Milan and Rome rank first among Italy’s high streets, with annual rents above the 6000 €/m2. This is what appears from a market survey by World Capital Group, Milan-based real estate consultancy firm, on figures from February 2014.
“The heart of Milan’s fashion district, Via Montenapoleone, with rates between 4.000 and 6.700 €/m2, and Via Condotti, the number one high street in the Italian capital, with rates between 3.700 and 6.380 €/m2, are once again Italy’s most expensive luxury high streets – World Capital Head of Research Department Neda Aghabegloo explains. However, they are not the only two high streets from these cities to feature in the top ten. To be found at the top are also Via del Corso (2.500 – 6.000 €/m2) and Spain Square (3.000 – 5.000 €/m2) in Rome and Via della Spiga (3.500 – 5.000 €/m2) and Corso Vittorio Emanuele (3.000 – 4.500 €/m2) in Milan.
Neda Aghabegloo continues by saying that what determines these high streets’ appeal is a combination of factors such as the high density of luxury brands and the constant flow of affluent tourists and visitors to these cities. Milan is Italy’s business capital, while Rome keeps attracting visitors thanks to its irresistible Dolce Vita-like charme.
Other Italian cities remain however interesting in terms of annual rental fees. – Neda Aghabegloo continues – From Florence to Venice, from Genoa to Catania and Verona; the appeal of the ‘Made in Italy’ and art treasures goes hand in hand with other aspects of these locations such as those related to business, trade and events. Because of all this, the number of visitors remains high, and so do rental fees and yields”.
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