Milan is my city: the city where I live, where my kids live, where I enjoy time with friends, shop, and work.
And I bet you already know—I work as a real estate agent in Milan.
I know the Milanese real estate market very well, and if you also want to learn more, I invite you to read the information below and visit us at our office.
Property Prices in Milan
Milan is Italy’s most significant real estate market, the capital of Lombardy.
Buying a home in Milan means living in Italy’s largest economic hub, the capital of shopping and fashion, a city with numerous universities and international schools, and one of the most beautiful cities in Italy, offering endless opportunities.
Milan is world-famous for its architecture, its cutting-edge projects, and its modern brands. The most important fairs and conferences are held here, ensuring a constant demand and price stability, especially for luxury properties.
This stability is also explained by the city’s tourism and commercial appeal.
Each year, apartments and homes in Milan attract a growing number of investors, thanks to the city’s strategic location.
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Sea, lakes, and ski resorts are just 1–2 hours from Milan.
Getting to Milan is incredibly easy, thanks to daily flights to the city’s three airports: Malpensa, Linate, or Bergamo.
Property prices vary depending on the neighborhood, its infrastructure, the popularity and safety of the area, as well as the quality of the buildings and transportation links.
Below, you’ll find an image illustrating the average property prices in Milan by area, proximity to the metro, and central neighborhoods.
The average price for an apartment in Milan is €4,577 per square meter (2024 update), with variations ranging from €3,000 to €20,000 per square meter.
Milan is a relatively small city with a circular shape and a radius of 7.6 km... In just 60 minutes on foot, you can walk from the outskirts to the center.
The demand for housing in Milan is centered around two-room apartments (45.1% of requests), confirming the city’s appeal for investors, who mainly focus on studios and two-room apartments. Indeed, 27.4% of purchases in Milan are for investment purposes, and the two-room apartment is the ideal solution.
As in other cities, the closer you are to the center, the higher the prices. However, Milan has prestigious neighborhoods that are not necessarily in the heart of the city, which I will discuss later.
Which Neighborhood to Buy a Home in Milan
There are various factors that influence the choice of property: location, cost, property condition, proximity to points of interest, and, of course, safety.
Milan is divided into 9 zones, most of which are safe and ideal for living.
The most popular neighborhood for property requests is Corso Venezia. This area attracts significant interest for property purchases, even from foreigners.
One of the most exclusive neighborhoods in Milan is the Quadrilatero, famous for its high-fashion boutiques such as Via Montenapoleone and Via della Spiga. This area is highly sought after but characterized by a limited availability of properties for sale.
Living in central Milan, however, has its downsides: a lack of green spaces, parking difficulties, additional costs for accessing Area C (city center), the absence of large supermarkets, and long travel times to highways. For these reasons, many Milanese prefer not to live in the very center.
Other prestigious neighborhoods in Milan include Brera, Corso Magenta, and Mario Pagano, traditionally associated with Milanese bourgeoisie.
The neighborhoods of Moscova and part of Isola, close to modern constructions and the center, are also highly appreciated. Additionally, the new area of City Life, with modern buildings and a shopping center, is interesting, even if it’s not in the heart of the city.
The more prestigious the neighborhood, the rarer it is to find interesting opportunities. We recommend turning to a licensed real estate agency in Italy to select the ideal property in Milan for you.
- Historic Center of Milan - Full of boutiques, tourist attractions, bars, and restaurants, with a constant presence of tourists and a lively atmosphere even on rainy days. Property prices here start at €8,000 per square meter.
- Corso Venezia - A chic neighborhood with luxury shops and exclusive residences. Close to the center but offering tranquility and privacy. Prices start at €8,600 per square meter.
- Magenta - Located west of the historic center, it offers a quiet and peaceful environment in the evening, with uncrowded streets. Prices start at €6,800 per square meter.
- Vercelli - Perfect for shopping enthusiasts, with prices around €6,600 per square meter.
- Sempione - An exclusive neighborhood around Parco Sempione and Castello Sforzesco. Prices start at €6,800 per square meter.
- Isola - A creative and alternative neighborhood, once industrial, now home to artists and craftsmen. Prices start at €7,800 per square meter.
- Ticinese - A neighborhood full of historic shops, taverns, and ateliers, transforming at night with bars and nightclubs. Prices start at €4,900 per square meter.
- Navigli - Romantic and picturesque, reminiscent of Venice with its canals. Prices start at €4,600 per square meter.
- Milan-2 and Milan-3 - Well-maintained and quiet residential areas, far from the city chaos.
Unfortunately, Milan also has less safe neighborhoods.
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Problematic areas include Via Padova, Baggio, Barona, and Quarto Oggiaro, with prices around €3,000 per square meter.
These areas are mostly inhabited by immigrants from Arab and African countries. It’s advisable not to walk in these neighborhoods at night. The walls of homes are covered with rental ads at enticing prices, but the interested parties are mainly other immigrants.
Often, the choice of a property is linked to proximity to schools or universities, or to family-friendly zones with amenities for children.
Milan hosts numerous prestigious universities and international schools.
Milan is Italy’s largest university hub, with 39 universities. According to the QS "Best Student City" ranking, it ranks 21st among the best student cities in the world.
Among the most renowned universities attracting students from all over the world are:
- the prestigious economic universities Bocconi and Università Cattolica del Sacro Cuore,
- design institutes like Marangoni and IED (Istituto Europeo del Design),
- the Politecnico di Milano, renowned for engineering and architecture,
- IULM (International University of Languages and Media) for communication professionals,
- the Università degli Studi di Milano and the Università di Milano-Bicocca,
- the Accademia di Belle Arti di Brera and the Conservatorio Giuseppe Verdi for artists and musicians.
Wondering about the average price of an apartment for students?
Two-room apartments in university areas start at €280,000 and go up to €600,000.
In the surrounding areas, there are also many international schools, such as the American School of Milan, the International School of Europe, and many others.
Often, the choice of a home is influenced by its proximity to schools, universities, and green areas where family members can spend their free time.
Commercial Investments
To invest in commercial real estate in Milan, it is essential to know the most in-demand areas, ideal for both rentals and self-run businesses.
Much depends on the purpose of the space. However, the city center, particularly shopping streets and tourist areas, represents a safe investment.
Milan is undeniably the world’s fashion capital. Here, you’ll find boutiques of the biggest brands, a shopping mecca for tourists from all over the globe.
Those seeking the most exclusive pieces head to the Quadrilatero della Moda, with famous streets such as Via Montenapoleone, Via della Spiga, Via Santo Spirito, and others.
Let’s not forget the Galleria Vittorio Emanuele, with luxury boutiques and restaurants.
Other shopping streets include Corso Buenos Aires, Corso Vercelli, and the Brera district.
Investing in a commercial space in one of these central areas is almost always a winning move.
Buying from a Developer
Is it better to choose a new property from a developer or opt for one that needs renovation?
The average price for a new construction in Milan is about €5,940 per square meter.
Buying a pre-owned property may save money, but you must account for renovation costs, which can exceed €1,500 per square meter depending on materials and the work required.
Many prefer new constructions to avoid complications, and the website www.immobiliare.it offers a wide selection of recent projects in the Milan area.
The highest demand is for modern two-room and three-room apartments with at least two bathrooms, increasingly preferred over older buildings.
Lifestyles are changing, with smaller families and a 30% increase in requests for solutions suitable for singles or couples.
Your Luxury Milan Home Awaits – Schedule a Viewing!
Arrange a private tour and let us guide you to your ideal home.
How to Buy Affordable Properties
Affordable properties don’t mean subpar properties.
Often, choosing peripheral areas or well-connected satellite towns is enough to find more budget-friendly solutions.
Another option is buying properties that need renovation, though foreign buyers often avoid this to sidestep complications.
Another intriguing possibility is purchasing properties at auction, with prices reduced by 20%, though the process can be long and complex.
Rentals in Milan
Milan surpasses Rome in tourist numbers, and with international events like Milan Fashion Week or the Salone del Mobile, the demand for short-term rentals is steadily growing.
Long-term rentals, on the other hand, are sought by students and professionals. The sharing of expenses among roommates makes three-room apartments particularly popular.
Whether you’re looking to rent, invest, or find your dream home, Milan has opportunities that combine elegance, potential, and the charm of one of the world’s most celebrated cities. Ready to explore?