Milan Property Prices, Rents & Rental Yields

About Milan

Milan blends historic elegance with a deep business, fashion, and design identity, making it one of Italy’s most closely watched urban markets. Its apartment stock sits within a city shaped by strong institutions, major transport links, and a constant international profile.

July 2026 points to a market where pricing is easing while income assumptions remain comparatively firm. The average apartment sale price stands at €378,000, down 0.5% month over month and 0.3% year over year, while the average price per square metre is €4,780, up 1.0% over the year but also down 0.5% from the previous month. That combination suggests a city where valuations are adjusting unevenly rather than moving in one direction.

For investors, the clearest tension is between purchase prices that are softening and rents that have come under more pressure. The average apartment rent is €1,350, down 2.2% month over month and 8.8% year over year, which makes the current yield of 5.17% more notable than the rent trend alone might suggest. In practical terms, Milan is still pricing as a premium Italian city, but July’s figures show that the rental side is doing less of the support work than it was a year ago.

That leaves the market in a measured, selective phase. The numbers do not point to a broad correction, but they do show that the balance between capital values and rental returns is less comfortable than it was earlier in the cycle. For apartment investors, Milan remains a benchmark market, yet July 2026 favours close attention to entry price and yield discipline.