Market overview with OMI/Nomisma data
The luxury real estate market in Milan continues to exhibit robust dynamics, as evidenced by recent data from OMI and Nomisma. The overall sales volume has increased by approximately 10% compared to the previous year, driven by both domestic and international buyers. Prime residential areas, notably Brera, Porta Venezia, and CityLife, remain the most sought-after locations, showcasing consistent appreciation in property values.
Analysis of most interesting zones/property types
In the current landscape, Brera stands out as a hotspot for luxury buyers, owing to its vibrant cultural scene and proximity to Milan’s fashion district. CityLife has also attracted considerable attention due to its modern architecture and green spaces, appealing to families and professionals alike. The demand for penthouse apartments has surged, with buyers willing to pay a premium for exclusive views and amenities.
Price trends and investment opportunities
The price per square meter in these prime locations has shown a steady increase, with Brera averaging around €12,000 per sqm. Investors looking for a solid ROI should consider properties that can be renovated or have the potential for cash flow through short-term rentals. The trend toward sustainable living is also prompting an interest in energy-efficient properties, which could yield significant long-term benefits.
Practical tips for buyers/investors
For those looking to invest in Milan’s luxury market, it is crucial to conduct thorough due diligence. Engaging with a reputable local agent who understands the nuances of the market is essential. Additionally, consider properties in up-and-coming neighborhoods that may not yet be on everyone’s radar, as these can offer excellent capital appreciation opportunities.
Medium-term forecasts
Looking ahead, the luxury real estate market in Milan is expected to maintain its upward trajectory, driven by continuous demand and limited supply. The anticipated growth of the tech sector in Milan will likely attract more affluent individuals, further boosting the luxury market. It is safe to say that real estate remains a resilient investment, even amidst economic fluctuations.
