Often, elevators are simply associated with a means that aids daily vertical mobility. However, it is rarely emphasized how this element can create value from a real estate perspective: it is a true investment. This aspect was the starting point of an important investigation by a well-known real estate company which posed the question: “How much more does it cost to purchase a property with an elevator in Italy?”
According to this 2024 analysis, houses with elevators in Italy have an average price that is 21% higher than those without. Translated into figures, this means around 2,400 euros per square meter compared to 2,000 euros per square meter for buildings without an elevator. The price difference is more evident in the South and in Sicily, with the city of Bari leading: the cost of apartments with elevators is 54% higher than those without. Following in this particular ranking are Palermo (+51%), Catania (+35%), and Naples (+34%). Among the major cities in the North, only Turin reaches similar levels, with an increase of 39% for properties served by elevators. In contrast, Genoa records an increase of 28%, Verona 23%, while in Milan and Rome the extra costs are 16% and 11%, respectively. The smallest difference is in Florence, where the increase is just 10%, likely linked to the historical value of the properties.
Looking to the past, there is a change; in fact, compared to 2019, house prices with or without elevators have grown similarly at the national level (+10.2% and +10.7%). However, there are significant variations: Venice and Milan, for example, where houses without elevators have recorded larger increases: +56% and +51.5%, compared to +36.5% and +40.3% for houses with elevators. On the contrary, in cities like Bari and Naples, properties with elevators have shown a greater increase in value than those without. In some cities, like Catania and Genoa, there has even been a decrease in prices compared to five years ago.
Obviously, these are data that do not take into account some elements that can themselves modify the price of a property but represent a point to once again emphasize how advantageous having an elevator can be.
