Rental prices in Milan are rising, including on the outskirts.

InMilan, the real estate rental market is growing rapidly. The number of leases has grown from 40,165 in 2015 to 55,830 in 2021. The growth has been particularly marked in the temporary rental market, which has increased from 17.5% to 27.2% of all new contracts. At the same time, rents have increased significantly: the average rental rate registered by Omi (Real EstateAgency) rose from €129.6 per year per square meter in 2015 to €173.4 per year per square meter in 2022 (+33.8%).

Therefore, the supply on the rental market at an agreed and preferential rate for''students remains very low and represents only 5% of all contracts. As for the sale of real estate, the price per square meter rose by an average of 40.7% between 2015 and 2021, with a particularly marked increase in those areas considered more affordable before 2014. The study also showed alarming increases in value in three neighborhoods: the Stazione Centrale-Viale Stelvio (+ 32.7%); the Cenisio, Farini and Sarpi neighborhoods (+ 24.6%); and the Tabacchi, Sarfatti and Crema neighborhoods (+ 22.8%).

The study also shows that house prices are rising three times faster than incomes and wages, rents almost twice as fast. But if we look at stagnant incomes in middle-class categories such as 'workers' (average monthly wage €1,410) and 'employees' (average monthly wage €2,435), which together''make up 61% ofMilan's workers, the cost of buying real estate has risen 13.6 times faster than "worker" wages and 5.8 times faster than "employee" wages, while rents have risen respectively 7.3 and 3.1 times faster than average wages in the same categories.

The data reflect the reality of a city in which, for many, especially newcomers (those who do not own property inMilan) and with low incomes, earnings no longer allow for at least a decent life: in fact, 57% of Milanese taxpayers declare an annual total income of less than 26,000 euros and 34% declare an annual total income of less than 15,000 euros.