Average price of properties for rent in Milan, Italy, 2020, by area

The city of Milan boasts some of the highest prices in the residential real estate sector in the country, with monthly rents in the inner-city center priced at almost 25 euros per square meter as of December 2020. Similar average prices were also recorded in the areas of Garibaldi, Moscova and Porta Nuova with an average value of 24.5 euros per square meter. In comparison, the average rental price for residential real estate in the region of Lombardy, where Milan is located, was roughly 15 euros as of late 2020.

Renting in Italy

Despite being much lower than in Milan, the average rental price for residential real estate in the region of Lombardy was among the most expensive in the country. Renting a house in the southern region of Calabria, the cheapest in the country, cost on average almost three times less per square meter than in Lombardy. On average, renting a house, flat, or residential property in Italy cost approximately 11.1 euros per square meter as of December 2020.

House purchase in Italy

The residential real estate market in Italy has struggled since the financial crisis of 2008. In recent years, however, low prices and low interest rates on mortgage loans have helped keep the sector afloat. In fact, the number of transactions has increased steadily since 2013, including purchases for investment, especially in cities.