This article was translated automatically from Italian.
Nomisma 2025 Report on the Property Market: Detailed analysis with a focus on Milan and CityLife
Nomisma 2025 Report on the Property Market:
Detailed analysis with a focus on Milan and CityLife
As every year, we at Immobiliare Pavè analyse the annual report on the property market produced by Nomisma, a key document for understanding the dynamics and trends of the sector at national level and, above all, with particular attention to the Milan market.
General Overview of the Italian Market
According to the 1st Nomisma Report 2025, the Italian property market is going through a phase of recovery, characterised by a moderate but steady increase in sales and a stabilisation of prices. In 2024, residential sales rose by 1.3%, thanks above all to a significant acceleration in the fourth quarter (+7.6%), supported mainly by the recovery of transactions financed by mortgage (+19.5% in the fourth quarter).
Nomisma also reports a significant reduction in the discounts applied during negotiation, together with selling times among the shortest of the last decade, indicators of high liquidity in the market. However, the problem of supply remains: it is quantitatively insufficient and qualitatively not entirely in line with the diverse needs of demand.
Focus on Milan
Milan confirms its leading role within the national property landscape, maintaining a position of absolute pre-eminence in both the residential and the corporate markets. In 2024, the volume of corporate investment in the city reached 3.7 billion euro, placing Milan among the most attractive cities in Europe for institutional investors.
Prices of residential property in Milan continue to grow, although at a more moderate pace than in previous years. The average increase recorded is 3.2% a year, confirming a phase of market consolidation, with average prices per square metre expected to rise further during 2025, from the current 5,393 euro to about 5,710 euro.
However, Milan shows a peculiar dynamic compared with the rest of the national market: asking prices are often excessively high compared with the real market value. This lengthens selling times, as properties remain unsold until owners adopt strategies of reducing the initial prices, granting significant discounts in order to complete the sales. By contrast, properties offered from the outset at fair prices aligned with real market values show decidedly faster selling times, confirming the need for a correct initial valuation to optimise the selling process.
Rentals continue to be a hot spot: supply cannot meet demand, leading to significant increases in average rents, which rose by 4.6% over the last year. This trend adds to the difficulty of access to the market for the middle-income and younger sections of the population.
Milan – CityLife
The CityLife district is one of the symbols of the new Milan, with robust property growth, high values and top-quality construction. According to the latest data, the average price of properties in the CityLife area stands at about 6,729 euro/m², with annual growth of 1.13%, slightly more moderate than the city average, but justified by the high starting point and the consolidation of the district.
CityLife continues to attract investors thanks to the quality of its properties (buildings designed according to the most modern criteria of energy efficiency and environmental sustainability, certified to high standards such as LEED and BREEAM), the presence of modern infrastructure and the availability of green spaces and exclusive services.
Recent and future investments in the area are focused on the further development of sustainable mobility, home automation, and technological innovation applied to buildings, helping to keep property values high even in an uncertain national market context.
In short, the Nomisma report
confirms an Italian market situation of slow but steady recovery, with Milan continuing to lead this trend thanks to its international appeal and the growing quality of its property offer. The CityLife district is one of Milan's excellences and will continue to be an important point of reference for investment and for the quality of urban life. For investors and buyers, it is essential to keep monitoring developments in this highly dynamic market.
Alessandro Langella
Founder of Pavé, Milan
He knows Milan through years of hands-on market experience, properties visited and neighbourhoods watched as they changed.
