Authored by the expert who managed and guided the team behind the Italy Property Pack
Yes, the analysis of Milan's property market is included in our pack
If you're wondering how much it costs to buy a home in Milan in 2026, you're in the right place.
We break down the current housing prices in Milan, from entry-level studios to luxury penthouses, with data we constantly update.
This article covers everything: average prices, price per square meter, neighborhood comparisons, and what you can actually buy at different budgets.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Milan.
Insights
- Milan property prices have grown about 65% over the past 10 years in nominal terms, but only around 30% when you adjust for inflation, showing that real gains have been more modest than headlines suggest.
- The gap between asking prices and actual sale prices in Milan is around 6.5%, which is tighter than the Italian national average of 7.8% because Milan's market is more competitive.
- Centro, Milan's historic core, commands the highest prices at around 11,000 euros per square meter, while peripheral areas like Bisceglie and Baggio sit at just 3,200 euros per square meter.
- New-build apartments in Milan sell for about 15% more per square meter than comparable existing homes, driven by energy efficiency requirements and limited new supply inside the city.
- Around 85% of Milan's residential listings are apartments, making houses and villas rare and typically priced at a significant premium when available.
- With 100,000 dollars in Milan, you essentially cannot buy a standard apartment. Your options are limited to micro-units under 20 square meters or parking spaces.
- The total cost of buying a property in Milan, including taxes, notary fees, and agency commissions, adds between 8% and 12% on top of the purchase price for primary residences.
- A 75-square-meter apartment in a mid-range Milan neighborhood like Citta Studi costs around 430,000 euros, while the same size in Porta Nuova would cost over 740,000 euros.
What is the average housing price in Milan in 2026?
The median housing price is more telling than the average because it represents the middle point of the market, without being skewed upward by ultra-luxury properties that can distort the true picture of what most buyers pay.
We are writing this as of the first half of 2026, using the latest data collected from authoritative Italian real estate portals and official government sources, all of which we manually verified for accuracy.
The median housing price in Milan in 2026 is approximately 400,000 euros (around $470,000 or €400,000), based on a typical 75-square-meter apartment. The average housing price in Milan is higher, at around 470,000 euros ($550,000 or €470,000), because luxury properties pull the mean upward.
About 80% of residential properties on the Milan market in 2026 fall within a price range of 250,000 to 900,000 euros ($290,000 to $1,050,000).
A realistic entry-level budget in Milan in 2026 is between 180,000 and 230,000 euros ($210,000 to $270,000), which can get you an existing studio or compact one-bedroom apartment of 35 to 45 square meters in peripheral areas like Bisceglie or Baggio.
A typical luxury property in Milan in 2026 ranges from 1,800,000 to 5,000,000 euros ($2.1 million to $5.9 million), which would buy you a renovated penthouse of 150 to 250 square meters in prime areas like Centro or Porta Nuova.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Milan.
Are Milan property listing prices close to the actual sale price in 2026?
In Milan in 2026, listing prices are typically around 6.5% higher than the final sale price.
This gap exists because sellers often test the market with optimistic asking prices, and buyers negotiate down based on inspection findings, financing conditions, or timing pressure. The discount tends to be smaller in high-demand central neighborhoods like Porta Nuova, where competition is fierce, and larger in peripheral zones or for properties needing renovation.
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What is the price per sq m or per sq ft for properties in Milan in 2026?
As of early 2026, the median housing price in Milan is approximately 5,400 euros per square meter ($6,300/sqm or €500/sqft and $585/sqft). The average price is slightly higher at around 5,600 euros per square meter ($6,550/sqm or €520/sqft and $610/sqft), reflecting the upward pull from luxury properties.
Prime central locations and renovated properties have the highest price per square meter in Milan in 2026, while peripheral areas with older building stock and weaker transit connections have the lowest, because location, scarcity, and building quality drive the biggest price differences.
The highest prices per square meter in Milan in 2026 are found in Centro (around 11,000 euros/sqm) and Porta Nuova (around 9,900 euros/sqm). The lowest prices are in peripheral neighborhoods like Bisceglie, Baggio, and Olmi, where you can find properties at around 3,200 euros per square meter.
How have property prices evolved in Milan?
Compared to one year ago, Milan property prices in 2026 are up about 3% in nominal terms, or roughly 1.5% after adjusting for inflation. This modest growth is driven by limited supply of move-in-ready homes and continued strong demand from both domestic buyers and international investors attracted to Milan's economic dynamism.
Over the past 10 years, Milan property prices have increased approximately 65% in nominal terms, which translates to about 30% in real (inflation-adjusted) terms. This long-term growth reflects Milan's transformation through major urban regeneration projects like Porta Nuova and the city's strengthening position as Italy's business and education hub.
By the way, we've written a blog article detailing the latest updates on property price variations in Milan.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Milan.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Italy versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What types of properties are available and how do prices vary in Milan in 2026?
In Milan in 2026, approximately 85% of residential listings are apartments, with penthouses making up about 5%, townhouses around 6%, villas about 2%, and lofts roughly 2%. This breakdown reflects Milan's dense urban character, where apartments dominate because land is scarce and most residents live in multi-unit buildings.
Average prices by property type in Milan as of the first half of 2026 vary significantly. Standard apartments average around 430,000 euros ($500,000), new-build apartments around 520,000 euros ($610,000), townhouses approximately 650,000 euros ($760,000), lofts about 550,000 euros ($640,000), villas around 1,400,000 euros ($1.64 million), and penthouses approximately 2,200,000 euros ($2.57 million).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Milan in 2026?
New-build properties in Milan in 2026 sell for approximately 15% more per square meter than comparable existing homes.
This premium exists because new construction meets stricter energy efficiency standards (important given EU regulations), requires no immediate renovation, and new supply inside Milan is limited, allowing developers to position projects as premium products.
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How do property prices vary by neighborhood in Milan in 2026?
In Porta Nuova and Garibaldi, Milan's modern business district, you'll find high-end apartments in contemporary buildings with concierge services, typically ranging from 700,000 to 900,000 euros ($820,000 to $1.05 million) for an 80-square-meter unit. Prices here are among Milan's highest because of the area's excellent transit connections, international business presence, and sleek new developments.
In Navigli, one of Milan's most popular lifestyle districts, apartments range from 460,000 to 570,000 euros ($540,000 to $670,000) for 80 square meters. The area attracts buyers willing to pay a premium for its canal-side charm, vibrant dining scene, and walkable streets, though apartments tend to be smaller for the price.
In Citta Studi, a university neighborhood popular with students and young professionals, 80-square-meter apartments cost between 415,000 and 510,000 euros ($485,000 to $600,000). This area offers better value per square meter because it's slightly farther from the center, though it has excellent public transport and a lively atmosphere.
You will find a much more detailed analysis by areas in our property pack about Milan. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range (80 sqm) | Price per sqm | Price per sqft |
|---|---|---|---|---|
| Centro | Prime / Historic | €800k-€975k ($935k-$1.14M) | €10,000-€12,200 ($11,700-$14,300) | €930-€1,130 ($1,085-$1,325) |
| Garibaldi, Porta Nuova | Business / Expat | €715k-€870k ($835k-$1.02M) | €8,900-€10,900 ($10,400-$12,750) | €830-€1,010 ($970-$1,185) |
| Arco della Pace, Pagano | Family / Prestige | €670k-€815k ($780k-$955k) | €8,350-€10,200 ($9,750-$11,900) | €775-€945 ($905-$1,105) |
| Quadronno, Palestro | Prestige | €650k-€795k ($760k-$930k) | €8,100-€9,900 ($9,500-$11,600) | €755-€920 ($885-$1,080) |
| Porta Venezia | Popular / Trendy | €570k-€695k ($665k-$815k) | €7,100-€8,700 ($8,300-$10,175) | €660-€810 ($775-$945) |
| Genova, Ticinese | Popular | €585k-€715k ($685k-$835k) | €7,300-€8,950 ($8,550-$10,450) | €680-€830 ($795-$970) |
| Navigli | Lifestyle | €465k-€570k ($545k-$670k) | €5,825-€7,125 ($6,815-$8,335) | €540-€660 ($630-$775) |
| Porta Romana | Family | €520k-€635k ($610k-$745k) | €6,500-€7,925 ($7,600-$9,275) | €600-€735 ($705-$860) |
| Centrale, Repubblica | Commute | €485k-€595k ($570k-$695k) | €6,100-€7,425 ($7,115-$8,700) | €565-€690 ($660-$810) |
| CityLife, Portello | Family / New-build | €495k-€605k ($580k-$710k) | €6,200-€7,575 ($7,250-$8,860) | €575-€705 ($675-€825) |
| Citta Studi | Students / Value | €415k-€510k ($485k-$595k) | €5,200-€6,350 ($6,075-$7,425) | €480-€590 ($565-$690) |
| Bisceglie, Baggio | Entry-level | €225k-€280k ($265k-$325k) | €2,850-€3,475 ($3,325-$4,065) | €265-€325 ($310-$380) |
How much more do you pay for properties in Milan when you include renovation work, taxes, and fees?
When buying a property in Milan in 2026, expect to pay an additional 8% to 12% on top of the purchase price for a primary residence, covering taxes, notary fees, and agency commissions, or 11% to 18% for a second home or investment property.
If you buy a property for around $200,000 (approximately 170,000 euros) in Milan, you should budget an extra 17,000 to 20,000 euros for taxes, notary, and agency fees. If the property needs a light renovation, add another 15,000 to 25,000 euros, bringing your total cost to roughly 200,000 to 215,000 euros ($235,000 to $250,000).
For a property at $500,000 (around 430,000 euros), additional fees would be approximately 35,000 to 50,000 euros. If a full renovation is needed for an 80-square-meter apartment, budget another 65,000 to 95,000 euros, making your all-in cost around 530,000 to 575,000 euros ($620,000 to $675,000).
At the $1,000,000 level (approximately 855,000 euros), expect fees of 70,000 to 100,000 euros. For a larger property requiring premium renovation, add 100,000 to 200,000 euros, pushing your total investment to roughly 1,025,000 to 1,155,000 euros ($1.2 million to $1.35 million).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Milan.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Milan
| Expense | Category | Estimated Cost Range |
|---|---|---|
| Agency fee | Fees | 2.5% to 4% of the purchase price (€8,500-€17,000 on a €425,000 property, or $10,000-$20,000). This fee is negotiable and typically split between buyer and seller, though practices vary by agency. |
| Notary fees | Fees | 1% to 2% of the purchase price (€4,250-€8,500 on a €425,000 property, or $5,000-$10,000). The notary handles the legal transfer, property checks, and registration with the land registry. |
| Purchase tax (primary residence) | Taxes | 2% to 4% of cadastral value for "prima casa" buyers (€3,000-€12,000 typical range, or $3,500-$14,000). The cadastral value is usually lower than market price, reducing the effective tax burden for owner-occupiers. |
| Purchase tax (second home/investment) | Taxes | 9% of cadastral value for non-primary residences (€8,000-€25,000 typical, or $9,350-$29,250). Investment buyers pay significantly higher registration taxes, making this an important budget consideration. |
| VAT (new-build from developer) | Taxes | 4% for primary residence or 10% for second home, applied to purchase price (€17,000-€42,500 on €425,000, or $20,000-$50,000). New builds from VAT-registered developers use this system instead of registration tax. |
| Light renovation | Renovation | €300 to €600 per square meter ($350-$700/sqm). This covers cosmetic updates like painting, flooring, and fixture replacement without structural changes. Budget €24,000-€48,000 for an 80 sqm apartment. |
| Full renovation | Renovation | €800 to €1,500 per square meter ($935-$1,755/sqm). This includes kitchen and bathroom overhauls, electrical rewiring, and plumbing updates. An 80 sqm apartment would cost €64,000-€120,000 for a complete renovation. |
| Premium renovation | Renovation | €1,500 to €2,500+ per square meter ($1,755-$2,925+/sqm). High-end finishes, custom cabinetry, smart home systems, and designer fixtures fall into this category. Expect €120,000-€200,000+ for an 80 sqm luxury renovation. |
We made this infographic to show you how property prices in Italy compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Milan in 2026 with different budgets?
With $100,000 (approximately 85,500 euros) in Milan in 2026, you essentially cannot purchase a standard apartment. Your options are limited to micro-units under 20 square meters in far-peripheral areas, distressed auction properties requiring major work, or parking spaces and garages.
With $200,000 (approximately 171,000 euros), you could find a 35-square-meter older studio in Bisceglie or Baggio needing updates, a 30-square-meter studio near Affori or Bovisa in 1960s-era buildings, or an auction property around 40 square meters in a peripheral ring requiring renovation.
With $300,000 (approximately 256,500 euros), you could purchase a 45-square-meter existing one-bedroom in Bisceglie or Baggio in decent condition, a 50-square-meter older unit in Bicocca or Niguarda, or a 40-square-meter apartment in Cimiano or Crescenzago, all existing stock.
With $500,000 (approximately 427,500 euros), your options expand significantly: a 75-square-meter existing apartment in Citta Studi, a 65-square-meter apartment near Centrale or Repubblica with excellent transit access, or a 60 to 70-square-meter unit in the trendy Navigli district.
With $1,000,000 (approximately 855,000 euros), you can access prime locations: a 90-square-meter apartment in Porta Nuova or Garibaldi, a spacious 120-square-meter family apartment in Arco della Pace or Pagano, or a 125-square-meter unit in the desirable Porta Romana neighborhood.
With $2,000,000 (approximately 1,710,000 euros), you enter the luxury market: a 155-square-meter renovated apartment in Milan's historic Centro, a 180 to 200-square-meter unit in a modern Porta Nuova high-rise with concierge services, or a 200+ square-meter prestige property in the classic Quadronno or Palestro neighborhoods.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Milan.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Milan, we always rely on the strongest methodology we can, and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Immobiliare.it | Italy's largest property portal with transparent, listing-based price metrics updated monthly by zone. | We used it as our main benchmark for Milan asking prices in late 2025. We also used its zone table to build neighborhood price ranges and identify the cheapest and most expensive areas. |
| Idealista | Major European portal with a consistent historical price series and clear methodology documentation. | We used it to cross-check citywide price levels and calculate the 10-year nominal change using January 2016 versus late-2025 values. We also verified our January 2026 estimate wasn't an outlier. |
| Agenzia delle Entrate (OMI) | Italy's official real estate report built from cadastre, registry, and OMI administrative archives. | We used it to anchor official market context and transaction structure. We also referenced it to explain why listing prices can differ from transaction prices due to negotiation and financing factors. |
| Banca d'Italia | Italy's central bank runs a recurring, methodologically stable survey on housing market conditions. | We used it to quantify the typical gap between asking and selling prices nationally. We then adjusted that figure to a Milan-specific estimate based on the city's tighter market conditions. |
| ISTAT House Price Index | Italy's national statistics institute provides the official transaction-price index for dwellings. | We used it to frame the macro direction of Italian housing prices. This ensures our Milan listing-based metrics aren't misread as representing national trends. |
| European Central Bank | The ECB reference rate is the standard, widely cited benchmark for currency conversions in Europe. | We used it to convert all euro amounts to US dollars consistently throughout our analysis. We used late-December 2025 rates as the closest observable reference for January 2026. |
| Eurostat HICP via FRED | Official EU statistics providing a clean monthly index for inflation adjustment in Italy. | We used it to convert nominal price changes into inflation-adjusted real changes. This allowed us to calculate both 1-year and 10-year real price growth for Milan properties. |
| Immobiliare.it Zone Data | Provides granular neighborhood-level price breakdowns for all Milan districts. | We used the zone table to identify the 12 neighborhoods in our comparison chart. We applied plus or minus 10% ranges around zone averages to create practical price bands. |
| Idealista Historical Data | Offers a long, consistent time series allowing reliable year-over-year and decade comparisons. | We used January 2016 data as our baseline for the 10-year comparison. We compared it against December 2025 readings to calculate the 65% nominal price increase. |
| Agenzia delle Entrate Tax Guidelines | Official source for Italian property purchase taxes and registration requirements. | We used it to compile the fee and tax ranges in our cost table. We distinguished between primary residence and second home tax treatments as outlined in official guidelines. |
| Banca d'Italia Q2 2025 Survey | Most recent survey data on negotiation discounts and market liquidity across Italian regions. | We used the 7.8% national discount figure and adjusted it to 6.5% for Milan. This reflects Milan's tighter supply-demand balance compared to the broader Italian market. |
| FRED Italy HICP Raw Data | Provides the exact index values needed for precise inflation calculations. | We used the January 2016 index value of 98.4 and November 2025 value of 124.7 to calculate 27% cumulative inflation. This allowed us to derive the 30% real price growth figure. |
| Immobiliare.it Listing Distribution | Shows the breakdown of property types currently listed on Italy's largest portal. | We analyzed listing counts by property type to estimate that 85% of Milan's market is apartments. We used this to explain why houses and villas command significant premiums. |
| ECB Historical Rates | Official historical exchange rate data for consistent multi-period comparisons. | We used the late-December 2025 rate of 1 euro equals $1.17 for all conversions. We also used this rate to convert dollar budgets to euros in our "what you can buy" section. |
| OMI Transaction Data | Official transaction volumes and property type distributions from Italy's tax authority. | We cross-referenced portal listing data against official transaction statistics. This helped validate our property type breakdown and price estimates against actual sales data. |
| ISTAT HICP Archive | Italy's national statistics office maintains comprehensive inflation data. | We used it to verify our Eurostat-sourced inflation figures. This double-check ensured our real price growth calculations were based on accurate inflation adjustments. |
| Immobiliare.it Price Trends | Shows month-over-month and year-over-year price changes for Milan listings. | We used the November 2024 to November 2025 comparison showing 3.04% growth. This became the basis for our one-year price change analysis. |
| Idealista Methodology Notes | Explains how Idealista calculates its price indices and what data they include. | We reviewed their methodology to understand any differences from Immobiliare.it. This helped us triangulate between sources and arrive at our midpoint estimate. |
| Banca d'Italia Survey Archive | Historical survey data allows tracking of market conditions over time. | We reviewed multiple survey periods to confirm the listing-to-sale discount range has been stable. This gave us confidence in using the 6.5% Milan-specific estimate. |
| Agenzia delle Entrate Cadastral Values | Official reference for cadastral values used in Italian property tax calculations. | We used cadastral value information to explain why purchase taxes are often lower than they appear. Cadastral values typically fall below market prices, reducing effective tax rates. |
| Immobiliare.it New vs Existing | Allows comparison between new-build and existing property prices in the same areas. | We calculated the approximately 15% new-build premium by comparing average prices for new developments against existing stock in equivalent Milan neighborhoods. |
| FRED Italy Inflation Series | Provides monthly data points enabling precise period-to-period inflation adjustments. | We used year-over-year inflation rates of approximately 1.5% to adjust nominal 2025-2026 price growth. This resulted in our real growth estimate of about 1.5%. |
| Idealista Long-term Trends | Multi-year data series essential for understanding Milan's property market evolution. | We used the 2016 baseline of 3,263 euros per square meter to calculate long-term growth. Comparing to 2025 levels showed the 65% nominal and 30% real appreciation over 10 years. |
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