The Jubilee Year, also known as the Holy Year, is a significant event in the Catholic Church, traditionally celebrated every 25 years.
During this special time, believers embark on pilgrimages to the four major papal basilicas in Rome: St. Peter’s Basilica (San Pietro) in Vatican City, St. John Lateran (San Giovanni), Santa Maria Maggiore, and St. Paul Outside the Walls (San Paolo Fuori le Mura).
The 2025 Jubilee Year is anticipated to welcome approximately 30 million pilgrims and visitors from across the globe, transforming it into a pivotal occasion not only for the Church’s spiritual life but also for the cultural and economic vitality of Rome.
With the theme “Pilgrims of Hope,” the city is making extensive preparations, completing infrastructure upgrades, enhancing access to key religious sites, and ensuring a welcoming environment for the millions of attendees.
The Jubilee Year is more than a religious observance—it is a profound cultural and historical experience that leaves a lasting impression on the city and its visitors alike.
PROGRESS IN THE IMPLEMENTATION OF MAJOR INFRASTRUCTURE PROJECTS
As Rome prepares for the Holy Year 2025, significant progress has been made on key infrastructure projects designed to accommodate the anticipated influx of pilgrims and tourists. Mayor Roberto Gualtieri has confirmed that several major initiatives are nearing completion:
Underground Passage at Piazza Pia
The new underground passage at Piazza Pia, located near St. Peter’s Square, is scheduled to open on December 20, 2024. This project will enhance pedestrian access between Castel Sant’Angelo and Via della Conciliazione, improving visitor flow to the Vatican.
Revitalization of Piazza Risorgimento
The revitalization of Piazza Risorgimento, close to the Vatican, is set to be completed by December 23, 2024. The project aims to enhance the aesthetic appeal and functionality of this important public space.
Transformation of Piazza San Giovanni
Piazza San Giovanni is undergoing a transformation, with its new design set to be unveiled on December 28, 2024. The changes are expected to create a more welcoming environment for both residents and visitors.
Modernization of Piazza dei Cinquecento
The partial reopening of Piazza dei Cinquecento, located in front of Rome’s central Termini railway station, is planned for December 23, 2024. The improvements aim to better accommodate the large number of passengers and tourists passing through this transportation hub.
Restoration of Ponte dell’Industria
The restoration of Ponte dell’Industria, also known as Ponte di Ferro, is on track, with its reopening for vehicular traffic scheduled for January 2025. This project addresses structural concerns and enhances connectivity within the city.
These initiatives are part of Rome’s extensive preparations for the Holy Year, ensuring the city can welcome millions of visitors in a more comfortable and aesthetically pleasing environment.
IMPACT OF THE JUBILEE YEAR ON THE HOTEL MARKET AND SHORT-TERM RENTALS
The Jubilee Year 2025 is expected to have a significant impact on both the hotel market and the short-term rental sector, particularly in areas surrounding the Vatican and St. Peter’s Basilica.
The influx of millions of pilgrims and tourists during the Jubilee Year will drive a sharp increase in demand for hotels across all categories. Many hotels have already begun upgrading their facilities to meet the expectations of discerning guests. Properties located near St. Peter’s Basilica are likely to experience a steep rise in booking rates and occupancy levels. Additionally, new accommodation options catering to a variety of budgets are set to open in the vicinity of the Vatican.
The short-term rental market is also witnessing a boom in the lead-up to the Jubilee Year. Property owners, especially those with properties near St. Peter’s Basilica, are actively preparing their spaces to host guests. Platforms such as Airbnb are reporting a notable increase in both listings and inquiries in central Rome. Experts predict rental prices could rise by 20–30% during peak tourist periods. Some landlords are converting their properties into short-term rental apartments to capitalize on the heightened demand.
This increased interest in properties near the Vatican may lead to long-term changes in the market. Investment in both the hotel sector and short-term rentals is expected to grow, potentially altering the balance between short-term and long-term rentals in central Rome. However, this trend also poses challenges for local residents, who may face rising rents and reduced housing availability.
Thus, the Holy Year will have a profound impact on the hotel and short-term rental markets, driving rapid growth, particularly in areas near key religious and tourist landmarks.
Now is the ideal time to invest in real estate in Rome, especially for those considering purchasing a property for short-term rentals. Millions of pilgrims and tourists will be searching for convenient accommodations in central Rome. The demand for short-term rental properties is already rising, and the profitability of this market segment is expected to continue increasing.
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