Home of Italian fashion, style and design

Milan

Milan is the spiritual home of Italian fashion, style and design. It is the largest city of the north and the most dynamic market, with the highest number of deals, regardless of the asset class.

Outside the city, skiing and hiking are prime activities, while the lure of the lakes and mountains to nature lovers is now time-honored.

Transformation is underway in Milan: its tallest landmark for centuries has been its vast gothic Duomo, which took 600 years to build. But the skyline is changing with the modern high-rises – including those designed by Zaha Hadid and Daniel Libeskind – in the new Porta Nuova and CityLife business districts.

Piazza Gae Aulenti, near the major shopping and dining street of Corso Como, provides the city with a new social hub in the form of a city square with shops, restaurants and fountains.

In the first half of 2018 the sales of office buildings in Milan were concentrated in the historic center and in the city center, at the end of June 2019, 82.4% of investments went to suburban areas (580 million euros) and the Central Business District of Porta Nuova (420 million euros).

At the end of June 2019, the amount of foreign investments in Milan was over 1.3 billion euros, equal to 82.4% of the total volume invested. US investors once again confirmed their weight in the Italian real estate economy, followed by investors from Asia and the Middle East. National investment flows amounted to € 1.1 billion, up 21.7% compared to the end of June 2018.

In addition to the increase in transaction volumes was a change in the investment strategy by institutional operators, which saw greater interest in properties at higher risk and higher return.

Innovation is all around in Milan, including at the Salone del Mobile, the world’s biggest furniture fair, and the biannual fashion week, whose glamorous protagonists pack out elegant palaces every Spring and Autumn.

Studio Alliance members have undertaken projects in Milan for:

Milan Fast Facts

Average Letting Cost

€600

Square metres

Total lettings in 2019

175,000

Square metres

Vacancy Rates

9.8%

in 2019

Arco della Pace

Milan is an easily navigable, safe city that offers a high quality of life for families. Most property buyers are Italians looking for primary residences or overseas investors with family connections or who want a pied à terre for business trips to a city that’s well connected by air and rail. Its historic centre, around Via Montenapoleone, Brera and Piazza Castello, remain its most sought after and high priced addresses.

City of Milan

2019 was a positive year for the real estate market and further growth was forecasted considering the future Olympic games Milano-Cortina 2026 and the massive investments for the development of the Suburban areas around the Scali.

Significant Letting

PwC

33,520 sq m

Libeskind Tower - Piazza Tre Torri Semicentre

Significant Investment

Swiss Life AM Real Estate

€151m

AREEF Mixed Portfolio 2018, Bld Vella