Italy rental yields in 2026: the published figures, and what comes off them.
// Short answer
Global Property Guide puts Italy's average gross rental yield at 6.61% in Q3 2026, with Rome at 6.59%, Milan 4.97% and Florence 5.25%. Those are gross figures from asking rents and asking prices, not what an owner keeps, and not a Brinkman Data calculation. The same source says net is typically 1.5 to 2 points lower.
Rules and rates as of September 2026. IMU is set by each comune and income tax articles are renumbered from 1 January 2027, so check the dated items again before you sign. Every figure links to its source.
On this page
- What is the average rental yield in Italy?
- What are rental yields in Rome, Milan and other Italian cities?
- Why does a citywide yield average mislead in Italy?
- What comes off a gross rental yield in Italy?
- Can a foreign owner run an Italian property as a short let?
- How long are residential leases in Italy?
What is the average rental yield in Italy?
Global Property Guide puts Italy's average gross rental yield at 6.61% for Q3 2026, down from 7.23% in Q1 2026. The figure is median asking rent times 12 over median asking price, from a local listing platform. The same source says net is typically 1.5 to 2 points lower. It is not a Brinkman Data calculation.
For official rent and price benchmarks by zone, the Agenzia delle Entrate's Osservatorio del Mercato Immobiliare (OMI) publishes six-monthly values for the whole country.
Sources
What are rental yields in Rome, Milan and other Italian cities?
Per Global Property Guide's Q3 2026 data, average gross yields are Rome 6.59%, Milan 4.97%, Florence 5.25%, Turin 6.71%, Naples 6.16%, Palermo 7.84% and Catania 8.75%. All are gross, from asking rents and asking prices.
| Market (Global Property Guide, Q3 2026) | Average gross yield |
|---|---|
| Italy | 6.61% |
| Rome | 6.59% |
| Milan | 4.97% |
| Florence | 5.25% |
| Turin | 6.71% |
| Naples | 6.16% |
| Palermo | 7.84% |
| Catania | 8.75% |
Why does a citywide yield average mislead in Italy?
Because the spread inside one city is wide. In the same Global Property Guide data, a two-bedroom in Milan's Centro Storico shows 2.88% gross against 4.19% for a Garibaldi-Porta Venezia one-bedroom. In Naples a studio shows 9.81% against 4.03% for four bedrooms or more.
| Sub-market (Global Property Guide, Q3 2026) | Gross yield |
|---|---|
| Milan, Centro Storico, 2-bedroom | 2.88% |
| Milan, Garibaldi-Porta Venezia, 1-bedroom | 4.19% |
| Rome, Centro, 1-bedroom | about 5.7% |
| Florence, Centro, 1-bedroom | 6.04% |
| Naples, studio | 9.81% |
| Naples, 4+ bedroom | 4.03% |
The question that matters is never the city. It is the building, the unit size and the rent it can actually get.
What comes off a gross rental yield in Italy?
IMU at 0.86% base on the cadastral value of a second home, TARI waste tax, condominium fees, vacancy, and tax on the rent: IRPEF at 23% to 43% after a 5% reduction, or the 21% cedolare secca (10% on agreed-rent contracts). Short lets pay 26%, or 21% on one unit.
- IMU: each comune sets the rate between 0% and 1.06%, up to 1.14% in some.
- Lease registration: every residential lease over 30 days a year is registered with the Agenzia delle Entrate within 30 days.
- Tax on rent: detail in Italy property tax for foreigners.
Sources
Can a foreign owner run an Italian property as a short let?
Yes, within the national rules. Every unit let to tourists or as a short let needs a national identification code (CIN) from the Ministry of Tourism, shown outside the building and in every listing, plus gas and carbon monoxide detectors and fire extinguishers. From 2026, more than two short-let flats counts as a business.
Fines: letting without a CIN EUR 800 to 8,000; not displaying it EUR 500 to 5,000 per unit; missing detectors or extinguishers EUR 600 to 6,000 per violation. Italian agents and platforms that collect short-let rent withhold 21% as a payment on account. City-level limits are changing, so check the comune before you buy for short letting.
Sources
How long are residential leases in Italy?
A free-rent lease runs at least 4 years, renewed for 4 more (4+4), and the landlord can refuse the first renewal only for statutory reasons such as own use, works or sale. An agreed-rent (canone concordato) lease runs at least 3 years plus an automatic 2 (3+2), with rent set by local agreements.
Agreed-rent contracts unlock the 10% cedolare secca and, in many comuni, lower IMU. Transitory contracts are a separate, narrower category.
Sources
// Buying in Italy?
Every listing in your budget, ranked on net yield, appreciation and resale. Any market with public listing data; book a free call first so I can confirm your city has the data.
See the $499 report, page by pageFrequently Asked Questions
What is a good rental yield in Italy?
Is Rome's yield higher than Milan's?
Can I Airbnb my apartment in Italy?
How is short-let income taxed in Italy?
Header photo: acediscovery, CC BY 4.0, via Wikimedia Commons. All credits: image credits.