Milan Property Prices, Rents & Rental Yields

About Milan

Milan is Italy’s financial and design capital, where historic streets, landmark districts, and a dense urban fabric meet a broad apartment market. Its central role in business, fashion, and culture continues to make the city a closely watched reference point for residential investors.

August 2026 opens with the clearest signal being a mixed pricing picture rather than a simple upswing. The average apartment sale price sits at €375,000, while the average price per square meter is €4,810, up 0.5% month over month and 1.2% year over year. That indicates values are still edging forward at the unit level even as headline pricing softens.

The tension is sharper on the income side. Average rent is €1,400, up 3.7% from the previous month, yet still 3.4% lower than a year earlier. Against that backdrop, the reported gross yield of 5.26% shows why apartments in Milan remain investable, but also why returns now depend more on careful pricing than on broad market momentum.

For investors, the message this month is restraint rather than retreat. Sale prices are down 0.8% month over month and 1.3% year over year, suggesting sellers are meeting a more selective market while rental values are recovering only gradually. In Milan, the opportunity lies in that gap: stable per-square-meter pricing, firmer monthly rents, and a yield that still supports the case for long-term apartment ownership.