MILAN AREA KEY FACTS | Snapshot 2020

THE PRODUCTIVE FABRIC

THE MILAN AREA: A GROWING ECONOMIC SYSTEM

The Metropolitan City of Milan has over 306,000 active enterprises, the majority of which operate in the tertiary sector, particularly in services, where there are over 156,000 units (51.1% of the total) and 1,3 million of employees (58.5%). The manufacturing sector covers 17.6% of employees, with 10% of the enterprises.

The highest annual growth rate of enterprises is registered in Milan (+2.3%) and in the MI Corsichese (+1.4%), whereas the Metropolitan City rate is 0.6%.

THE HIGHEST RATE OF ENTERPRISES IN THE NORTHERN AREAS

The highest rate of enterprises stands in the Northern areas of the Metropolitan City, i.e. Nord, Nord-Ovest and Alto Milanese areas, which together account for slightly less than 20% of production activities. Over 8.1% of enterprises are concentrated in the South (Sud, Sud-Est and Abbiatense areas). In Milan stands the 59.7% of the total number of enterprises.

THE DEMOGRAPHIC BALANCE OF ENTERPRISES IS POSITIVE OVER THE LAST 3 YEARS

The performance of enterprises in the Metropolitan City remained positive over the last 3 years. Registration flows of new businesses (about 24,000 units per year) far exceeded the terminations, leading to constantly positive balances of over 5,400 registrations per year.

THE REAL ESTATE MARKET

SALES AND PURCHASES OF OFFICES INCREASING IN THE METROPOLITAN AREA

The number of office sales stood at 1,574 transactions, 1,225 of which in Milan (+7% y-o-y) and 348 in the rest of the Metropolitan City. Milan has shown an increase in transactions for the sixth consecutive year, whereas the rest of the Metropolitan City has recorded its fourth positive yearly change. Among the 11 sub-areas, MI Corsichese, MI Nord and MI Nord-Ovest areas hold more than half of the metropolitan market (58%), excluding Milan. The average stock turnover is 2.0% for the metropolitan areas excluded Milan and 3.1% for Milan.

SALES OF FACTORIES AND WAREHOUSES INCREASING 

The number of factories and warehouses sales stood at 747 transactions at the end of 2019, 147 of which in Milan and 600 in the rest of the Metropolitan City. The most significant markets are those of the MI Alto Milanese area (81 sales), MI Nord Ovest area (111 sales) and MI Nord (65).

The stock turnover rate (IMI indicator) amounts to 3% in the Milan market and to 2.5% average in the rest of the Metropolitan City.

OFFICES PRICES 

In 2019 the average maximum price of offices located in the Metropolitan Area of Milan (approximately 4,609 Euro/sqm) has grown by 0.4% y-o-y. In the rest of the Metropolitan area (excluding Milan) the average maximum price of offices stood at 1,454 Euro/sqm, nearly stationary on a yearly basis (0.2%).

As far as the medium prices of offices are concerned, they recorded in Milan (2,957 euro/sqm) an average annual change of +0.8%. In the rest of the Metropolitan City the average price (1,308 Euro/sqm) has been stationary.

PRICES OF WAREHOUSES AND FACTORIES

In 2019 the average medium price of warehouses and factories located in the Metropolitan City (excluding Milan) stood at 669 Euro/sqm (-0.9% yearly change). In Milan, the average medium price is approximately 816 Euro/sqm (+1.1% yearly change). Prices have decreased in all sub-areas, yet slightly.

Average maximum prices of warehouses and factories have recorded of +0.4% in Milan (891 Euro/sqm) and of -0.4% in the rest of the Metropolitan City (755 Euro/sqm).

INFRASTRUCTURE ACCESSIBILITY

"OUT OF SCALE" MILAN AND GOOD ACCESSIBILITY CONDITIONS FOR NORD, NORD-OVEST AND EST ASSE FERROVIA AREAS

Milan has an excellent overall accessibility with very high and “off the scale” figures compared to the rest of the territory, for all modes (road, rail and airports).

With reference to the territorial areas of the Metropolitan City, some more than others are characterised by a better overall accessibility. The Nord area, with the highest accessibility values ​​after Milan, has a more consistent and articulated infrastructure and a wider range of rail transport services allowing faster and direct links with the airport system too.

The Nord Ovest area and the Est Asse Ferrovia area follow with medium-high values: the first especially for the part of territory included in the first crown surrounding Milan, with the main radial lines on the Milan ring road system and railway link; the second with reference to the East-Milan road/railway corridor that ensures a good level for the overall mobility offer.

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