In recent years, Milan has experienced a significant rise in housing prices, pushing many families to look for alternatives in the Milanese hinterland. Research by Abitare Co., a real estate brokerage firm, highlights how this trend is growing, with city residents moving to nearby towns offering better value for money.
Prices and space: comparing Milan and the hinterland
The price gap between the city and the surrounding municipalities is striking. From 2019 to 2023, the average price of new homes in Milan increased by 49% to €7,690 per square meter, compared to €3,150 in the hinterland (+27%). This difference allows families to purchase significantly larger homes. With a budget of €300,000, one can buy a 40 sqm apartment in Milan, while in the hinterland, the average surface increases to 97 sqm, with peaks of 133 sqm in Abbiategrasso and 130 sqm in Vimodrone.
Property sales growth and trends in nearby towns
Interest in the hinterland is reflected not only in prices but also in the number of transactions. Between 2019 and 2023, Milan recorded a 5.3% decrease, while the 37 first-ring municipalities saw an 11.6% increase. Towns such as Opera (+70.8%), Cusano Milanino (+63.3%), and Vimodrone (+61.7%) led this growth, demonstrating the appeal of areas connected to the city via metro and rail.
A nationwide trend
This phenomenon isn’t limited to Milan. Other major Italian cities show similar trends: in Naples, home sales in the hinterland rose by 78.3%, compared to a +7.1% increase in the city. Rome, Turin, and Bologna follow similar patterns, with respective increases of 45.2%, 35.1%, and 51.2% in first-ring municipalities.
Reasons behind the hinterland’s success
According to Giuseppe Crupi, CEO of Abitare Co., the shift to the hinterland is driven by several factors:
- More affordable prices, allowing families to purchase larger, newer, and energy-efficient homes.
- Efficient connectivity: towns with metro and railway access are highly attractive.
- Limited availability in Milan: a shortage of new, affordable homes in the city, caused by a construction slowdown, pushes families to seek alternatives outside.
Conclusion
The Milanese hinterland offers an excellent alternative for those seeking modern, spacious, and affordable homes. This trend, already evident in the data, is set to reshape the real estate landscape in the coming years.
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