Italy · ITA · snapshot 2026-10-06
Italy
Measured
Currency movement
Not measured
This market's currency is the euro, so there is no euro reference rate for it and no entry window to state. For a euro-denominated buyer there is no currency move here at all; for anyone else the move is in their own currency against the euro, which this screen measures on the market they are coming from rather than the one they are going to.
Foreign-buyer rules
1 of 1 published rules apply
These are the restrictions a foreign buyer meets before price is even discussed — approval regimes, surcharges, ownership limits.
What it does not show. It is not a completeness claim. A rule we have not read is not a rule that does not exist, and this row counts what is cited, not what is in force.
Cost of money
2.25%
The price of money to banks across the euro area, set by the European Central Bank rather than by anything in this country. It sets the floor everything else is priced from, and it is identical in every member state.
What it does not show. It is not a mortgage quote, and it is not a fact that distinguishes this market from any other euro-area member — the rate is the same in all of them, so it can never be the reason to prefer one over another. What differs between them is what a bank adds on top, which this does not measure. What a non-resident is offered is a different number again, usually much higher.
Supply against absorption
Not measured
No statistics agency for this market has been read and cleared for republication.
Residential price cycle
95.5 against a 2015 base of 100
House prices have risen more slowly than consumer prices since 2015, or fallen — the market is below its own inflation-adjusted level of that year.
What it does not show. It is a position, not a direction, and it is not a valuation. Deflating by consumer prices says nothing about what the asset yields or what credit costs, and a market can sit above its 2015 level for years without that meaning anything is due.
Valuation against its own history
90.1 to income, 93.4 to rent
Housing costs less relative to incomes than it did in 2015, on this country's own index. Affordability has improved against the local salary, which can mean prices fell or that incomes rose faster — the ratio does not say which.
What it does not show. It is not comparable to another country's figure. Each index is 100 in its own 2015, so two of these side by side are two different base years wearing the same label — a market at 120 is not dearer than one at 90, it has merely moved further from its own past. It is also not a forecast, and a ratio can stay stretched for a decade.
On the market now
Not measured
No listings platform has been read for this market. The one platform this site can read covers Russian cities only, and inventing a count for anywhere else would be worse than an empty row.
No dossier has been written for this market yet. What follows is the measured layers and the rules, each with its source — not an argument about whether to be here. A market reaches this page as soon as two layers can be cited, because an unwritten thesis is a reason to publish less, not a reason to publish nothing.
The series behind those figures, and the workings
Cost of money
2.25%
Central bank policy rate, 2026-08. Source: Bank for International Settlements.
This is the price of money to banks, not the price of money to a non-resident buying a building. The gap between those two is where a market’s financing story actually lives, and it is not in this number. A mortgage quote for a foreign buyer depends on the lender, the asset and the borrower, and no public dataset carries it.
BIS terms permit this figure on a free page and state that nothing in their statistics constitutes investment advice. They also allow inclusion in a commercial product only where it adds no charge, so this series is published here and is not priced into any paid work.
Background
Annual national statistics from the World Bank, under a licence that permits reuse with attribution. They describe the country; they do not time an entry, and they are not counted as measurements of this market — otherwise every territory on earth would claim to be measured on the strength of one dataset.
| Indicator | Value | Year |
|---|---|---|
| GDP per capita | 43,309 US$ | 2025 |
| Consumer price inflation | 1.5 % | 2025 |
| Population | 58,915,656 | 2025 |
| Urban population | 69.7 % of total | 2025 |
| Official exchange rate | 0.8850 per US$ | 2025 |
What the rules do to a foreign buyer
Each entry cites the instrument and the authority page it was read from, with the date it was retrieved. Facts of law change; the retrieval date is how you know how old this reading is.
| Topic | How it fails you | In force | When it bites | Applies to | What applies | Instrument | Read on |
|---|---|---|---|---|---|---|---|
| Reciprocity, which asks about your country rather than about you | Somebody has to say yesMoney does not open itYou paid and hold nothing | In forcefrom 1942-03-16 | On the way in | All propertyBoth are asked | Article 16 of the General Law Provisions in Royal Decree 262 of 16 March 1942 says that foreigners are admitted to enjoy the civil rights attributed to citizens on condition of reciprocity, subject to special laws, and that this applies to foreign legal persons too. Buying property is such a civil right, so for a buyer inside the rule the question is not what the purchase costs but whether their own state affords an Italian the same right — a test about the counterparty state, decided outside the transaction. A wide set of buyers never reaches it. Natural and legal persons of European Union member states and of the EEA states Iceland, Liechtenstein and Norway are placed on an equal footing with Italians, as are non-EU citizens resident in Italy holding a residence card or a regular permit issued for employment, self-employment, a sole proprietorship, family, humanitarian or study reasons, stateless persons resident for at least three years, and refugees resident for at least three years. Where Italy has a bilateral investment treaty with the buyer's state, the settled reading is that the treaty is lex specialis and reciprocity is taken to exist for the matters it regulates — and the treaty definition of investment expressly includes ownership rights in immovable property. The residual case is the one to plan for: a non-EU entity with no Italian establishment and no investment treaty behind it, whose ability to take title turns on a verification it does not control. The Ministry states that what it publishes on this, country by country, has no legal value and is only a general indication. | Regio Decreto 16 marzo 1942, n. 262, Disposizioni sulla legge in generale, articolo 16, with Decreto Legislativo 286/1998 and D.P.R. 394/1999. Read from the Ministry of Foreign Affairs and International Cooperation's published guidance on rights and reciprocity. | 2026-09-06 |
What is missing, and why
currency — Source does not cover this market
The dataset simply does not include this territory. Absent, not zero.
This market's currency is the euro, so there is no euro reference rate for it and no entry window to state. For a euro-denominated buyer there is no currency move here at all; for anyone else the move is in their own currency against the euro, which this screen measures on the market they are coming from rather than the one they are going to.
supply — Source does not cover this market
The dataset simply does not include this territory. Absent, not zero.
No statistics agency for this market has been read and cleared for republication.
What supports this, what would make it wrong, and how it could go
Record
| Why this market is on the list | Added when the euro area was expanded into its member states. The cost-of-money layer here is the European Central Bank's rate, which is not a fact about this country in the way a national policy rate is a fact about Japan — it is identical in all twenty-one members and can never be the reason to prefer one over another. It is published because its absence was worse: without it this territory rendered on the coverage map exactly like one whose central bank publishes nothing at all. The valuation layer is this country's own, indexed to its own 2015. Euro adopted 1999. The friction layer was opened on 2026-09-06 from the Ministry of Foreign Affairs' own page on the condition of reciprocity. Italy has no foreign-buyer tax and no permit regime, and it does have a rule that can stop a purchase outright depending on which state the buyer belongs to. |
|---|---|
| Dossier | None written. Layers and rules only, which is why this market reads as “Measured” rather than reviewed. |
| Next review | 2026-11-15 |
| Evidence snapshot | 2026-10-06 |