Real estate in new builds from developers of Milan
Resale property from owners in Milan
Real estate in Milan
Location, climate, economy and infrastructure
Milan is a city in northern Italy, the administrative center of the province of Milan in the Lombardy region. Milan is located at an altitude of 122 m above sea level in the northwestern part of the Padana Plain between the rivers Ticino, Adda, Po and the Alps.
Milan is located in the transitional zone between Mediterranean and temperate climates, which is characterized by a maritime climate. The warmest month is July with an average temperature of 21.9°C, the coldest is January with an average temperature of 0.8°C.
The city is a significant financial, industrial, scientific and cultural center of Italy. The only Italian stock exchange in the country (Borsa Italiana) operates here. Mechanical engineering (including automotive), non-ferrous metallurgy (aluminum, copper), oil refining, chemical industry, production of automobile tires, light (clothing, footwear), pharmaceutical, food industries, printing and book publishing are developed. Many financial companies are located in Milan, and in the suburbs is the "avant-garde" of the industrial zone.
It is a major railway and road junction. Milan is one of the capitals of fashion (world fashion centers Giorgio Armani, Roberto Cavalli, Gianni Versace work here). Fiera Milano, the city's trade fair complex is one of the most significant in the world. Milan is also a major center of international tourism.
Why buying a property in Milan is profitable
The real estate market in Milan is one of the most active in Europe, characterized by heterogeneity and diversity. Every year it attracts more and more foreign buyers, as the real estate of the city is considered a very promising direction for investors who are considering buying not only for recreation (as a resort option), but, above all, for living, studying, working (running their own business) or as a profitable investment.
Among other advantages of purchasing real estate in Milan, the following are worth noting:
- the largest financial and business center in Italy;
- European capital of world fashion and shopping;
- developed city infrastructure and transport system, which are constantly being improved;
- tourist attraction, rich cultural and historical heritage;
- opportunity to get a European education;
- high return on investment;
- earning income from rental housing.
Residential real estate in Milan is always a safe investment, thanks to rising prices, high rental yields and huge opportunities for business development, study or work. Flats and apartments in Milan are among the most liquid types of real estate in the country. Housing can be rented out, receiving from 3% (in the center) and up to 12% (on the periphery) per annum, or bought without repair, repaired and resold profitably. Residential apartments in Milan are put into operation on time, the facilities are built using the latest technologies and in compliance with standards. Customer reviews confirm the high quality of the projects under construction. The sale of apartments from developers is carried out with a full finish and plumbing, repairs in new buildings also meet the standards.
The real estate of the city reflects its economic potential. Milan is one of the most attractive cities in Europe for investment: by investing in residential real estate, buyers not only save their money, but also increase it.
Real estate prices in Milan
Real estate prices in Milan cannot be classified as cheap. The cost is affected by the location (district), connection to the infrastructure, the condition of the object. In multi-storey buildings, the number of storeys significantly affects pricing. The closer to the historical center of Milan the apartment is, the more expensive it is.
The cost of the most modest apartments starts from 100,000 euros (most often they are located on the outskirts or in the suburbs). In the historical center (zone 1) apartments are the most expensive. Selling real estate in Milan in this area (the price per square meter is about 7-8 thousand euros) will be of interest to those for whom the proximity of attractions or business centers is of paramount importance. Corso Venice (zone 3) competes with the center in terms of prices, one of the most prestigious streets where you can buy luxury housing. The area is located in the center of the recreational area and is more suitable for couples. There are many parks, small ponds, gardens. You can buy real estate in Milan at discounted prices in the areas of Porta Vittoria and Isola.
Estimated cost of real estate in Milan:
- small apartments in the center with an area of 25 m² are 120 -150 thousand euros;
- apartments with an area of 65-75 square meters, located in areas remote from the center are about 100-150 thousand euros;
- apartments with an area of 150-160 sq.m are from 400 thousand euros (average price is half a million).
Types of real estate for sale
- Potential investors can choose from the following types of real estate in Milan: residential (apartment, house, villa, flats, penthouse, cottage, etc.);
- commercial (shopping space, office space, warehouses, industrial premises, etc.);
- land plots.
Real estate website in Milan
The GEOLN.COM website with a convenient search interface helps investors to find and buy residential real estate in Milan. On the site you can choose apartments according to the necessary parameters without intermediaries and take advantage of the advice of specialists.
Buying real estate in Milan by foreigners: the nuances of investment
In Milan, at the legislative level, equal rights are enshrined in the acquisition of real estate by both a citizen of the country and a foreign investor. Thus, in order to buy an apartment or a house in Milan, non-residents do not need to issue additional permits. It is allowed to buy in full ownership all types of real estate. The transaction is concluded on a general basis, but it should be noted that all procedures are carried out in Italian. Ownership of real estate in Milan is the basis for issuing a multiple Schengen visa.
We suggest that you seek qualified assistance from specialists to minimize risks and losses. GEOLN experts carry out a high-quality selection of objects according to individual parameters, provide a comprehensive support service for the safe execution of a transaction. Buying and selling real estate in Milan is provided by professionals with many years of experience.
Buying a property in Milan is a profitable, prestigious and expensive investment that provides high rental income, the opportunity to live and relax in the city of business and fashion, phenomenal tourist popularity and developed infrastructure.