A guide to serviced offices and office space for rent in Milan, as well as general information that may be useful if you are thinking of renting office space in Milan.
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History & Geography
Few European cities can rival the aura that Milan, the world’s capital of style, can command. Italy’s second-largest city and the capital of the province of Lombardy is located in the north of the country in the north-west of the Po Valley, between the Ticino and Adda rivers near the Italian Alps. The city was founded around 400 BCE by the Celtic tribe of the Insubres. Milan, then called Mediolanum, was subsequently conquered by Rome in 222 CE and grew quickly in power and importance. So swift was Milan’s rise to prominence that, in 293 CE, Emperor Diocletian declared it the capital of the Western Roman Empire. Later, Emperor Maximian built a string of gigantic monuments in the city, including a large and intricate palace, a circus, and several other buildings, the ruins of which can still be seen in Milan today.
With the collapse of the Western Roman Empire, Milan was left vulnerable and in 452 CE was overrun by the Huns, and later in 593 CE it was the turn of the Ostrogoths to invade and then sack the city. In 774 CE, the legendary Frankish King Charlemagne took the city and named himself King of the Lombards.
In the Middle Ages, despite a turbulent political life, Milan prospered and became a centre of trade and commerce. In the 16th century, the city fell under the sway of the House of Habsburg, and in the same century, it was ravaged terribly by the Bubonic Plague.
In the 19th century, Milan came under the sway of the French under Napoleon and after his demise, the Austrians, against whom the Milanese people rebelled in 1856. Eventually, the city was incorporated into the Kingdom of Italy and continued to grow in importance, especially in the financial sphere.
The late 19th and early 20th centuries saw the city’s population swell and its borders expand. Milan was badly bombed by the Allies during World War II; however, it benefited from Italy’s Economic Miracle in the 1950s and 60s.
Today, the city is known for its influence in fashion, design, sport, industry, commerce, art, and media, as well as being a popular tourist destination.
Economy
Milan is one of the most important business and financial centres in the world and traditionally has a very strong economy. Were Milan a country it would rank as the 28th largest economy in the world and the metropolitan area has the 4th highest GDP in Europe. As well as being the home of the Italian Stock Exchange, Milan has a cornucopia of thriving industries, including textiles, automotive manufacturing, chemicals, heavy machinery, and publishing. Of course, Milan is also one of the world’s most important cities for industrial and modern design, hosting a variety of design events and fairs every year. Additionally, the city is well known as one of the world’s foremost fashion capitals. Most major Italian fashion brands are headquartered in the city, including Valentino, Gucci, Versace, Prada, Armani, and Dolce & Gabbana.
The 2026 Winter Olympics, commonly known as Milano Cortina 2026, were held from 6 to 22 February 2026 at multiple sites across Lombardy and Northeast Italy.
The joint bid by Milan and Cortina d’Ampezzo was awarded in 2019.
Tourism
Every year, Milan plays host to almost two million tourists and is currently one of Europe’s most important tourist destinations. Milan has a selection of buildings and sites that are very important for the tourist industry, including the Duomo and Piazza del Duomo, the Convent of Santa Maria delle Grazie. Maria delle Grazi, which contains Leonardo da Vinci’s The Last Supper, the Teatro alla Scala, the Brera Academy and the Via Monte Napoleone. Sports aficionados will not want to miss the San Siro Stadium, home to both the city’s famous football clubs, AC Milan and Inter Milan.
Like most other Italian cities, Milan has its own distinctive cuisine, of which the most famous dish is cotoletta alla Milanese, a breaded veal cutlet pan-fried in butter, similar to a Wiener schnitzel. Milan has many restaurants and cafes, the most popular and traditional of which can be found in the Brera and Navigli districts.
The best-known café is Caffe Cova, which was founded in 1817 near the Teatro alla Scala. Many visitors come to Milan for the shopping, and the city’s main shopping areas are Monte Napoleone, Via della Spiga, Via Manzoni, Corso Buenos Aires, Via Dante and the Piazza del Duomo.
Transport
Milan also serves as a transport hub for the region. The city has five main railway stations, of which Milan Central Station is the busiest. High-speed trains link Milan with Bologna, Florence, Rome, Naples and Salerno. The city’s public transport system is managed by the Azienda Trasporti Milanesi, which operates an underground rapid transit system, buses, trolleys and trams. Milan also operates bike-sharing and car-sharing systems. The city has three international airports, the Malpensa International Airport, which is the largest of the three, the Linate Airport and Orio al Serio.
Office Space to rent in Milan
Milan’s office market suffered in the aftermath of the financial crisis of the late 2000s however it had revived by 2013/2014.
In 2013, take-up increased by a full 57 per cent compared with the same period the previous year. At that time, the average rent was EUR 520 per square metre per year, and the vacancy rate stood at 9.3 per cent.
However, there was substantial variation in the vacancy rate across submarkets. In the centre, it was approximately 5 per cent or lower, whereas in the periphery, it was 12 per cent.
In 2013, Milan’s CBD suffered from a lack of available space, so many believe other districts, such as the Republica Garibaldi Zone and the Milanofiori areas, will become more prominent. However, currently, demand is still strongest in the CBD.
There was increased leasing activity in Milan during the first nine months of 2025 compared to the same period the year before; however, it slowed in the third quarter of 2025. Total take-up reached 277,000 square metres, representing a 4 per cent increase compared with the same period in 2024.
Following the events of the early 2020s, occupiers in Milan are increasingly seeking best-in-class office space that is ESG-compliant with a high level of amenities.
Prime office rents, however, remained stable towards the end of 2025 at EUR 750 per square metre per year despite the competition for high-quality space.
Like most major European cities, Milan’s flexible office space and workpsace market has evolved signifinactly over the last decade.
There is a wide range of office providers and flexible workspace operators offering fully serviced office and coworking spaces across various building types in various locations.
There is also a growing category of business space that sits between leased offices and flex space, including furnished offices, semi-serviced offices, managed offices, and fitted office space that blends the benefits of leased space and flexible space.
We conduct a free office space search, and our advisory and acquisition services are also free, always. Our Milan office space brokers and agents are globally regulated by the Royal Institution of Chartered Surveyors (RICS), ensuring the highest standards of commercial property advice and service at all times. We look forward to helping you find the best office space for rent for your business.
The Office Providers are Regulated by the Royal Institution of Chartered Surveyors (RICS)