Much Do Apartments Cost in Florence?

Florence, the capital of Tuscany, remains one of the most attractive cities in Italy for real estate investment. Its rich cultural heritage, unique architecture, and high quality of life draw both locals and international buyers. In 2025, apartment prices in Florence continue to rise, with the market remaining active due to high demand and limited supply. This article explores the cost of apartments in different areas of the city, the characteristics of the local real estate market, and key factors affecting housing prices.
Current Real Estate Market Overview
The real estate market in Florence is characterized by steady price growth. The average price per square meter is approximately €4,500, making Florence one of the most expensive cities in Italy. In central areas, prices can be even higher due to high demand and limited opportunities for new construction. Despite the high prices, interest in Florence real estate continues to grow, fueled by the city’s popularity with tourists and the income potential from rentals.
Key factors influencing the Florence real estate market include:
1. Tourism and Rentals. Florence’s popularity as a tourist destination creates strong demand for short-term rentals.
2. Interest from Foreign Buyers. Buyers from Europe, the U.S., and Asia actively invest in housing, viewing it as a reliable asset.
3. Limited Supply. Strict heritage preservation regulations restrict new construction, keeping prices high.
Apartment Prices by District
The cost of apartments in Florence depends significantly on their location. Below are the main districts of the city:
1. Historic Center (Centro Storico).
This district includes Florence’s main attractions, such as the Santa Maria del Fiore Cathedral, Ponte Vecchio, and Piazza della Signoria.
The average price per square meter ranges from €6,000 to €8,000.
Small apartments of 50 m² cost €300,000 to €400,000, while luxury apartments can exceed €1,000,000.
2. Oltrarno.
Located across the Arno River, this area is known for its tranquility and bohemian vibe.
Prices range from €4,000 to €6,000 per square meter.
A 70 m² apartment costs approximately €300,000 to €450,000.
3. Fiesole.
This district, situated on the hills, offers stunning views of the city.
Prices per square meter are between €5,000 and €7,000, while villas and spacious apartments start at €700,000.
4. Campo di Marte.
A peaceful residential area popular with families.
Prices range from €3,500 to €4,500 per square meter.
An 80 m² apartment can be purchased for €250,000 to €300,000.
New Developments vs. Resale Properties
Depending on budget and preferences, buyers can choose between new developments and resale properties:
1. New Developments.
Mainly located on the city outskirts.
Modern buildings with energy-efficient technologies are priced around €4,500 to €5,500 per square meter.
These apartments appeal to younger buyers and those who prioritize modern comforts.
2. Resale Properties.
The historic center is dominated by older buildings with unique architecture.
Prices range from €3,500 to €8,000 per square meter.
Many properties require renovation, increasing post-purchase expenses.
Renting as an Alternative
For those not ready to purchase, renting is a viable option. Average rental prices in Florence are:
• One-bedroom apartments: €800 to €1,200 per month.
• Two-bedroom apartments: €1,200 to €1,800 per month.
• Apartments in the center or with views of the Arno: starting from €2,000 per month.
The popularity of short-term rentals through platforms like Airbnb makes the rental market particularly dynamic.
Additional Costs of Buying
Purchasing real estate in Italy involves additional expenses that buyers should consider:
1. Purchase Tax.
For residents: 2% of the cadastral value.
For non-residents: 9%.
2. Notary Fees.
These typically amount to 1–2% of the purchase price.
3. Agency Commission.
Usually 3–5% of the property value.
4. Renovation Costs.
Restoring historic buildings can cost between €1,000 and €2,000 per square meter.
Future Trends and Prospects
Experts predict that the Florence real estate market will remain stable due to the city’s tourism appeal and limited supply. Investors are increasingly focusing on areas outside the historic center, where prices are more affordable but demand is also rising. The tourism sector will continue to drive short-term rental activity, making property purchases a profitable investment.
Florence offers a unique combination of history, culture, and investment potential. Whether you’re looking for a modern apartment on the city’s outskirts or a historic residence in the center, the market has options to suit a range of budgets and preferences. Considering the steady growth of the real estate market, purchasing property in Florence remains an attractive choice for those seeking both lifestyle and financial returns.