Real estate Milan: Buying an apartment in Milan, one of Italy’s most dynamic and prestigious metropolises, presents both exciting opportunities and unique challenges. The city, globally recognized for its design, fashion, and economic importance, is currently experiencing high demand in the real estate market, contributing to a significant rise in prices. This trend, fueled by Milan’s economic vitality and cultural appeal, has created a dynamic yet competitive real estate landscape. Explore the nuances of the Milanese real estate market, where finding the ideal property requires a deep understanding of trends, neighborhoods, and financial considerations. Buying an apartment in Milan represents much more than just a real estate investment; it’s also an opportunity to immerse oneself in the rich cultural and social fabric of a constantly evolving city
Apartments for rent in Milan Italy
Apartments for sale Milan Italy
Bed and breakfast in Milan Italy
Houses prices Milan Italy
According to an article in the newspaper Il Giorno from October 2023, buying a house in Lombardy and Milan costs about 20% more compared to 2021, and rents have also increased by 11% in just six months.
According to Fimaa of Milan, the cost of a new apartment in Milan was around 6,340 euros per square meter (+18% compared to 2021), a recent apartment cost 5,060 euros (+20.6%), and a less recent apartment cost 3,986 euros (+23.9%).
In January 2024, according to data from Immobiliare.it, the average price per square meter in Milan is 5,377 euros with peaks at 7,700 euros per square meter in Porta Genova, Porta Venezia, Quadronno, and Palestro
Apartments for rent in Milan Italy
Renting an apartment in Milan currently presents significant challenges due to the continuous rise in real estate prices. High demand and limited supply have led to a significant increase in rents.
MilanoToday, in July 2023, reported that Milan is the most expensive city in Italy for renting. The price per square meter for renting in Milan was 22.1 euros/m², followed by Florence (18.8 euros/m²) and Bologna (18 euros/m²). Venice ranked fourth (17.6 euros/m²), Rome fifth (14.5 euros/m²), and Naples eighth (12.3 euros/m²). At the bottom of the list were Caltanissetta (4.8 euros/m²), Reggio di Calabria (5 euros/m²), and Agrigento (5.5 euros/m²).
In January 2024, the situation worsened with price increases for Milan, rising to an average of 23.23 euros/m² (according to Immobiliare.it), Florence 21.90 euros/m², Rome (15.94 euros/m²), Naples (14.11 euros/m²).
While in Venice (15.03 euros/m²), Caltanissetta (4.31 euros/m²) prices are decreasing, and in Bologna, the increase remains reasonable (18.05 euros per square meter).
Apartments for sale Milan Italy
To search for an apartment for sale in Milan, you can consult the offers on casa.it, immobiliare.it, idealista.it, which are the referenced websites in Italy
Lower prices for buildings will apply to small apartments in Milan (less than 50m2), studios, or apartments located in areas to avoid such as Quarto Oggiaro.
Bed and breakfast in Milan Italy
Opening a bed and breakfast in Milan could represent a good investment. According to data gathered by Airdna, the annual occupancy rate is 63% for B&B offerings in Milan, with an average nightly price of 151.4 euros and an average income of 34,800 euros (up 3% from the previous year). However, it’s important to create a business plan with one of our accountants before diving into a real estate investment in Milan, in order to make projections and calculate the profitability and feasibility of your project.
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