The regional capital of history and culture
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As the capital and largest city in Northern Italy’s Emilia-Romagna region, Bologna is an important urban center. The 7th most populous city in the country, it has a population of about 366,133, while its metropolitan region has over 1,000,000 people. Named by UNESCO as the city of music, Bologna was Europe’s capital of culture in 2000. For this reason, it draws thousands of tourists every year. Home to Europe’s oldest university, the city places a strong emphasis on education and attracts a large student population from across the globe. Bologna’s thriving economy is ranked 47th in Europe and 1st in Italy for growth rate. Overall, Bologna is a great place to invest in real estate.
Culture, History, and Business
Started in the 6th century, Bologna was originally named Felsina. Gaul tribes captured the town after it had served as Etruscan Po’s capital for two centuries. Hundreds of years later, Romans took over the area. With the crumbling of the Western Empire, the town was captured by Visigoths, Huns, Goths, and Lombards in that order. Bologna reached its summit in the 12th century, with buildings being built all over the area. The Holy Roman Empire took over the city in 1506 until Napoleon captured the area in the 18th century. While a good number of the industrial buildings of the city were destroyed during WWII, most of the historic town remains intact to date. Today, Bologna is a hi-tech and trade center in Italy.
Bologna also boasts an intense cultural life and a fascinating historical heritage. The city has preserved Europe’s first university. In 2006, UNESCO declared Bologna the city of music. In 2000, it was named the European Capital of Culture by the European Union. The city’s characteristic porticoes are among the most important symbols of heritage. Also, visitors can see panoramic views of the area through Bologna’s towers. Moreover, the city celebrates and preserves its culture through gastronomy, events, music, festivals, theaters, and libraries.
Bologna isn’t just great in history and culture. It’s a charming business hub. The city’s booming industrial economy is ranked 47th in Europe and 1st in Italy for growth rate, with the manufacturing and food processing industries leading the way. The city has attracted several big firms, such as Ducati, Maserati, Lamborghini, the Hera Group, and Bonfiglioli. Bologna is also home to a number of universities, some of which are the University of Bologna, Selinus University of Science and Literature, and the University of Lille.
Real Estate Appeal
Bologna offers a great investment opportunity. The city has several tourists visiting annually. Moreover, the demand for housing accommodation is very high. An average apartment close to the city center can fetch between €690 and €1000 per month in rent. In December 2018, the property price per square meter in Bologna was €2678. The value increased to €2882 nearly one year later. Experts predict that this trend will continue in the coming years. With a variety of services and amenities, it’s not hard to convince tenants to rent your properties in the city. Bologna is one of the hottest real estate markets to invest in.
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