Real Estate in Milan, Italy
Last updated on Jun 07, 2023
Summary: The average cost of a nice 2 bedroom home in Milan, Italy is around €400,000, while a nice 3 bedroom home can cost around €500,000. These properties typically include modern amenities such as air conditioning, central heating, and high-end appliances. Some may also include a balcony or terrace. Foreigners are allowed to purchase property in Milan, but there are certain restrictions. For example, foreigners must obtain a permit from the Italian government before they can purchase a property. When searching for a home to buy in Milan, an expat should consider their budget, desired location, and amenities. It is also important to research the local market and consult with a real estate agent. The most desirable neighborhoods in Milan include Brera, Navigli, and Porta Romana. These areas are known for their vibrant culture, excellent restaurants, and easy access to public transportation.
How do I find a place to live in Milan?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Finding a suitable place to live in Milan can be a daunting task, but the following tips should help you in your search: -Research online for rental listings in Milan: there are plenty of websites and online databases with a large selection of listings in various neighbourhoods. Short-term rentals might also be available. -Visit the neighbourhood you are interested in living in: this is a great way to get an idea of the local amenities, services and activities on offer, as well as to get a better sense of the atmosphere of the area. -Visit a few properties: it is important to make sure the home meets your requirements before you sign a contract. -Check the lease agreement carefully: check the term of the contract and make sure you understand all the conditions. -Be prepared to act quickly: the demand for rental properties in Milan is high and a good property won’t be available for long," said one expat in Milan.
"Finding a place to live in Milan can be done through various methods, including real estate agencies, online platforms like Immobiliare.it and Idealista, and social media groups dedicated to housing. It's common to use a real estate agent to navigate the competitive market and handle legal aspects," wrote Brian Viola from Italian For A While.
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I am a language immersion traveler—after a Gap Year in Australia, I began working to encourage this experience in my own country: Italy!
Click connect to have our partner, Brian, contact you via e-mail and/or phone.
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What is a typical expat home or apartment like in Milan?
"Expat homes and apartments in Milan typically range from modern luxury studios to spacious three-bedroom apartments. They are usually located within the city center, with specific popular areas being Brera, Garibaldi and Navigli. Apartments will often feature modern décor with clean white walls, hardwood floors, and stainless steel appliances. In many cases, kitchens and bathrooms are relatively small, but this can depend on the type and size of the apartment. Many apartments benefit from a range of amenities such as an elevator, intercom, and balconies," said one expat in Milan.
"A typical expat home or apartment in Milan is often an apartment located in a central or well-connected neighborhood. Expats, indeed, often choose areas that are vibrant and offer a mix of residential and commercial spaces, such as Porta Venezia, Isola, or Navigli, providing easy access to work, dining, and entertainment options. As space can be limited, many apartments feature compact layouts with essential appliances such as a stove, oven, refrigerator, and washing machine," wrote Brian Viola from Italian For A While.
I am a language immersion traveler—after a Gap Year in Australia, I began working to encourage this experience in my own country: Italy!
Click connect to have our partner, Brian, contact you via e-mail and/or phone.
I am a language immersion traveler—after a Gap Year in Australia, I began working to encourage this experience in my own country: Italy!
Click connect to have our partner, Brian, contact you via e-mail and/or phone.
Become ‘Italian for a While’ with IFA! Learn in Italy on a 1-week to 12-month program - open to students, young adults, graduates, digital nomads, professionals, groups, faculty-led programs, and more. Take courses at an accredited school while immersing yourself in the language, life, and culture among your international peers. Submit an inquiry with IFA to learn more.
Click connect to have our partner contact you via e-mail and/or phone.
Become ‘Italian for a While’ with IFA! Learn in Italy on a 1-week to 12-month program - open to students, young adults, graduates, digital nomads, professionals, groups, faculty-led programs, and more. Take courses at an accredited school while immersing yourself in the language, life, and culture among your international peers. Submit an inquiry with IFA to learn more.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Milan?
If you are thinking about moving to Milan, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Milan is generally high and depends on the specific area and size of the property," explained one expat living in Milan, Italy.
Should I buy or rent a home in Milan?
If you have not spent a lot of time in Milan, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"The decision to buy or rent a home in Milan depends on your individual needs and situation. Buying a home is generally more expensive than renting, but for some people it is a better investment and a more stable option than renting. Owning a home also provides more freedom to personalize and make changes to your home. Renting a home, on the other hand, allows for more flexibility and the ability to move easily in the event of a job or lifestyle change. Ultimately, it should be your decision to make after careful consideration of your financial situation and plans for the future," remarked one member in Milan.
Are foreigners allowed to own property in Milan?
"Yes, foreigners are allowed to own property in Milan. According to Italian law, non-residents are allowed to purchase property in Italy, and there are no restrictions on foreign ownership. However, foreign buyers must obtain a tax identification number from the Italian tax authorities in order to purchase property in Italy. Additionally, foreign buyers must also obtain a residence permit if they plan to stay in Italy for more than three months," said one person in Milan.
Additional Information about Searching for a Home in Milan:
When we asked expats in Milan if foreigners are allowed to own property, they answered...
"Expats looking for homes in Milan can search online for real estate listings, contact local real estate agents, or look for rental postings on websites such as Airbnb or HomeAway. Additionally, expats can join online expat forums and ask for advice from other expats who have already moved to Milan," explained one person living in Milan, Italy.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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