The positive trend in Milan’s office market continued in the first half of 2019, with estimated take-up of approximately 240,000 sqm, up compared to the same period of 2018.
In terms of area let, the most active markets during the first half of 2019 were the Hinterland, with 33% of the total area, and the Periphery, with 31%. The high percentage of area taken up in these two zones is due to 7 major transactions. There was a slight increase in prime rents in the CBD, currently at approximately 575 €/sqm/year.
Moving on to the Capital, the take-up of office space amounted to approximately 169,000 sqm. Rents showed a slight increase, with prime rent in the more central zones of the city amounting to 430 €/sqm/year. The Centre is the preferred macro-zone, accounting for 49% of total take-up, following a major transaction in the public sector.