Second Homes
Is Milan a Good Second Home for Indian Families?
Second homes fail on running cost and usage, not on purchase price. Here is how Milan performs on both.
99Habitat Research · 28 Aug 2026 · 5 min read
In short
Milan suits second home, european base, rental income. Entry begins at EUR 700,000 for central apartments, and no restrictions on foreign ownership
The case for it
Milan combines design-led prime stock, corporate leasing demand and favourable flat-tax treatment for qualifying new residents — a rare pairing in southern Europe.
Italy's only genuinely institutional residential market.
Usage honesty
Most second homes are used four to six weeks a year. At that level, the asset has to justify itself on appreciation or rental income, because the emotional case will not cover eleven months of standing costs.
If letting is part of the plan, expect 3.5–4.5% gross gross — and appoint a manager before completion, not after.
Ownership and paperwork
No restrictions on foreign ownership
Residency position: elective residence and flat-tax regimes exist independently of purchase
Process: Preliminary contract with deposit, then notarial deed — eight to twelve weeks.
Our verdict
Buy in Milan if your objective is one of second home, european base, rental income — and if the family will genuinely use it or let it. Cadastral and condominium compliance issues are common in older buildings. Verify before deposit.
References
This article is general information, not investment, tax or legal advice. Rules change — confirm current requirements with qualified counsel before you transact.
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