The average price for properties for sale in the Italian municipality of Milan increased steadily between December 2016 and October 2024. Milan is one of the most expensive cities for real estate in Italy, with the sales price of residential real estate significantly exceeding the country average. Starting at 3,687 euros per square meter in December 2016, the average price of a square meter of property increased to 5,328 euros by October 2024.

In 2024, Milan boasted some of the most expensive residential real estate properties in the country. A ranking of the priciest districts of the city for residential properties showed that home buyers could expect to pay on average close to 10,780 euros per square meter in the district Centro (historical city center). In Milan, renting a dwelling also comes at a cost. The rental price in the same area amounted to nearly 31 euros per square meter in 2024. Milan, an attractive destination Milan is one of the most dynamic Italian cities. In recent years, the city was able to create jobs and expand investments in many sectors, attracting capital and talent both from Italy and from foreign countries. This growth was reflected also in the real estate market, which has proved to be the most dynamic in the country in recent years. Transactions in residential real estate in Milan increased steadily since 2012. Moreover, Milan was one of the most popular cities in Italy for residential property purchase as an investment. More tourists after Expo 2015 Hosting the Expo 2015 was a brave bet for the city. Thanks to public and private investments, Milan could carry out much-needed projects in terms of infrastructure and regeneration of some central areas of the city. In this sense, Expo 2015 also allowed the city to place itself on the map of the most popular tourist destinations in Europe and left a positive effect on the city’s tourism fluxes. International visitors have increased steadily since it was announced that the city would be the host of the global event, and continued to do so also in the years following the Expo.

Housing Index in Italy increased to 112.90 points in the third quarter of 2024 from 112 points in the second quarter of 2024. This dataset provides - Italy House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The highest average price for residential property in Italy in September 2024 was registered in the region of Trentino South-Tyrol, followed by Aosta Valley and Liguria. These three regions ranked as the most expensive in the country also because of their strategic position, natural beauty and peculiarity. These characteristics make them economically successful and, from a touristic point of view, appealing to a wealthy public. In Trentino South-Tyrol, the square meter price of residential real estate was over 3,231 euros, nearly 1,400 euros above the country average. Lombardy: the most active market in the sector The region of Lombardy (which includes Milan) might not be as exclusive as the regions mentioned above, but its real estate market is the most active in Italy. In 2022, Lombardy registered over 165,000 transactions in the residential real estate segment. Moreover, the total value of these transactions amounted to almost 30 billion euros. Milan, an attractive destination for investments Thanks to its role as a capital of business and finance as well as an innovation hub, Milan was able to attract human capital and investments, both domestic and foreign. The ability to grow and innovate was also reflected in the city’s real estate market, the most dynamic in the country. The number of transactions in residential real estate in Milan increased steadily since 2012 and so did prices: some areas of the city are among the most expensive in the country to buy a property.

Graph and download economic data for Real Residential Property Prices for Italy (QITR628BIS) from Q1 1947 to Q3 2024 about Italy, residential, HPI, housing, real, price index, indexes, and price.

Milan boasts some of the highest rents for residential real estate in Italy, with prices in the city center exceeding 30 euros per square meter in 2024. Similar average prices were also recorded in the areas of Garibaldi, Moscova and Porta Nuova with an average value of about 29.8 euros per square meter. Renting in Italy Despite being much lower than in Milan, the average rental price for residential real estate in the region of Lombardy was among the most expensive in the country. Renting a house in the southern region of Calabria, the cheapest in the country, cost almost three times less per square meter than in Lombardy. On average, renting a house, flat, or residential property in Italy cost approximately 13 euros per square meter in October 2023. House purchase in Italy The residential real estate market in Italy has struggled since the financial crisis of 2008. In recent years, however, low prices and low interest rates on mortgage loans have helped keep the sector afloat. In fact, the number of transactions has increased steadily since 2013, including purchases for investment, especially in cities.

The Italy Luxury Residential Real Estate Market Report is Segmented by Type (villas and Landed Houses, Apartments, and Condominiums) and by City (Rome, Venice, Milan, Florence, Naples, and Other Cities). The Report Offers Market Size and Forecasts for the Italy Luxury Residential Real Estate Market in Value (USD) for all the Above Segments.

Italy Residential Property Rent: Average: Milan data was reported at 150.938 EUR/sq m in 2022. This records an increase from the previous number of 149.616 EUR/sq m for 2021. Italy Residential Property Rent: Average: Milan data is updated yearly, averaging 150.938 EUR/sq m from Dec 2008 (Median) to 2022, with 15 observations. The data reached an all-time high of 172.549 EUR/sq m in 2008 and a record low of 144.632 EUR/sq m in 2016. Italy Residential Property Rent: Average: Milan data remains active status in CEIC and is reported by Nomisma. The data is categorized under Global Database’s Italy – Table IT.EB004: Residential Property Rent.

The prices of residential properties in Rome, Italy, have significantly fluctuated between 2016 and 2024. In October 2024, buying a residential property in Rome cost on average 3,411 euros per square meter, down from 3,489 euros per square meter in December 2016 during the market peak. A more detailed look into the city’s real estate market showed that residential dwellings in the most affluent areas of the city can fetch up to more than six thousand euros per square meter. Positive signals for the real estate market In general, lower prices seem to have attracted interest in the real estate market in the city. The number of residential property transactions in Rome has increased steadily since reporting the lowest value in 2013, when about 23.8 thousand transactions were registered. Not a city for investments Despite boasting lower prices when compared to Milan, Rome didn’t seem to be able to catch the interest of foreign investors. In 2018, the Italian capital could attract only 19 percent of the total foreign investments in the real estate sector in Italy. Moreover, in a list of the most popular cities in Italy for residential property purchase for investment Rome ranked last behind all major Italian cities.

Italy's Office Real Estate Market Report is Segmented by Key Cities (Rome, Milan, Naples, Turin, and Other Cities). The Report Offers Market Size and Forecasts for the Italy Office Real Estate Market in Value (USD) for all the Above Segments.

In 2021, the investment volume in the commercial real estate market in Milan, Italy was approximately 3.6 billion euros, down from 3.9 billion in 2020. While investment volumes decreased, they still exceeded the ten-year average values.

The coronavirus (COVID-19) pandemic had a major impact on the commercial real estate sector, affecting investment activity across most countries in Europe.

The dataset shows the IMO Zones and Perimeters (Observatory of the Real Estate Market) concerning the Municipality of Milan.

The half-yearly real estate prices, managed by the Revenue Agency, identify, for each defined homogeneous territorial area (IMO area), a minimum/maximum range, per unit of area in euro per square metre.

The information provided shall be the sole property of the Agency. The customer is not allowed to sell, rent, rent, transfer, transfer the contents of the Database or assume some other obligations to third parties.

The information contained in the database can be used by the customer, also for the purpose of their processing provided that, in the case of publication, the relevant source is cited. For any further contractual conditions and use it is possible to connect to the link https://www.agenziaentrate.gov.it/portale/web/guest/fiche/fabbricatiterreni/omi/banche-data/quotas-real estate/conditions-contractual-qi.

The dataset shows the IMO Zones and Perimeters (Observatory of the Real Estate Market) concerning the Municipality of Milan.

The half-yearly real estate prices, managed by the Revenue Agency, identify, for each defined homogeneous territorial area (IMO area), a minimum/maximum range, per unit of area in euro per square metre.

The information provided shall be the sole property of the Agency. The customer is not allowed to sell, rent, rent, transfer, transfer the contents of the Database or assume some other obligations to third parties.

The information contained in the database can be used by the customer, also for the purpose of their processing provided that, in the case of publication, the relevant source is cited. For any further contractual conditions and use it is possible to connect to the link https://www.agenziaentrate.gov.it/portale/web/guest/fiche/fabbricatiterreni/omi/banche-data/quotas-real estate/conditions-contractual-qi.

The Italy condominiums and apartments market is segmented by key cities (Rome, Milan, Venice, Florence and Other Cities). The report offers market size and forecasts in value (USD billion) for all the above segments.

The net office prime yield in Milan, Italy, in 2024 remained equal as the previous year. In the fourth quarter of 2024, the office yield in Milan totaled 4.25 percent, up from 3.1 percent in 2021, when yields were the lowest. The net prime yield refers to the ratio of net income to purchase price of a property of highest specification, the best location, and standard size commensurate with local demand. Across the major European markets, the lowest yields were found in Geneva, Zurich, and Stockholm.

The dataset shows the real estate price, for the second half of 2015, detected through the Observatory of the Real Estate Market (OMI) managed by the Revenue Agency which specifically processes and analyzes all the data and technical-economic information concerning the value of a property and the rental market surveyed in the Municipality of Milan. The data shown in the Dataset are divided into: * The State of Conservation indicated with capital letters refers to the most frequent one of the AREA * The Market Value is expressed in Euro/sqm referring to the Net (N) or Gross (L) surface area * The the presence of the asterisk character (*) next to the type indicates that the relative Market or Leasing Values ​​have been subject to adjustment. * For the typologies Boxes, Parking spaces and Garages the different appreciation of the market according to the state of conservation is not significant * For the typology Shops the O/N /S judgment is to be understood as referring to the commercial position and not to the state of conservation of the real estate unit The OMI is to be considered as a tool to all intents and purposes, through which the Revenue Agency ensures the transparency of the real estate market. The information provided is the exclusive property of the Agency. The customer is not permitted to sell, rent, lease, transfer, cede the contents of the database or assume any other obligations towards third parties. The information contained in the database can be used by the customer, also for the purposes of their processing, provided that, in the case of publication, the relative source is cited. For any further contractual and use conditions, it is possible to connect to the link https://www.agenziaentrate.gov.it/portale/web/guest/schede/fabbricatiterreni/omi/banche-dati/quotazioni-immobiliari/condizioni-contrattuali-qi .

How is the office real estate market in Milan going to change over the next five years? This question is even more pressing in light of the economic impact that measures taken to prevent the spread of COVID-19 is going to have on Italy. According to a study conducted in April 2020, prices for prime offices in Milan are expected to decrease in 2020 and 2021, respectively by 0.5 and 1.9 percent. Starting from 2022, however, the study predicted a new increase in price of around two percent. This positive trend was supposed to continue, until reaching a peak of 5.6 percent price increase in 2025.

The dataset shows the real estate price for the first half of 2018, recorded through the Real Estate Market Observatory (OMI) managed by the Revenue Agency, which specifically processes and analyses all the technical and economic data and information concerning the value of a property and the rental market recorded in the Municipality of Milan.

The data shown in the Dataset are divided into:

• The conservative state indicated by capital letters refers to the most frequent one of ZONE
• The Market Value is expressed in Euro/sqm referring to the Net Area (N) or Gross Area (L)
• The presence of the asterisk (*) next to the typology indicates that the relative Market or Rental Values have been corrected.
• For the Box, Parking spaces and Garage types, the different appreciation of the market according to the conservation status is not significant
• For the type Shops the judgment O / N / S is to be understood as referring to the commercial position and not to the conservation status of the real estate unit

The IMO is to be considered as a full-fledged tool, through which the Revenue Agency ensures the transparency of the real estate market.

The information provided shall be the sole property of the Agency. The customer is not allowed to sell, rent, rent, transfer, transfer the contents of the Database or assume some other obligations to third parties.

The information contained in the database can be used by the customer, also for the purpose of their processing provided that, in the case of publication, the relevant source is cited. For any further contractual conditions and use it is possible to connect to the link https://www.agenziaentrate.gov.it/portale/web/guest/fiche/fabbricatiterreni/omi/banche-data/quotas-real estate/conditions-contractual-qi.

The dataset shows the real estate price for the second half of 2023, recorded through the Observatory of the Real Estate Market (OMI) managed by the Revenue Agency, which specifically processes and analyses all the technical and economic data and information concerning the value of a property and the rental market recorded in the Municipality of Milan.

The data shown in the Dataset are divided into:

The conservative state indicated by capital letters refers to the most frequent one of ZONE The Market Value is expressed in Euro/sqm referring to the Net Area (N) or Gross Area (L) The presence of the asterisk (*) next to the typology indicates that the relative Market or Rental Values have been corrected. For the Box, Parking spaces and Garage types, the different appreciation of the market according to the conservation status is not significant For the Shops type, the O/ N /S judgment is to be understood as referring to the commercial position and not to the conservation status of the real estate unit The IMO is to be considered as a full-fledged tool, through which the Revenue Agency ensures the transparency of the real estate market. The information provided shall be the sole property of the Agency. The customer is not allowed to sell, rent, rent, transfer, transfer the contents of the Database or assume some other obligations to third parties.

The information contained in the database can be used by the customer, also for the purpose of their processing provided that, in the case of publication, the relevant source is cited. For any further contractual conditions and use it is possible to connect to the link https://www.agenziaentrate.gov.it/portale/web/guest/fiche/fabbricatiterreni/omi/banche-data/quotas-real estate/conditions-contractual-qi.

House prices in the historical center of Rome were, unsurprisingly, the highest in the whole city. Indeed, residential properties in the city center could fetch on average 8,051 euros per square meter. This figure is more than double the average price for a residential property recorded in the entire city. Pricey districts in Italy Rome is not the only city in Italy where many people would want to live, with fancy and attractive districts. In fact, Milan is the city that boasts the districts with the highest prices in the country. Furthermore, the districts of San Marco and Rialto in Venice are also very on demand: a residential property in the most central areas of the city island cost over 5,000 euros per square meter. Residential real estate in Italy House prices in Italy decreased steadily since 2012, and so did interest rates on new mortgage loans. These favorable conditions brought new life to the residential real estate market in the country. The number of transactions increased steadily after reaching an all-time low in 2013. Moreover, low prices in many Italian cities attract individuals interested in purchasing residential real estate for investment.