Per-room or whole-flat letting?

Per-room is the local norm for student stock and yields more gross — with more management, more turnover and more regulatory attention.

Is the centre restricted?

Increasingly, for short lets. The long-let and student market is the policy-favoured direction. Model that, not a tourist calendar.

Italy · EUR

Bolognareal estate

Bologna runs on Europe’s oldest university and the Emilian logistics corridor. Kilometres of UNESCO porticoes, and a student rental book that is the real engine.

Rome Milan Florence Turin Naples

Notaio-verified path

Cadastral rendita checked

3D map

9% / 2%registro: second home vs prima casa

Renditacadastral value is the tax base on resale

Codice fiscalerequired before the notaio will close

IMUannual municipal tax on non-primary homes

What a purchase really costs

€300,000 home in Bologna

Imposta di registro (second home) (9%): €27,000
Notaio (≈1.5%): €4,500
Imposte ipotecaria & catastale: €600
Agency, buyer side (3% + 22% IVA): €10,980
Cash needed at the notaio: €343,080

≈ +14.4% over the price. Registration tax is 9% for a second home and 2% under prima casa relief — and on a resale between private parties it is charged on the cadastral value (prezzo-valore), which is usually well below the price you pay. Prima casa is for people who move their residenza within eighteen months, not for holiday buyers.

Rentals run on rules

The rent side, in three lines

The 4+4 contract is the default: four years, renewed four more unless the landlord has a statutory reason.
Cedolare secca lets a landlord swap progressive IRPEF for a flat substitute tax, but freezes the ISTAT indexation.
Every lease must be registered with the Agenzia delle Entrate — an unregistered contract is void against the tenant.

Eviction runs through the court calendar, not the contract. Underwrite the timeline, not the brochure yield.

Cities

Six metros, one national deed

Registration tax is national; the base, the IMU rate and the condominio are local. A Milan yield and a Naples yield do not survive the same spreadsheet.

A large share of the resident population is students, which makes the per-room long-let the dominant investment product and makes September the only month that matters for leasing.

The comune has tightened short-term letting inside the historic centre and pushed housing policy toward student and resident supply. Porticoed buildings carry shared maintenance obligations that show up in the condominio budget.

The logistics and mechanical-engineering belt around the city gives a second, non-student demand base that Florence and Turin do not have in the same form.

FAQ

Per-room or whole-flat letting?: Per-room is the local norm for student stock and yields more gross — with more management, more turnover and more regulatory attention.
Is the centre restricted?: Increasingly, for short lets. The long-let and student market is the policy-favoured direction. Model that, not a tourist calendar.

All markets: sivrce.com · Georgia marketplace: sivrce.ge · Prices and availability are published only when a verified listing exists. Market currency: EUR.