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QUALITY OF LIFE

SURVEY: Foreign residents rank Italy one of ‘worst countries in world’ for finances and working abroad

Foreigners who move to Italy are less satisfied with their financial situation than in any other country, a new survey of international residents has found.

SURVEY: Foreign residents rank Italy one of 'worst countries in world' for finances and working abroad
Some 30 percent of Italy's foreign residents say they're unhappy with their financial situation, against a 19 percent global average among expats. Photo: Tim Gouw/Unsplash

A third of foreign residents in Italy say their disposable household income is not enough to cover their expenses, according to the 2021 edition of the annual Expat Insider survey by InterNations, an information and networking site for people living overseas.

Italy fared poorly in the annual survey yet again, coming 58th out of 59 countries overall for living and working abroad. Only Kuwait placed lower. (Note: We have our own survey at the bottom of the page if you disagree.)

Its performance was especially dismal in the categories of work and personal finance, in which it placed second to last and last respectively.

READ ALSO: ‘You might not want to stay here, it’s crazy’: What to expect when you work for an Italian company

Some 42 percent of respondents reported making less than $25,000 per year, compared to the global average of 30 percent. And 30 percent of those surveyed in Italy said they were unhappy with their financial situation, versus just 19 percent worldwide.

“I notice financial corruption and do not like the low salaries,” wrote one respondent from the United States.

Italy also came bottom for “career prospects and satisfaction”, with more than half of foreign residents (56 percent) rating their work opportunities negatively and nearly a third (31 percent) saying they were dissatisfied with their current job.

Among the complaints were lack of job security, a weak local economy, inflexible working hours and poor work-life balance.

READ ALSO: ‘Smart working’? Here’s what you need to know about going self-employed in Italy

“Finding a job is not easy for foreigners, not even for the well-educated ones,” said an Iranian respondent.

Unsurprisingly Italy got its highest marks for quality of life, and especially weather, travel and leisure options. But even in this area, lack of high-speed internet and the difficulty of doing admin online dragged down its score.

More surprisingly, given the complaints about personal finances, Italy also did well on cost of living, placing 32nd out of 59. Foreign residents were particularly impressed by the price of healthcare, with more than two-thirds (67 percent) saying it was affordable.

About the same proportion (66 percent) said they were happy with their life in Italy in general – which, though a majority, is noticeably less than the 75 percent who report being satisfied worldwide.

Italy repeatedly scores poorly in the annual InterNations survey, with work and earnings reliably one of the biggest sources of foreign residents’ complaints.

Image: InterNations Expat Insider 2021 Survey

It slipped a few more places between the 2020 and 2021 rankings, though InterNations cautions that this year’s results have been exceptionally affected by the Covid-19 pandemic.

The top three countries chosen by international residents were Taiwan (1st), Mexico (2nd) and Costa Rica (3rd), while Italy (58th) was joined at the bottom by Kuwait (59th) and South Africa (57th).

For its 2021 survey, InterNations asked more than 12,000 people living abroad to rate up to 37 different aspects of life in their new country. Each country included was rated by at least 50 respondents.

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MOVING TO ITALY

How can you find an apartment to rent in Milan?

With its thriving job market and international allure, Milan is one of the most popular Italian cities for foreigners to move to, but finding a place to rent can be complicated.

How can you find an apartment to rent in Milan?

With its wealth of job opportunities and international appeal, Milan is one of the most popular Italian cities among foreigners.

The northern economic powerhouse is home to over 475,000 foreign nationals (around 14.7 percent of the city’s total population), including ​​a sizeable group of native English speakers.

But high demand for accommodation, high prices (monthly rent in the city comes at an average of around €25 per square metre – that’s over €12 above national average) and housing shortages all make finding a place to rent a challenging task.  

Italian rental contracts

Before actually starting to look for an apartment, it’s generally advisable to get familiar with Italy’s most popular rental agreements, or contratti di affitto in Italian. 

Excluding tourist lets (contratti turistici), which range from a minimum of one day to a maximum of 30 days, the shortest available rental agreement is the transitory contract, or contratto di locazione ad uso transitorio

This lasts a minimum of one month up to a maximum of 18 months, and comes with an important caveat: you’ll need to specify and prove that you have a specific, non-tourism-related reason for your temporary stay, like an apprenticeship, a short-term work contract, or degree program. 

If you’re a student attending a university, you may also be able to sign a student contract (contratto di locazione per studenti universitari), which can last between six months and three years.

Two tenants pictured inside their flat in January 2021

Two tenants pictured inside their flat in January 2021. Photo by Ludovic MARIN / AFP

Finally, if you’re looking for longer-term agreements, you have two main options: 

  • Unrestricted contract (contratto a canone libero). This lasts for four years, with an automatic option to renew for four more. The rental price is freely set by the landlord.
  • Determined contract (contratto a canone concordato). This lasts for three years with an automatic option to renew for two more. Rent in this case is set by the relevant municipality (or comune) and cannot be negotiated.

For further info on both of the above contracts, see our article on the topic.

Regardless of which type of contract you sign, you should always make sure there’s a clause that allows you to move out after a specified notice period (this is usually a full six months).

Using an agency

Once you’re familiar with the types of contracts available, you can start your search. 

Milan has plenty of agenzie immobiliari that can help you find your future home, with some specialised in assisting international customers (for instance, Renting Milan).

These agencies will do the work of finding and connecting you with potential properties, and negotiate the terms of the contract on your behalf. They may also know about some properties before they hit the open market, giving you a leg up on the competition.

But there are some downsides too. Properties let through rental agencies can be more expensive, as the owners must cover the costs of their own fees to the agency.

READ ALSO: How much does it cost to live in Milan in 2024?

Further, rental agencies will generally take a commission equivalent to one or two months’ rent from the tenant, which can make initial expenses rise very fast when added to the apartment’s security deposit (usually two months’ rent).

Searching online

If agency fees look a little too steep – or if you just want to explore every option – there’s an increasing number of online rental portals that you can check out.

These sites often offer a mix of properties proposed by rental agencies and apartments rented directly by owners. Some of the most popular ones for renting are Idealista, Immobiliare, Casa and Bakeca

All work more or less the same way: select your area, filter by cost, number of rooms, and other details, and see what’s available.

Quite conveniently, some of these websites feature maps showing statistics on rental price per square metre by neighbourhood. This can be useful to ‘zone in’ on certain areas of the city or simply to judge whether the rent being requested by a landlord is reasonable. 

Rental prices by neighbourhood in Milan.

Rental prices by neighbourhood in Milan. Screengrab from Immobiliare.it

You’ll also find listings posted on classifieds sites like Subito, and even on Facebook groups like Milano Easy Renting and Affitti Milano, though most posts will be in Italian (some key Italian renting vocabulary can be found here). 

If you do use social media for your search and find yourself dealing directly with landlords, it’s generally advisable that you keep an eye out for scams at all times. As a rule of thumb, you should never hand out money without visiting the apartment and signing a contract first.

Finally, if you’re ever unsure about the legitimacy of a listing or have any other doubts about a specific apartment or neighbourhood, seeking out advice from people already living in the city is generally well worth the effort.

How much can I expect to pay?

Renting in Milan doesn’t come cheap. 

According to data from property market portal Wikicasa, monthly rent in the city comes at an average of around €25 per square metre – that’s nearly €7 over Lombardy’s average, and more than €12 higher than national average. 

But rent can be as high as €60 per square metres in the more central areas (Duomo, Cadorna, Cordusio, Castello Sforzesco, etc.).

READ ALSO: What are the best Milan neighbourhoods for international residents?

According to Numbeo estimates, renting a one-bedroom flat in the city centre will set you back over €1,400 a month on average, while renting the same type of flat in the outskirts will come at an average monthly price of around €950.

If you have any suggestions on how to find a place to rent in Milan, please share them in the comments section below. 

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