In contrast to much of Italy, the city of Milan has experienced an 8 year long growth, reflected in a strong property market. This growth has been challenged recently by rising finance and construction costs. Just at the time when the property markets should be looking for a recovery, the City of Milan is introducing changes to the planning regime which will make many marginal projects unviable.

Without a strong repricing of land values, the market risks coming to a halt.

Italy has identified its built environment as a key focus for efforts to achieve the European Target of Net zero by 2050 (National Recovery and Resilience Plan, May 2021). KPMG ranks Italy as 10th globally on its Net Zero Readiness Index, ahead of countries such as Spain and the United States. However, progress towards this goal is mixed, with grounds for both optimism and concern.

This article sets the current scene for Italy’s efforts to transition to Green Buildings

Commercial leases in Italy are regulated by the Civil Code, by Law 392/78, Part II and subsequent revisions and court judgements. There have been commercial and legal changes since 1978 which have introduced greater flexibility, largely to the benefit of landlords.

Read our guide to the principal commercial lease terms and recent innovations

Property professionals may be familiar with the International Property Measurement Standards or particularly for UK practitioners, the RICS Code of Measuring Practice 6th Edition. But many looking at Italy for the first time will be confused by reported measurements.

This is a short guide to measurement of buildings in Italy

Property yields in Italy can be confusing. How do you go from a gross yield to a net yield? What property purchase costs are allowed for and what isn't included? What non-recoverable property expenses are included in the calculation of a net yield in Italy. Our simple guide explains it all