The Reasons why Milan is the ideal place to begin investing in Italy
Milan, capital of the Lombardy Region, during the last few years, has attracted the attention of a significant number of real estate international investors, particularly from Saudi Arabia and Japan. According to PwC the city is one of the best places for investment.
Milan is a dynamic and productive city with an excellent business environment. Indeed, it takes only one week to start a new business, even less than in UK or Germany, which is a particularly relevant data considering Italian market.
The metropolis is the center of the Italian fashion industry and it’s one of the five shopping capitals worldwide and the third largest exhibition fair (after Hanover and Frankfurt) in Europe.
Moreover, the city hosts the most advanced science centers in Europe: 26% of the Italian companies in the biotechnology industry are founded in Milan, reaching profits of 4 million euros, which represent 45% of the national total profits.
Milan is really cosmopolitan with more than 100 consulates and commercial offices abroad. Politecnico and Bocconi University account for 20% of the foreign students in Italy.
In addition, the infrastructures connecting Milan to the rest of the world are excellent, with three international airports, the train station (including high-speed) and highways.
According to Assolombarda: ‘Milan is the European city with the highest density of multinational companies: home to 3,000 multinational companies with over 289,000 employees and € 169 billion of turnover’.
The city rose from 12th place to 8th place in the 2016 European ranking of the best cities in which to invest in real-estate, based on PwC report.
Therefore, Milan is a top investment choice for many players in the sector.