Generous tax benefits, vibrant urban development projects and low cost of living attract foreigners to the financial center of Italy.
What happened? The luxury apartment market in Milan is booming as bankers, fund managers, and private investors flock to Italy's financial center.
Context. In 2017, the Italian government began providing generous tax incentives to attract new arrivals. It helped tilt Milan's real estate market towards the elite segment, especially since the city has become a popular destination for financial workers leaving London after Brexit.
Infrastructure. In recent years, the city in northern Italy has experienced something of a renaissance thanks to the completion of several major projects to restore the urban environment. On the eve of the 2015 World Expo in Milan, the city authorities and real estate agencies turned the dilapidated Porta Nuova district and the old Milan exhibition complex into elegant modern attractions, which served as an impetus for the development of new luxury residential, commercial and business areas.
Location. Part of the attraction is geographical: Milan is an hour's flight from the financial center of Frankfurt and less than two from London. It is also a two-hour drive from the Mediterranean coast and about an hour and a half by car from the Alpine ski resorts.
Quote. "Milan is a great place to move," says Giovanni Raffa, a private banker at Credit Suisse Group AG, who moved to the Lombardy capital at the end of 2021 after 16 years in London.
"This is the financial center of the country that is well connected to the main transport hubs of continental Europe and offers a high–quality lifestyle," the banker adds.
Prices. According to the real estate website Immobiliare.it, the value of luxury real estate in Milan increased by 25% in the six months that ended November 2022. That is a significant increase compared to the period from 2019 to 2021 when average prices for luxury real estate throughout Italy rose by only 2%. The term of sale of luxury homes is also being shortened; currently, they remain on the market for an average of just over two months which is less than before the pandemic.
Brexit. After the UK left the EU, some of the world's largest banks were forced to move traders from the UK to continental Europe. Although Italian banks such as UniCredit SpA and Mediobanca SpA were the first to repatriate employees to Milan, their international counterparts are now following suit.
Goldman Sachs is moving traders from London to a city in northern Italy, and investment companies Certares, Eisler Capital UK, and Andera Partners have opened stores in Milan over the past few years. According to a new report by the European Banking Authority, the number of highly paid persons in Italy, defined as employees earning more than a million euros a year, increased to 351 in 2021, which is 88% more than a year earlier.
Taxes. The main advantage for wealthy people considering moving to Italy is tax benefits that allow newcomers to pay a fixed rate for income earned abroad, or not to pay taxes on an amount reaching 70% of income for five years.
Propreties for sale in Milan:
Price on request
Villa in Milan, Italy
560 sq.m44
This stunning Art-Nouveau Villa for sale is girdled by nature and situated in the province of Milan. The recent renovation of this property improved and restored the old splendour of its original traits. This luxury estate sprawls over roughly 500 m² in total and encompasses three floors. The ground floor comprises an airy hall with charming...
Lionard Luxury Real Estate
Price on request
Apartment in Milan, Italy
280 sq.m54
In one of the most high-end areas of Central Milan, there is this luxurious two-storey penthouse for sale. This prestigious 280-sqm property is at a stone's throw from the city's main sights, on the 7th and 8th floors of a high-end 1960s building, and also includes two fantastic panoramic terraces. Among the great features of this property there...
Lionard Luxury Real Estate
720 000 €
Apartment in Milan, Italy
117 sq.m432
NEW BUILDING!
The deadline is autumn 2023.
Payment in installments.
There are only three apartments left!
The sale of the entire complex took place in a record two months!
MARTESANA NAVIGLIO
The construction company began the construction of a residential complex in a six-storey building with 2,3, 4-room apartments with basements and...
Alisa Estejt
295 000 €
Apartment in Milan, Italy
55 sq.m11
NEW PANORAMIC ONE-BEDROOM APARTMENT
District: PARCO TROTTER, adjacent MM1 ROVERETO one of the districts of the city in the reconstruction phase
In the immediate vicinity of LORETO Square
At the intersection of two metro lines
Or rather at Via Marco Aurelio 64
A comfortable living area
Many cafes, shops, kindergartens and schools...
Alisa Estejt
Price on request
Villa in Milan, Italy
1300 sq.m46
This luxurious estate in a sophisticated modern style for sale in the province of Milan is surrounded by nature. This is a unique property in terms of size, 1,300 sqm of internal surface between the main villa and outbuilding, and for its architectural lines in perfect contemporary taste. The most absolute privacy and the pleasant quietness...
Lionard Luxury Real Estate
20 900 000 €
Villa in Milan, Italy
3001 sq.m1519
In the countryside on the outskirts of Milan, surrounded by a naturalistic and cultural context of great beauty, full of castles, churches and farmhouses, there is this prestigious organic farm with 140 hectares of arable land for sale. Surrounded by a thick forestal area that is excellent for hunting, this property is a splendid example of a...
Lionard Luxury Real Estate
1 350 000 €
Apartment in Milan, Italy
155 sq.m33
For sale a beautiful, renovated 4-room apartment. Area: 155 m2Located on via Morgagni. The apartment consists of: an entrance hall, a large living room with a balcony and an open kitchen, a service bathroom with a laundry room, a main room with a dressing room, a bathroom with a shower and a balcony, two bedrooms (each with its own bathroom) and...
Alisa Estejt
310 000 €
Apartment in Milan, Italy
45 sq.m211
We offer a brand new apartment in Milan. In a building in the old Milanese style, with one bedroom, on the second floor, without elevator. Fully furnished, furnished with furniture and household appliances. The apartment is located near the center.
It consists of: a spacious living room with protruding balconies, a separate kitchen-dining...
Alisa Estejt
449 000 €
Villa in Milan, Italy
97 sq.m4
Beautifully renovated city villa with a private entrance and a cozy terrace of 20 square meters. The object is located in the courtyard of a 1960s house on one of the most popular streets of the No.Lo district. a stone's throw from Liberty Park. The internal property consists of: on the ground floor there is a large one-bedroom apartment of...
Alisa Estejt
Price on request
Apartment in Milan, Italy
300 sq.m33
In the heart of one of Milan's most sought-after districts, a few steps from the leafy gardens of the City Life area, this elegant and bright renovated penthouse is for sale with a stunning planted terrace. This 330-sqm apartment is located on the top two floors of a beautiful historical building equipped with a lift and concierge service. All...
Lionard Luxury Real Estate
312 000 €
Apartment in Milan, Italy
47 sq.m21
Rental property
New elegant, one-bedroom apartment with a balcony Metro Pasteur A strategic location served by two lines of the Milan metro MM1 PASTEUR, AND MM1-MM2 LORETO More precisely, on Via Pietro Crespi, 11, on the third floor with an elevator, in an old Milanese-style building with a balcony. The residential reality, presented in a modern version of...
Alisa Estejt
Price on request
House in Milan, Italy
1200 sq.m710
A luxurious loft in a modern design is for sale in a prestigious area of Milan's city centre, along the Naviglio Grande. This exclusive Milanese estate has just been renovated in a sophisticated contemporary style, with elegant, high-quality furnishings and the most advanced domestic systems. Developed on three levels, for an internal surface of...
Lionard Luxury Real Estate
340 000 €
Apartment in Milan, Italy
160 sq.m432
In the nearest suburb of Milan, a 10-minute walk from Bussero metro station, a cozy, bright 3-bedroom, two-storey apartment is offered for sale.
The apartment is located in a house with a separate entrance from the street and has two entrances to the apartment and to the room on the ground floor, which can be used as two separate units.
At...
Alisa Estejt
2 100 000 €
Apartment in Milan, Italy
280 sq.m44
In the renowned San Siro district is this luxury 200-sqm apartment for sale with a 280-sqm external space of 200 sqm. Located in one of Milan's most sought-after areas, this apartment combines residential tranquillity with proximity to the city's main points of interest. The apartment is on the 3rd floor of a charming building. The entrance...
Lionard Luxury Real Estate
780 000 €
Apartment in Milan, Italy
100 sq.m322
In an elegant old building, recently renovated and with concierge services, we offer a two-bedroom apartment of 100 m2 in excellent condition on the second floor without an elevator.
The apartment consists of: an entrance hall, a large living room with a fireplace, a double bedroom with a separate bathroom and a large dressing room, a...
Alisa Estejt
2 100 000 €
Apartment in Milan, Italy
263 sq.m53
In the renowned district of San Siro, in Milan, an apartment of 263 square meters is located for sale, located on the eighth floor of a modern building, with about 60 square meters of panoramic terraces and a boundless view of the city and the Alps. The high position and the triple exposure ensure privacy, brightness and a breathtaking panoramic...
Lionard Luxury Real Estate
Price on request
Apartment in Milan, Italy
400 sq.m57
In the area of San Siro in Milan, a luxurious penthouse with an area of 400 the complex Residenza auriga. This two-level house with a concierge service and video surveillance is updated using advanced technologies, including house equipment and solar panels. Features include an exotic terrace with an area of 220 sq.m, with a heated pool,...
Lionard Luxury Real Estate
2 760 000 €
Apartment in Milan, Italy
160 sq.m32
An exclusive 160-sqm apartment is for sale in the heart of Milan, near Piazza San Babila. Situated on the second floor of an elegant building, this property offers easy access to Milan's iconic landmarks like the Cathedral, Galleria Vittorio Emanuele II, and Teatro alla Scala. Milan is renowned for its fashion, design, history, and culture, with...
Lionard Luxury Real Estate
360 000 €
Flat in Milan, Italy
48 sq.m22
In the ancient district of Milan Via Cenisio, near the arch of Arco della Pace, Sempione Park and City Life, we offer apartments of various sizes and typologies in a historic six-storey building, which is currently undergoing complete restoration with the replacement of all communications. The redevelopment includes the reconstruction of the...
NF Group
Price on request
Apartment in Milan, Italy
310 sq.m64
This apartment for sale is part of an elegant building in a prestigious residential area in Milan. This estate is on the first floor of a modern building, has two floors connected by a staircase and measures 310 m2 overall, besides 100 m2 of terraces. This apartment can also be divided into two independent units. On the ground floor of this...
