1. Fashion Capital: Milan is recognized as one of the fashion capitals of the world, hosting the prestigious Milan Fashion Week twice a year, where top designers showcase their latest collections. 2. Historical Canals: The city features a network of navigable canals known as the Navigli, which were designed by Leonardo da Vinci. These canals were historically used for transporting goods and now serve as a vibrant area for dining and nightlife. 3. Home of the Last Supper: Milan is home to Leonardo da Vinci's famous mural, "The Last Supper," located in the Convent of Santa Maria delle Grazie. This masterpiece attracts art lovers from around the globe and is considered one of the most important works of art in history.
Based on the search results and available information, here is a comprehensive report on the current state of housing in Milan, Italy:
Housing Market Overview
The housing market in Milan has seen significant price increases in recent years, particularly since the COVID-19 pandemic. As of 2023, the average price per square meter for residential properties in central Milan exceeds €7,000[7]. Rental prices have also increased, with the average rent for a two-room apartment in the city center reaching around €1,500 per month[7].
Price Ranges
- Buying: €2,300-€7,000+ per square meter, depending on location and property type[1][3]
- Renting: €450-€1,500+ per month, varying by size and location[1][3]
Ownership vs. Rental
While specific data for Milan is not provided in the search results, Italy as a whole has a high rate of homeownership. However, in urban areas like Milan, rental rates tend to be higher than the national average.
Public and Social Housing
Public housing plays a significant role in Milan's housing landscape:
- Approximately 8% of the total housing tenure in Milan is public housing[6]
- There are an estimated 6,000 vacant public housing units in the city[6]
- Over the past 30 years, about 30,000 public housing units have been privatized[6]
The city faces challenges in managing its public housing stock, including maintenance issues and long waiting lists for applicants.
Cooperative Housing
Cooperative housing is an important part of Milan's affordable housing strategy:
- The Consorzio Cooperative Lavoratori (CCL) has built about 15,000 housing units in Milan and its province since 1974[3]
- Cooperative housing projects often offer more affordable options, with prices significantly lower than market rates[3]
- For example, the Cohabitat Lambrate project offers apartments for sale at €2,150 per square meter and rentals at €75 per square meter[3]
City Policies and Initiatives
Milan has implemented several policies and initiatives to address housing affordability and sustainability:
- Affordable Housing Requirements: The city masterplan now requires that a minimum of 40% of the surface area of new residential buildings larger than 10,000 square meters be dedicated to affordable housing, with at least 20% for rent[2].
- Public-Private Partnerships: The city is promoting affordable housing through agreements with private operators, providing urban planning benefits in exchange for reduced prices and rents[2].
- C40 Reinventing Cities Programme: Milan has launched an international call for tenders to deliver at least 500 dwellings across 6 municipal areas with a rent upper limit of €500 per month for a three-room apartment[2].
- Student Housing Initiative: The city has organized a roundtable with public universities, private operators, and the Ministry of University and Research to promote new student accommodations with affordable rents[2].
- Housing Forum: In March 2023, Milan organized a forum bringing together various stakeholders to discuss challenges and solutions in the housing sector[2].
- Energy Efficiency and Sustainability: The city is implementing projects to improve the energy efficiency of existing housing stock, aligning with EU directives on building energy performance[4].
- Urban Regeneration: Milan is focusing on regenerating urban areas to create more sustainable and affordable housing options[4].
Promotion of Cooperative Housing
Milan actively supports cooperative housing models:
- Partnerships: The city collaborates with organizations like the Consorzio Cooperative Lavoratori (CCL) to develop affordable housing projects[3].
- Land Allocation: The city provides land through calls for tenders specifically for social housing and cooperative projects[3].
- Incentives: Urban planning benefits are offered to cooperative housing projects that meet affordability criteria[2][3].
- Integration with Urban Development: Cooperative housing is being incorporated into larger urban regeneration projects, such as the Porta Romana ex-railway yard development[3].
- Support for Innovative Models: The city encourages cooperative models that promote community engagement and sustainable living practices[3].
In conclusion, Milan is actively working to address its housing challenges through a combination of public housing management, support for cooperative housing models, and partnerships with private developers. While the city faces significant affordability issues, its multifaceted approach aims to create more accessible and sustainable housing options for its residents.
Citations: [1] https://www.properstar.com/italy/metropolitan-city-of-milan/house-price [2] https://oecdcogito.blog/2023/06/08/milans-masterplan-working-together-for-affordable-homes/ [3] https://coima.com/en/urban-stories/home-affordable-milan-cooperative-ccl-maggioni [4] https://www.eib.org/en/projects/all/20210779 [5] https://www.nestpick.com/milan/ [6] https://link.springer.com/article/10.1007/s10901-024-10127-4 [7] https://blog.roomlessrent.com/en/italy/milan/house-prices-in-milan-2024-how-rents-have-changed-since-the-pandemic/