Milan is the most expensive city in Italy for rents

The myth of Milan as the best metropolis in Italy, the undisputed capital of fashion and the realm of opportunity, continues to creak. This is confirmed by a survey by Idealista, reported by Milano Today, which underlines that rents have reached record highs: last December, the price of rental flats reached 21 euros per square meter. As a result of inflation and an unstable socio-economic balance, rents in the province of Milan increased by 0.6% between November and December 2022 (and by 1.4% if we consider only the city), while they increased by +2.4% compared to September 2002 (+5% excluding the surrounding area). In one year, between December 2021 and December 2022, growth was +8.4% (+11.2% in the city). On the other hand, the data also say that Lombardy remains first in the income ranking with a RGA (annual global remuneration, including variable) of 32,191 euro, followed by Lazio and Trentino: the capital is officially the wealthiest city in Italy, reaching an all-time high since the introduction of the Idealist Index in 2012, but also the most expensive.

A few weeks ago, a study by Sole 24 Ore showed that the metropolis ranked eighth in terms of quality of life, dropping a good six places from the previous year. «In 2022 - Vincenzo De Tommaso, head of Idealista's research office - the imbalance between supply and demand in the rental housing sector has worsened. The lack of available housing and inflation has driven up prices, with double-digit increases in many major markets such as Milan, Bologna, Florence, Genoa, and Turin.»