Where to buy a house in Milan: an overview of the real estate landscape

"Where to buy a house in Milan?" is a million-dollar question, roughly the amount needed to buy an 80-100sqm apartment in Brera, a 120-140sqm three-bedroom in Porta Venezia or a 300-350sqm detached house in Sesto San Giovanni. The real estate market in Milan – a city undergoing continuous transformation, driven by major events, new infrastructure, and redevelopment projects– is among the most dynamic in Europe, and a big pot for multimillionaires from around the world. For the so-called "middle class," on the other hand, it has taken on the guise of hunger games, in an attempt to make a street number meet the desired parameters: affordable price, livable square footage and proximity to the places of one's everyday life.

Considering that the average price per square meter today has exceeded €5,000, and there is a good chance that it will continue to rise in the future, it is increasingly important to be aware of the bigger picture, not only of what is happening in the present but also of future transformations, in order to make one's purchase an investment.

As well as the historically central and established neighborhoods, where prices are higher, areas undergoing major regeneration projects, rail yards, new smart hubs, and university and innovation districts are emerging. At the same time, there are areas with lower square meter prices that, while distant from the center, benefit from infrastructure improvements and revitalization plans.

This guide aims to provide an overview of prices in different areas of the city, from growing neighborhoods with strong potential, to the most expensive and unattainable areas, to areas that might be "budget-friendly," to guide those who want to buy a home in a rapidly changing market. A map that reflects today's Milan and anticipates tomorrow's.

After Expo 2015, amid the Milan-Cortina Olympics coming up in 2026 and redevelopment projects, if not just rebranding, that go hand in hand with the expansion of the metro network, there are some neighborhoods that stand out for a particular regenerative momentum. These are areas that before today probably would not have ended up in the search perimeter that anyone who has ever had to look for a home has drawn at least once on a real estate portal map.

One of the neighborhoods certainly most in hype is that of Scalo di Porta Romana, promptly renamed SouPra (an acronym for South of Prada), which in addition to the buildings being constructed in anticipation of the Olympics, has also seen the birth of a new art hub with galleries and design venues to flank the pre-existing exhibition spaces. According to a Casavo report from the middle of last year, Scalo di Porta Romana stands out with a +48 % increase in price per square meter (from €3 296/m² to €4 845/m²) and a +40 % increase in buying and selling. This wave of renewal also spreads further south to the area of Santa Giulia Nord, the future site of the PalaItalia for the Milan-Cortina 2026 Olympics, which saw +27 % in prices and +28 % in sales, all the way to Rogoredo, against the backdrop of the new conservatory project "Bosco della Musica", which sees a more moderate trend: +24 % in prices (from 2 316 €/m² to 2 872 €/m²) and +3 % in sales.

In the northwest area of the city, a stone's throw from Milan's exhibition center, the MIND - Milano Innovation District project has been grafted, the new district born in the former Expo 2015 area, between Milan, Rho and Pero, dedicated to innovation, research and sustainability, which houses Human Technopole, Galeazzi Hospital, university campuses, companies, green spaces and residences, with the aim of creating a zero-emission urban hub. Cascina Merlata, part of this district, has also benefited from the "Merlata Bloom" project, registering +44 % in prices (from 2,776 €/m² to 3,993 €/m²) and +78 % in purchases and sales. For neighborhood-acronym lovers, while NoLo sees a steady increase in price per square meter (OMI 2025 data indicate an average price of 4 771 €/m², up from 2024, 4 491 €/m²), north of the city also comes NOM, North Of Milano, which includes the area between Bovisa and Novate Milanese, with a 42 % increase in prices (from 2 136 €/m² to 3 039 €/m²) and an explosive +115 % in transactions.

SeiMilano, the smart, multifunctional neighborhood near Bisceglie, conceived by Borio Mangiarotti and Värde Partners, designed by Mario Cucinella Architects and Michel Desvigne, offering 1,000 homes, offices, stores, and a 16-hectare public park, shows a 31 percent increase in prices (from 2,161 €/m² to 2,825 €/m²) and +49 percent increase in sales.

Finally, Scalo Farini, still awaiting redevelopment, saw a +12 % in prices (from 4 264 €/m² to 4 792 €/m²), while purchases and sales decreased by 1 % and average selling times increased by 43.5 %.

But which areas should one consider to find housing that, despite the city's very expensive market, offers a more affordable price per square meter? Along with the neighborhoods previously seen at the center of specific renewal projects, in 2025, Baggio, Quarto Oggiaro (along with Bisceglie and Olmi), Forlanini and Lorenteggio remain among those with the lowest prices in terms of real estate. In particular, according to data updated to August 2025 from Immobiliare.it Insights, in the cheapest range are Bisceglie - Baggio - Olmi (about 3,106 €/m²), while Forlanini remains below the 4,000 €/m² threshold (3,844 €/m²).

Although distant from the center, these neighborhoods are attractive to date given some measures to improve services, starting with the new M4 subway stops, which from Linate airport, passing through Forlanini arrives in Duomo and then up to Lorenteggio - San Cristoforo. The characteristic center of Baggio stands out for the rehabilitation of disused buildings and the creation of new public spaces, while in the general revitalization movement, Quarto Oggiaro emerges for the infrastructure redevelopment plan put in place.

It is not difficult to guess which are the most expensive neighborhoods in Milan, but it is worth going over them briefly to get an idea of the prices per square meter in the city's most central areas. According to a report published by Idealista on July 4, 2025, the historic center dominates the ranking with 10 681 €/m², more than double the city average, confirming itself as the most exclusive and sought-after area. It is followed by Garibaldi-Porta Venezia (7 314 €/m²), a strategic hub between business district and prestigious residential areas, and Fiera-De Angeli (7 077 €/m²), appreciated for its high housing quality and quick connections to the center. Not far away are Navigli-Bocconi (6 995 €/m²), with the charm of the historic canal and university vibrancy, and Porta Vittoria (6 411 €/m²), a neighborhood undergoing transformation with new high-end residences. These areas, all well above the city average, also show price increases: the Centro Storico marks +2.8% over the previous quarter, Garibaldi-Porta Venezia +2.4 %, while Porta Vittoria grows more slowly (+0.3 %), a sign of an already very mature market. Together they delineate Milan's "golden belt," where high demand and scarcity of supply keep record-high prices stable.

What is happening in the city on the other hand in regard to rents? While the City of Milan is in motion to attract investment on the "Extraordinary Housing Plan" presented about a year ago that aims to create 10,000 housing units at subsidized prices over the next ten years, the rental sector in Milan is showing an increase in temporary rentals, as noted by Idealist. More and more people are choosing short- or medium-term solutions, between 1 and 18 months, responding to a labor market made more fluid, seasonal and precarious than in the past. This solution, however, does not seem to be "cannibalizing" the rental market in the Lombard capital.

According to AIGAB data, dated July 2025 there were about 14,900 short-let listings in Milan, accounting for 1.8 percent of the city's housing stock, while ordinary rentals accounted for just 22.6 percent. The economic spin-off generated by this market is considerable: in recent years it has touched the 2 billion euro mark, with over 473 million in 2023 alone. It is not surprising, then, that central and tourist areas such as Duomo, Brera, Porta Venezia and Navigli remain the favorites of students, foreign workers and professionals on the move, but also neighborhoods undergoing renovation such as Porta Romana, Lambrate and Bicocca are attracting a growing share of demand.

Opening image: Church of St. Christopher, Milan. Courtesy of the Church of St. Christopher on the Naviglio Canal.