Average price per square meter for office spaces in main cities in Italy 2021
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 4,304 euros in 2021, 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 3,490 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 3,200 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 10,500 euros per square meter.