Market Spotlight: Milan

Time：2024-08-01 Click：

Exploring the city’s booming luxury housing segment, up-and-coming neighborhoods and tips from notable residents
Originally Published June 24, 2024
All photos courtesy of Getty Images unless otherwise noted.
Milan, Italy’s economic powerhouse, has welcomed a steady stream of new wealth since the country created a tax law in 2017 that’s appealed to the world’s ultra rich.
But the beauty of the city, in the words of fashion photographer and American transplant Scott Schuman, “is the mystery.”
You need only a brush with pop culture to understand the character of New York, London or Paris. By contrast, Milan rarely makes its way into the mainstream zeitgeist outside of seasonal Fashion Weeks, and often plays second fiddle to heavyweight tourist destinations like Rome, Florence and Venice. But it shouldn’t, as any local will tell you.
From the city’s imposing, Gothic cathedral and hidden piazzas to the exquisite local restaurants and effortless style of the Milanese, charm abounds in Milan. Our five-part series offers a guide for curious house hunters and daydreamers alike.
Milan’s Luxury Homes Are Taking a New Shape as Wealth Descends on the City
Milan, the wealthiest city in Italy, has also been attracting the country’s richest property buyers―and seeing some of the nation’s highest prices for luxury housing as a result.
A global hub of fashion and design, the northern city of 1.4 million people “is a very small market, with limited inventory right now,” according to Roberto Magaglio, a partner with Engel & Volkers Milan...Read More
From Aperitivo Culture to Fashion, Metropolitan Milan Stands Apart From Its Neighbors
Milan has a magnetic pull that differs from the other leading lights of Italy. The city is home to several of the most well-known buildings and pieces of art in all of Italy, yet rather than a strict reliance on its past, is more forward looking than its neighbors.
Rome is a historic epicenter contained within a chaotic present, Venice is a living postcard that's unique to itself, and few places match the condensed charm represented by cultural powerhouse Florence. What of Milan, then...Read More
Milan’s Eclectic, but Often Hidden, Architecture Rewards the Intrepid
Milan—a beguiling blend of old and new, perhaps better known for its cutting-edge fashion and design scenes than for its historic architecture—is a city that rewards curiosity.
Its beauty “is not necessarily the facades, such as in Paris, or the ancient ruins, as in Rome,” said Italian architect and designer Hannes Peer. “It’s not an obvious beauty. It’s more like a hidden beauty that you have to find...Read More
Three Milan Neighborhoods on the Rise
Italy’s northern city Milan mixes the charm of the Italian way of life with an international sensibility that’s unique to the country's second-most-populous city.
“Milan has been able to keep up with the cosmopolitan side of Europe,” said Augustine Evrard, a real estate agent at Engel & Völkers Milan. “You sort of find that in Rome, but not really...Read More
An Insider Guide to Milan
Milan can be imposing—it’s a bustling center of global finance, after all—and its charms are not always as easy to surmise at first glance as, say, Renaissance capital Florence or beguiling Venice.
But locals are well-acquainted with a secret Milan, a city of ancient nooks and crannies as well as modern design triumphs...Read More