Is buying a property in Brera a good investment?

Last updated on December 29, 2023

Yes, the analysis of Milan's property market is included in our pack

If you've appreciated the artistic charm and cultural richness in Brera, you may have thought about living in this fashionable Milan neighborhood.

Is it a good idea though? What's the current state of the real estate market in that area? Are property values appreciating or depreciating? Are investors seeing returns on their real estate investments? How's the demand for rentals?

We'll answer all these questions for you! When building and updating our property pack for Italy, our team has been researching and surveying this area. In fact, there is significant customer interest in investing there. Therefore, we believe it would be beneficial to include some information about it in our property pack.

Why do property buyers like investing in Brera?

Brera, nestled in the heart of Milan, stands out as a highly sought-after location for property buyers, and there are several reasons why it's particularly appealing.

Think of Brera as a canvas that blends historical charm with contemporary luxury, a feature that sets it apart from other real estate markets.

One of the first things you'll notice about Brera is its unique artistic and cultural ambiance. This area is famously home to the Brera Art Gallery, one of Italy's most significant art collections, and the Brera Academy, a prestigious fine arts institution.

This artistic heritage infuses the district with a bohemian and sophisticated vibe that's hard to find elsewhere.

But Brera isn't just about art. Its picturesque streets, lined with antique shops, quaint cafes, and upscale boutiques, offer a distinct lifestyle that appeals to those who appreciate the finer things in life.

The architecture here is a mix of charming old-world buildings and sleek, modern apartments, offering a variety of choices for property buyers.

Compared to other areas in Milan, Brera is like the quieter, more refined sibling. While areas like Porta Nuova are known for their ultra-modern skyscrapers and business-centric environment, Brera offers a more laid-back, culturally rich living experience.

This contrast is particularly appealing to buyers looking for a balance between the hustle of city life and the tranquility of a historical neighborhood.

Brera's popularity as a real estate hotspot has been steadily growing, especially since the early 2000s. This growth was fueled by the area's cultural resurgence and the increasing demand for properties that offer both luxury and character. The question of whether this hype will remain is interesting.

Given its unique characteristics and the ongoing desire for properties that offer more than just a place to live, it's likely that Brera will continue to be a sought-after location. The limited availability of properties in this area also adds to its exclusivity and appeal.

The kind of people attracted to Brera are diverse, but they usually share a common appreciation for art, culture, and a refined lifestyle.

This includes professionals, artists, and those in creative fields, as well as international buyers looking for a slice of Milanese elegance. The area's charm isn't only in its streets and buildings but also in the community that calls it home.

However, it's important to consider some potential drawbacks. Brera, with its allure, does come with a higher price tag, which might be a barrier for some buyers. The area can also be quite busy with tourists, especially during peak seasons, which might not appeal to those looking for a more secluded environment.

Additionally, the historical nature of many buildings means that some properties might need renovations or lack modern amenities that new constructions offer.

So, while Brera offers a unique blend of art, culture, and stylish living, it's important for potential buyers to weigh these aspects against their personal preferences and requirements.

The area certainly has a lot to offer, but like any real estate market, it's about finding the right fit for your lifestyle and needs.

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Why is Brera a nice place to live?

Living in Brera offers a unique experience that blends cultural richness, convenience, and style, making it a desirable location for many.

The lifestyle in Brera is characterized by a blend of historical charm and modern sophistication. With its cobblestone streets, elegant boutiques, and vibrant art scene, Brera provides a picturesque and cultured environment that's hard to match.

It's like stepping into a living canvas, where every corner has a story to tell, from the Brera Art Gallery to the lush greenery of the Orto Botanico di Brera.

The expat community in Brera is quite thriving, thanks to the area's appeal to those seeking a cosmopolitan lifestyle. Many expatriates are drawn to the area's artistic vibe and the blend of Italian tradition with international flair.

This creates a welcoming environment for newcomers, offering both a sense of community and the opportunity to immerse oneself in Italian culture.

Regarding living costs, Brera is one of the more upscale districts in Milan. This means that housing and general living expenses can be quite high compared to other parts of the city. The price of elegance and exclusivity in Brera does come at a premium, but for many, the unique lifestyle and ambiance of the area are worth it.

In terms of safety, Brera is generally considered a safe area. Its bustling streets, especially during the day, create a secure and lively atmosphere.

However, as with any urban area, it's always wise to stay aware of your surroundings and take standard safety precautions.

Brera is also well-equipped with various amenities and facilities. For educational institutions, there's the Brera Academy, a prestigious art school. Healthcare facilities include the nearby Ospedale Maggiore Policlinico, a renowned hospital providing excellent medical care.

For shopping and leisure, the district is filled with high-end shops, art galleries, and quaint cafes, offering a unique shopping experience far from the generic malls.

The quality of infrastructure in Brera is quite good, with well-maintained roads and reliable utilities. Internet connectivity is generally strong, catering to both the residential and business needs of the area. This makes Brera an ideal place for those who work remotely or rely heavily on digital connectivity.

Accessibility is one of Brera's strong suits. It's well connected to other parts of Milan, making it easy to explore the city.

The district is also conveniently located near major transport hubs, including Milano Centrale railway station, which connects to various national and international destinations. Linate Airport, the closest airport to Milan's city center, is also easily accessible from Brera.

Public transportation options in Brera are abundant, with a network of trams, buses, and the metro. The Moscova and Lanza metro stations on the M2 line and the Turati station on the M3 line serve the area, providing efficient and quick connections to the rest of the city.

While it might come with a higher price tag, the quality of life, safety, and the richness of experiences available make it an appealing choice for many looking for a distinctive urban living experience in Milan.

How much does it cost to buy real estate in Brera?

If you need a detailed and updated analysis of the prices, rents and yields, you can get our full guide about real estate investment in Italy.

When considering buying property in Brera it's important to understand the unique aspects of this real estate market.

Brera is known for its elegant and historical ambiance, which is reflected in the types of properties available.

The area predominantly features apartments, including both traditional Milanese buildings with charming features like balconies and high ceilings, and more modern, luxurious apartments.

Houses and luxury villas are less common in this dense urban setting, but when they do appear on the market, they're highly sought after for their rarity and unique characteristics.

The demand in Brera is particularly high for apartments that blend historical charm with modern amenities. These properties cater to those who value the cultural richness and architectural beauty of old Milan while desiring the comforts of contemporary living. The limited availability of such properties adds to their allure and demand.

Regarding the property landscape, Brera is an area with a blend of both resale properties and new developments.

However, due to its historical nature and strict building regulations aimed at preserving the area's character, the number of new developments is relatively limited compared to other parts of Milan. This scarcity of new builds adds a premium to existing properties, especially those that are well-maintained or recently renovated.

Prices in Brera are among the highest in Milan. The cost per square meter can vary significantly based on factors like the property's size, condition, and exact location within the neighborhood.

As a rough guide, you can expect prices to range significantly, with premium properties fetching even higher prices. It's important to note that these figures can fluctuate based on market conditions and specific property characteristics.

Over recent years, property values in Brera have shown a tendency to increase. This trend is driven by the area's enduring appeal, limited property availability, and the general growth of Milan as a desirable city for both living and investment.

Given its status and the ongoing demand for properties in central, historical locations, Brera's real estate market has remained relatively resilient.

Looking at the future, there are several factors to consider. Any upcoming developments or city planning changes in Milan, especially those focusing on improving infrastructure, public spaces, or connectivity, could further enhance Brera's appeal and potentially affect property values.

Specific names or projects might be in the pipeline that could have an impact, but generally, enhancements to urban living and accessibility tend to positively influence real estate values.

Predicting the future of the real estate market in Brera involves considering a mix of these factors. The ongoing appeal of living in a culturally rich, conveniently located, and historically significant area.

It’s combined with the limited availability of new properties, suggests that Brera will likely continue to be a high-demand and high-value area.

Factors that could indicate a potential increase in value include further urban development projects in Milan, increased demand for properties in central locations, and the continued allure of Brera's unique lifestyle offerings.

Where is the best area to buy a property in Brera?

Finding the best area to buy a property in Brera involves understanding the subtle differences in atmosphere, property types, and prices across the neighborhood, known for its artistic and bohemian charm, offers various facets within its own boundaries.

The heart of Brera, particularly around the Brera Art Gallery and the Academy of Fine Arts, is known for its bustling artistic atmosphere. This area is lined with antique shops, art galleries, and quaint cafes, providing a vibrant and culturally rich living experience.

Properties here mainly consist of historic buildings converted into apartments, often retaining their original architectural charm. Due to the central location and the cultural significance of the area, prices here tend to be higher, reflecting the demand for this unique living experience.

Moving slightly away from the center, you'll find areas that offer a more tranquil residential atmosphere while still being close to the core of Brera. Streets like Via Madonnina or Via Fiori Chiari are slightly quieter but still embody the characteristic Brera charm.

These areas might offer more spacious apartments, some with private terraces or gardens, which is a rarity in this dense urban neighborhood. Prices in these areas can be somewhat more approachable compared to the very heart of Brera, though they are still on the higher end due to the overall desirability of the neighborhood.

As for up-and-coming areas within Brera, it's a bit of a challenge since the neighborhood is already well-established and highly coveted.

However, areas bordering Brera, like parts of Moscova or Porta Nuova, have seen significant development and could be considered promising in terms of investment and future value appreciation.

These neighboring areas offer a more contemporary living experience, with newer buildings and modern amenities, often at slightly lower prices than central Brera.

In terms of where to look for a property, it really depends on what you're seeking. If a vibrant, culturally rich lifestyle appeals to you, then the areas around the Brera Art Gallery and the Academy are ideal.

If you prefer a quieter but still centrally located spot, then exploring the quieter streets off the main thoroughfares could be rewarding.

On the contrary, areas immediately adjacent to major tourist attractions or the busiest streets might not be advisable for those seeking peace and quiet. These spots can get quite crowded, especially during peak tourist seasons, which could detract from the living experience if you prefer a more secluded environment.

Here is a summary table to help you visualize better. If you need more detailed data and information, please check our property pack for Italy.

Area	Atmosphere	Property Types	Price Range
Central Brera (near Brera Art Gallery & Academy)	Bustling, Artistic	Historic apartments	Higher
Via Madonnina / Via Fiori Chiari	Quieter, Residential	Spacious apartments, some with terraces/gardens	Moderately High
Bordering Areas (Moscova, Porta Nuova)	Contemporary, Developing	Modern apartments, new developments	Varies, generally lower than Central Brera
Near Major Tourist Attractions	Crowded, Touristy	Varied, often smaller apartments	Depends on exact location

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Is there a strong rental demand in Brera?

In Brera the rental demand is indeed strong, but it's nuanced in terms of the type of rental and the target demographic.

Brera, with its rich cultural backdrop and central location, attracts a diverse range of tenants, and this diversity is reflected in the rental market.

The demand for rentals in Brera tends to skew more towards short-term leases, largely due to the area's appeal to tourists and business travelers.

However, there's also a significant market for long-term rentals, particularly among professionals, expatriates, and students from the Brera Academy of Fine Arts and other nearby institutions.

The profile of potential tenants in Brera is quite varied. For short-term rentals, tourists and business travelers are predominant. These tenants are typically looking for properties that offer a blend of Milanese charm and modern amenities.

For long-term rentals, the tenants are often professionals working in Milan, expatriates, or students. These groups tend to look for well-maintained, functional apartments that offer a sense of home in this bustling district.

When it comes to the types of properties in demand, there's a preference for apartments that mirror the artistic and historical essence of Brera. Properties with unique architectural features, such as exposed beams or frescoed ceilings, are especially sought after.

Modern apartments with contemporary fittings are also in demand, as they cater to tenants looking for comfort and convenience.

The most coveted areas for rentals in Brera include the streets surrounding the Brera Art Gallery, Via Madonnina, and Via Fiori Chiari. These locations offer a quintessential Brera experience, combining the allure of art galleries, boutique shops, and quaint cafes with the convenience of living in the city center.

In terms of amenities, features like high-speed internet, modern kitchens, and air conditioning can significantly reduce vacancy rates. In a city like Milan, where summers can be hot, air conditioning is not just a luxury but a necessity for many. High-speed internet appeals to professionals and students who may work or study from home.

Regarding potential returns on investment, properties in Brera can yield attractive rental incomes, particularly if they're well-positioned and well-maintained. Given the high demand for rentals, especially short-term, landlords can expect a steady income stream.

Finally, in terms of property types that are gaining demand and could potentially offer better yields, renovated apartments that combine historical charm with modern amenities are becoming increasingly popular.

These properties appeal to a wide range of tenants and stand out in the rental market for their unique blend of old-world charm and contemporary comfort.

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Is it easy to buy a property as foreigner in Brera?

Before we answer the question, please know that we have an article dedicated to the experience of buying real estate as a foreigner in Italy.

Buying property in Brera, Milan as a foreigner is generally straightforward, but there are certain aspects and regulations you should be aware of to ensure a smooth process.

Firstly, in Italy, there aren't any specific regulations or restrictions that exclusively apply to foreign buyers. This means that as a foreigner, you have the same rights to buy property as Italian citizens do.

However, the purchasing process in Italy, including Brera, involves several steps that can be quite complex, especially if you're not familiar with the local real estate market and legal system.

The process typically starts with finding a property and making an offer. Once the offer is accepted, a preliminary contract (compromesso) is signed, and a deposit is usually paid. This is followed by the due diligence process, where all necessary checks on the property are conducted.

Finally, the sale is completed with the signing of the deed of sale (rogito) in front of a notary, and the remaining balance is paid.

One of the primary risks associated with property investment in Brera, as with any real estate investment, is market fluctuation. Property values can go up or down based on various factors, including economic conditions and changes in the neighborhood.

Additionally, as Brera is a historical center, some properties might be subject to preservation regulations, which can limit renovation options and increase maintenance costs.

There are classic pitfalls or common mistakes that people, especially foreigners, face when buying property in Italy. One unique aspect is the complexity of Italian bureaucracy. The process can be slow and requires various documents and permissions, especially if the property is a historic building.

Another common issue is underestimating renovation costs and timelines, which can be significantly higher than expected in historical areas like Brera.

Working with a local real estate agent or lawyer is crucial in navigating these challenges. They can provide valuable insights into the local market, assist with the legal aspects of the transaction, and help avoid common pitfalls.

A local expert can also aid in understanding and adhering to preservation regulations, should they apply to your property.

As for exit strategies for property investors in Brera, the most common approach is to sell the property when its value appreciates. Given Brera's desirability and the limited availability of properties, well-maintained properties in good locations can potentially yield a good return on investment.

Another strategy is renting out the property, either for long-term leases to residents or as a short-term rental for tourists, which can provide a steady income stream.