In Milan, real estate prices are rising.

On February 23, 2024, data was published in Italy regarding the increase in residential property prices from 2010 to 2023.

According to the Coima report, the second quarter of 2023 saw a 7.1% increase in residential property prices inMilan compared to the same period in 2022. At the same time, it is worth noting a decrease in property prices nationwide by 6.8% and a 21.7% drop inRome.

The founder and CEO of Coima, Manfredi Catella, stated that in the last two to three years, housing prices inMilan have been rising, unlike inRome and other regions of Italy, but they still remain quite affordable.

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Catella also noted that by 2030, Milan is expected to face a shortage of residential units ranging from 30,000 to 40,000, and the development of residential real estate inMilan does not meet the current demand.

Forecasts for 2024 indicate further price increases for residential real estate inMilan. Gabriele Bonfiglioli, the Chief Investment Officer of Coima, noted that particularly high prices are expected for quality buildings in the city center, as well as for properties located in well-developed areas.

According to Immobiliare.it, in June 2023, the average cost of housing inMilan was 5,000 euros per square meter in the central area.