Average price of properties for rent in Milan, Italy 2024 by area

Milan boasts some of the highest rents for residential real estate in Italy, with prices in the city center exceeding 30 euros per square meter in 2024. Similar average prices were also recorded in the areas of Garibaldi, Moscova and Porta Nuova with an average value of about 29.8 euros per square meter.

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 almost three times less per square meter than in Lombardy. On average, renting a house, flat, or residential property in Italy cost approximately 13 euros per square meter in October 2023.

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.