Milan’s Real Estate attracts more international investors

Milan has long been an international hotspot, attracting fashionistas and financiers alike. Now the city is starting to draw interest from international investors as well. Italy’s real estate market has been floundering since the 2008 financial crisis, but Milan is finally starting to rebound, according to Amy Redfern-Woods, a senior negotiator with Knight Frank who specializes in the Italian market. "Italy has struggled, but it does feel like Milan is starting to get back on track," she said. "It’s been a bit slower in terms of finding recovery and finding its feet again than some of the other European cities like Berlin or Frankfurt. But certainly, for Milan, it feels like now is a sort of turning point in the market." Milan is the business and economic hub of Italy, Ms. Redfern-Woods said, as well as a center for fashion and design, so it makes sense that the stronghold of the country should come back first. Some businesses are looking to Milan as a new homebase as Brexit looms, she said, and the country’s favorable taxation policies have also helped bring buyers back.