be leading in terms of total transactions value, but it is not the region with the most valuable residential properties. In fact, calculations about the average price of transactions in the sector reveal that Tuscany, Lazio and Aosta Valley have the most expensive properties in Italy. In 2023, all three regions registered an average transaction value of about ** euros.