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Bnp Paribas Real Estate: Milan’s office market is growing

25 March, Corriere della Sera

The vacancy rate for offices in Milan reduced to 10.6% in 2018, thanks to the increasing demand from companies as well as the rise of pre-lets. The total office space currently available is 1.2 million Sq m, but only 24% is classified as class A, and only 2% of this is in the city centre. Last year, the market achieved its absorption record with 390 thousand Sq m occupied. Office transactions in Milan amounted to 2.1 billion euro in 2018, representing two-thirds of the total real estate investments.

Source: Corriere della Sera

Translator: Cristina Ambrosi

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