One of the significant effects of the construction of the tram network is the surge in property values in Florence. The city’s real estate agencies are actively assessing which areas are more likely to experience an increase in property valuations. With the initiation of works for Line 3, Bagno a Ripoli and Gavinana are emerging as the primary contenders for this trend. Additionally, buildings along the future Line 4, extending to Campi Bisenzio, have garnered notable interest. Gianluca Testa of Immobiliare Punto e a Casa notes, “Individuals who previously didn’t consider areas like Statuto and Careggi have now witnessed a remarkable 10% increase in property value thanks to the tram project. It is expected that this effect will also extend to areas like Viale Spartaco Lavagnini and the entire south zone of Florence affected by the tramway.” In a city where property values have maintained significant stability over the last decade, the influence of the new tram lines is becoming increasingly evident in the real estate market. The Granducato Immobiliare agency asserts, “In the near future, the presence of the tram in popular areas like Piagge, Via Pistoiese, and Campi Bisenzio is expected to lead to a growth of up to 15% in property values.” Immobiliare Maraldi, an agency operating in Bagno a Ripoli, adds further details, “From the Pino stop to Viola Park, we expect a doubling of demand. However, there remains a concern related to the scarcity of available properties. As a result, many buyers are exploring areas like San Donato in Collina, Antella, Cellai, and Troghi, where properties can currently be purchased at 1500 euros per square meter.” Some investors are betting on Piazza Gualfredotto, while others are showing interest in Varlungo and Piazza Ravenna. However, these areas will have to contend with construction noise and potential traffic congestion, concerns for some residents of District 3.

As reported by Repubblica, the Tecnocasa Group explains, “The over one thousand days of construction work could cause congestion in the neighborhood. With less space and fewer parking spots, an increase in prices for parking spaces and garages is anticipated.” Immobiliare Maraldi emphasizes, “Some homeowners are already selling their properties between Via Kyoto and Via Kiev, partly due to concerns about construction noise and partly because they have not understood the mobility diversions.” This area has already witnessed an increase in prices of almost 1% in the second quarter of 2022 for entire buildings. Even just four used walls now start at a minimum of 3000 euros per square meter. Other areas affected by the new tram lines also testify to the increase in property prices. For example, Novoli and Statuto have witnessed a revival in property values over the last few years, with several industry operators reporting increases “ranging from 5 to 10% for homes available for sale and rent,” despite some areas experiencing prior devaluation. Take, for instance, the upper floors of Via Vittorio Emanuele. “Narrow streets and the constant flow of vehicles in front of homes do not help,” remarks Testa. Expanding our perspective, however, reveals that upscale four-room apartments now command prices starting at a minimum of 4000 euros per square meter.

The rise in interest rates on loans is applying pressure across the entire sector, resulting in increasing difficulties in obtaining bank mortgages for potential homebuyers. The fluctuating prices in the popular neighborhoods of Florence are also generating significant interest. Italiana Immobiliare Novoli reports, “In the last year, there has been an increase in prices of at least 20%.” Now, in front of a Via di Novoli tram stop, an 80-square-meter four-room apartment in need of renovation starts at 260,000-290,000 euros. District 5, in conjunction with Isolotto, has witnessed a revaluation of between 5% and 10% since the introduction of the tram, according to Attilio Annunziata of Dentrocasa. These estimates are corroborated by Italiana Immobiliare Isolotto, stating that “In the past three years, property rates along Viale Talenti and Piazza dell’Isolotto, just a stone’s throw from the tram, have risen by approximately 10%.