Rising house prices in Milan: the city stands out from the rest of Italy.

February 23, 2024 - 06:30 10 photos © IPA / Fotogramma

From 2010 to 2023, a 27.1% increase in residential real estate prices was recorded (second quarter data), compared to a 6.8% drop for the whole country and a 21.7% decline in Rome. These are some of the data obtained during the online presentation of Coima's market and real estate update.

GROWTH IN 2023

In the second quarter of 2023, the Lombard metropolitan area recorded a 7.1% increase in residential real estate prices compared to the same period in 2022.

PRICE INCREASE COMPARED TO ROME

"House prices in Milan have been rising over the last two or three years, unlike Rome and the rest of Italy, but they are still quite stable," says Manfredi Catella, founder and CEO of Coima.

DISADVANTAGES

Catella also reminded that a shortage of 30,000 to 40,000 housing units in Milan is projected by 2030, and Milan's housing development plans are insufficient to reduce the current gap between supply and demand.

TREND FOR 2024

Milan real estate price forecasts for 2024 confirm the upward trend.

OVERVIEWS

"We expect price increases, especially significant for high quality buildings and in the urban square, also influenced by the relocation of wealthy individuals.

5 THOUSAND EUROS PER SQUARE METER

According to an analysis by Immobiliare.it for the newspaper Repubblica, it became known that in June 2023, the highest average price per square meter is in the Lombard capital: 5,000 euros in the city center.