Average price per square meter for office spaces Italy 2022-2023, by city

In 2023, Venice was the most expensive city to buy office space in Italy: the average price was 3,791 euros per square meter. According to the ranking, the second most expensive city was Milan, followed by Rome, and Bologna. Overall, cities in southern Italy offered lower prices: office space in Catania, for example, cost on average 1,330 euros per square meter. 

Retail space more expensive than office space

According to the same report, published by the Italian Revenue Agency (Agenzia delle Entrate), retail spaces are more expensive than office spaces. For example, one square meter for retail use in Venice cost as much as 4,301 euros in 2023, approximately 500 euros more than office spaces. In Milan the gap was also similar to the one in Venice. Retailers there could expect to pay on average approximately 4,070 euros per square meter, around 600 euros more than the price asked for office spaces. 

Milan and Rome are prime locations

Due to their population size and their role as the leading economic centers, Milan and Rome are the most well-off cities in the country. Thus, it should not come as a surprise that both cities boast the highest prices in all segments of the real estate market. In 2022, a new dwelling in Milan cost on average 4,122 euros per square meter; one in Rome approximately 3,330 euros per square meter.