Investment opportunities in Milan
This week, we were due to meet up with friends and clients at MAPIC Italy and although we all have to wait a little bit longer for this event, opportunities for investment in Milan remain strong. We interviewed our Office Head in Milan, Giacomo Spinelli, to find out more…
Over the last few years, Milan has become increasingly attractive to private and foreign investors. As well as being recognised internationally as one of the world’s leading fashion capitals, the city is also considered by many as the economic hub of Italy.
The 2015 Expo brought significant investment in public infrastructure and Milan’s transport system was vastly improved by its shared mobility scheme. We’ve witnessed a big move away from traditional transport methods with car, scooter and bike sharing reducing the necessity for private cars.
As Milan adopts a more international culture, it has become more diverse and this makes it increasingly attractive from a business point of view. Co-working has boomed in the last few years and I found this quite surprising as companies here traditionally like to have their own office. For me, this was a sign that the city’s business culture was really changing.
For the first time since the 2008 financial crisis, big investors have started to look again at the residential market and towards the end of last year, we saw lots of interest in investments in short-term lets and social housing.
Looking ahead, the 2026 Winter Olympics should draw in further investment and construction is already underway on Milan’s M4 metro line that will connect the city centre with Linate airport in just 15 minutes.
Although it’s impossible to predict what will happen in the coming months, my personal view is that Covid-19 will accelerate changes in the market that were already happening or were due to happen. Digital innovation was already transforming retail and will likely become even more integrated in stores. Demand for logistics and data centres will be at an all-time high and the creation of common spaces and shared services will probably become a priority in new residential developments.
Investment in Milan has not been cancelled and now, more than ever, we need to be ready to adapt to changes in the market. At present, I think that the most challenging thing for professionals and people in general is looking beyond the immediate effects of the current crisis. Now more than ever, we need to be flexible and open to new opportunities.