The Pantheon in Rome Italy – Episode #107
Welcome to Rome, Italy…commonly referred to as the “The Eternal City”. I am standing in front of one the best preserved of all Roman buildings…The Pantheon! Almost two thousand years after it was built, the Pantheon’s dome is still the world’s largest unreinforced concrete dome. Since the 7th Century, the Pantheon has been used as a Roman Catholic Church.
Rome is a massive city and just like other major cities in Europe and the world, real estate prices have a large spectrum. I’ve seen apartments starting as low as 70,000 Euros and rents starting at 800 Euros per month. Average prices surrounding Rome ranged between 450,000 – 600,000 Euros, while rents averaged between 1,800 – 2,500 Euros per month. On the higher end, I saw places across the street from the Colosseum that started at 5,000,000 Euros and where rents started at 5,000 Euros per month. These prices were very typical of a Major City…similar to The Greater Toronto Area. The biggest difference being the architecture. In this video, I show you what some typical apartments look like from the outside in Rome.
In this dense city, there is so much history that I sometimes wonder how to justify some of their real estate prices. Having seen several apartments, it will be a challenge to cash flow positively in Rome, but it will depend on several factors, namely your down payment, exact location, and type of investment strategy i.e. furnished versus unfurnished. Perhaps a second home away from home would work best here.