Average price per square meter for office spaces in main cities in Italy 2020
In 2020, 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 1,384 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 4,308 euros in 2019, 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 3.5 thousand 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 2018, a new dwelling in Milan cost on average 3.6 thousand euros per square meter; one in Rome approximately 3.3 thousand euros per square meter. When looking at prime locations in both cities, prices are way higher than the average: a luxury residential property in the historical city center of Rome could cost up to 10.5 thousand 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 4,308 euros in 2019, 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 3.5 thousand 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 2018, a new dwelling in Milan cost on average 3.6 thousand euros per square meter; one in Rome approximately 3.3 thousand euros per square meter. When looking at prime locations in both cities, prices are way higher than the average: a luxury residential property in the historical city center of Rome could cost up to 10.5 thousand euros per square meter.
