Rental price drops in Italy the worst in Europe

Rental prices on one bedroom apartments have dropped throughout Europe due to the COVID-19 pandemic.

Italian cities experienced the biggest drops in rental prices of the cities analysed.

Milan, the region where the virus struck the country the hardest, saw rents fall by 7.8% between the first and second quarter. They also dropped by 7.8% in Turin and 6.9% in Florence.

It appears rents held up more in England than elsewhere, as London rents only fell by 0.6%.

There was also a 5.0% fall in Berlin, Germany, and 2.4% in Valencia, Spain.

There are some exceptions.

Rental prices rose by 3.5% in Vienna, Austria, meanwhile they stayed flat in Reykjavik, Iceland and Helsinki, Finland.