Market Focus: Milan, Italy
Located in the north of Italy, Milan is the capital of the Lombardy region and the second largest city in the country, with a population of approximately 1.35 million inhabitants, rising to 5.2 million when considering the wider area.
Milan is the leading industrial and commercial city of Italy. It is also the financial hub and home to the Italian Stock Exchange and the country’s largest banks. Famous for fashion, Milan is considered as one of the design capitals of the world and hosts the annual “Milan Fashion Week” event and is due to host the 2015 “Universal Exposition”. Milan is undergoing a series of large redevelopments as the city tries to reinvent itself following the decline in the manufacturing sector. The exhibition centres were relocated to Rho, a large satellite town, and phased construction is underway for a new financial district in Porta Nuova.
REAL ESTATE OVERVIEW
In February, the Italian ge