by InTrieste
The real estate market in Trieste, a city historically known for its blend of Italian, Slavic, and Austro-Hungarian influences, is experiencing an unprecedented boom. Property prices have been steadily climbing, showing no signs of slowing down. Sales, too, are happening at a rapid pace. On average, properties are sold within two weeks of being listed, highlighting the city’s increasing appeal.
Caterina De Paolo from Gallery Immobiliare told InTrieste that apartments rarely stay on the market for more than one week, while villas are sold within a month. She added that many foreign buyers are investing in Trieste with the intention of renting out their properties to generate extra income. This trend has contributed to the city’s rising popularity among international investors.
Among the more novel developments in Trieste is the rise of “open days,” a practice borrowed from the Anglo-Saxon world. These events invite all interested buyers to visit a property at the same time, often followed by a refreshment or informal gathering. While common in markets like the U.S. and U.K., this trend has only recently started to take root in the city. International franchise agencies have been quicker to adopt this approach, though local agencies are also beginning to embrace it as a way to streamline the buying process.
Prices for first-time homebuyers in Trieste now range between €2,500 and €3,000 per square meter—about half the price of real estate in nearby cities such as Ljubljana or Budapest. This relative affordability has caught the attention of foreign buyers, particularly from Slovenia and Hungary. Serbs have also shown significant interest in Trieste’s burgeoning market, and many of these international buyers are frequent participants in open house events.
However, there is another side to this real estate surge. Marco Canciani from CGL warned that the sharp rise in prices has made it nearly impossible for university students to find affordable rentals in downtown Trieste. As investors snatch up properties for short-term rentals, the availability of long-term housing for locals, particularly students, has dwindled.
The global nature of today’s real estate market is also evident in the willingness of some buyers to purchase properties without ever stepping foot inside them. Virtual tours and online listings have led to a new trend: buyers making decisions based solely on digital views of a home.
For Trieste, this surge in real estate interest reflects broader economic trends in the region. While the city remains less expensive than other European capitals, its charm, rich history, and strategic location on the Adriatic make it a desirable place to invest.
But as prices continue to climb, the question remains: How will Trieste balance its booming investment appeal with the housing needs of its residents?
