Bare ownership (nuda proprietà) still represents a marginal share of the Italian property market. According to idealista’s Research Department analysis for the second quarter of 2026, bare ownership listings account for 0.6% of the country’s total residential stock.
This confirms the niche nature of this type of property sale, although there are notable concentrations in certain urban areas and, in some markets, very substantial price differences.
Where bare ownership is concentrated
The analysis of provincial capitals with a statistically significant number of listings reveals a far from even distribution. Trieste tops the ranking by percentage of total stock, at 3.8%, followed by Rome at 3% and Naples at 2.1%.
The picture is completed by Bari and Cagliari at 1.8%, Livorno at 1.7%, Bolzano, Savona, Genoa and Milan at between 1.5% and 1.6%, and Bologna, Florence, Turin and Verona at between 1.3% and 1.4%.
The geography of the trend reflects two separate, often overlapping factors.
- On one hand, there is pressure in the property market, making bare ownership a way to release capital in high-demand areas.
- On the other, there is the demographic profile of the population, with cities such as Trieste, Genoa and Savona having some of Italy’s oldest populations.
Bare ownership in Italy’s main property markets
|
Average price (€ per m²) |
Bare ownership price difference |
||
|---|---|---|---|
|
Trieste |
3.8% |
€2,552.00 |
−41.0% |
|
Rome |
3.0% |
€3,784.00 |
−24.0% |
|
Naples |
2.1% |
€3,044.00 |
−11.0% |
|
Cagliari |
1.8% |
€2,603.00 |
−24.0% |
|
Bari |
1.8% |
€2,204.00 |
−29.0% |
|
Livorno |
1.7% |
€2,295.00 |
−29.0% |
|
Genoa |
1.5% |
€1,790.00 |
−11.0% |
|
Milan |
1.5% |
€5,757.00 |
−26.0% |
|
Florence |
1.4% |
€4,794.00 |
−38.0% |
|
Bologna |
1.4% |
€3,798.00 |
−34.0% |
|
Verona |
1.3% |
€3,005.00 |
−21.0% |
|
Turin |
1.3% |
€2,219.00 |
−31.0% |
Source: idealista/data
Price differences in provincial capitals
In provincial capitals with a sufficient number of listings, bare ownership properties consistently come with a lower price per square metre than properties sold with full ownership.
The largest differences are seen in Trieste (-41%), Florence (-38%), Bologna (-34%) and Turin (-31%). They are followed by Bari and Livorno (-29%), Milan (-26%), Rome and Cagliari (-24%), and Verona (-21%). Smaller differences are found in Palermo (-12%), Genoa and Naples (-11%).
It is worth bearing in mind that bare ownership is an inherently varied market segment. The value of a property sold under this arrangement depends heavily on the age of the usufruttuario — the person retaining the right to use and live in the property — as this determines when the buyer will be able to take full possession of it.
These are also often older homes, with larger layouts than the average property currently on the market.
The provincial picture
Analysis at provincial level confirms, and in some cases increases, the differences already recorded in the provincial capitals. The provinces with the widest gaps between bare ownership and full ownership are Lucca (-51%), Savona and Trieste (-40%), Brescia (-38%), Padua (-33%) and Livorno (-32%).
Significant figures are also recorded in the provinces of Monza-Brianza (-29%), Florence, Verona and Rimini (-28%), and Bologna (-27%).
A recurring pattern emerges in the larger metropolitan markets: the price difference between bare ownership and full ownership tends to narrow outside the provincial capital.
In Rome, the discount falls from -24% in the city to -11% across the province; in Milan, it drops from -26% to -14%; in Turin, from -31% to -17%; in Florence, from -38% to -28%; in Bologna, from -34% to -27%; and in Bari, from -29% to -11%.
This pattern is likely to reflect the structure of market prices. In provincial capitals, where full-ownership values are higher, the percentage discount on bare ownership is greater than in the surrounding provincial area.
A trend set to grow?
Bare ownership’s current limited share of the market does not rule out gradual growth in the coming years. An ageing population and the increasing need to turn property wealth into cash to cover long-term costs could lead to a more established supply. This is particularly in cities where a tight property market and an older demographic profile already coincide most clearly.
Methodological notes
The analysis focuses on provincial capitals and provinces with at least 10 active bare ownership listings in the second quarter of 2026.
For certain provincial capitals — Bolzano, Savona and Brescia — bare ownership stock is significant, but the average unit price is not statistically available. The price difference is therefore not reported.
Source: https://www.idealista.it/