Milan and its Province Concentrate 43.5% of the Lombardy Property Market
Official data, Italian Revenue Agency
In the Lombardy property landscape, the Province of Milan continues to act as the economic and residential centre of gravity of the region. The analysis of the official data on home sales (expressed in NTN - Normalised Number of Transactions) shows how the Milan metropolitan city steadily absorbs more than 4 purchases out of 10 in the whole of Lombardy.
In 2025, the Province of Milan recorded as many as 70,595.78 residential sales, equal to 43.53% of the 162,189.39 transactions concluded across Lombardy. After a slight decline in 2024, the Milan metropolitan market recorded an increase of +6.75% in a single year and +5.56% compared with 2023.
Milan's Weight over 2023–2025
The historical data show remarkable consistency in the relative weight of the province of Milan on the regional total:
| Year 2023 | 66,876.55 NTN out of 150,722.67 regional (44.37% of the Lombardy total). |
| Year 2024 | 66,130.87 NTN out of 151,558.71 regional (43.63% of the Lombardy total). |
| Year 2025 | 70,595.78 NTN out of 162,189.39 regional (43.53% of the Lombardy total). |
Source: official data, Italian Revenue Agency
Although the regional percentage share has remained almost constant at around 43.5%–44%, the absolute volumes indicate a significant recovery in building activity and sales over the last year surveyed.
City vs Hinterland: Where Are Sales Concentrated?
Within the Province of Milan, the distribution of volumes between the city and the municipalities of the hinterland shows a clear prevalence of the outer metropolitan area.
1. Milan City (35.66% of provincial volumes)
In the municipality of Milan, sales in 2025 amounted to 25,172.96 NTN, equal to 35.66% of the provincial total and 15.52% of the entire Lombardy market. The city of Milan recorded a recovery of +4.87% on 2024 (24,002.90 NTN) and +1.31% on 2023 (24,847.91 NTN).
2. Milan Hinterland (64.34% of provincial volumes)
The municipalities of the province outside the city account for 45,422.82 sales (year 2025), equal to 64.34% of the provincial total and 28.01% of the regional total. The hinterland showed even greater dynamism than the city, with growth of +8.08% over 2023–2025.
Comparative Table: The Evolution of Volumes (2023–2025)
The official data below show the annual progression of sales and the relative trend:
| Area | NTN 2023 | NTN 2024 | NTN 2025 | Change (2023–2025) | Share of Lombardy (2025) |
|---|---|---|---|---|---|
| Milan city | 24,847.91 | 24,002.90 | 25,172.96 | +1.31% | 15.52% |
| Milan hinterland | 42,028.64 | 42,127.97 | 45,422.82 | +8.08% | 28.01% |
| Total Province of Milan | 66,876.55 | 66,130.87 | 70,595.78 | +5.56% | 43.53% |
| Total Lombardy region | 150,722.67 | 151,558.71 | 162,189.39 | +7.61% | 100.00% |
Source: official data, Italian Revenue Agency
Analysis by Floor Area: What Is Bought in the Province of Milan?
The distribution by floor area band reflects the different housing needs across the province. The 2025 provincial aggregate shows the following breakdown:
| From 50 to 85 sqm (Large one-bedroom and compact two-bedroom flats) It is the numerically most significant size band, accounting for more than 4 purchases out of 10. | 28,416.01 NTN (40.25%) |
| From 85 to 115 sqm (Large two-bedroom and three-bedroom flats) The second most traded type, more widespread in the municipalities of the hinterland. | 18,691.31 NTN (26.48%) |
| Up to 50 sqm (Studios and small one-bedroom flats) Largely concentrated within the city of Milan. | 9,607.66 NTN (13.61%) |
| From 115 to 145 sqm Medium-large homes, found both in residential districts of the city and in the first ring of towns. | 7,559.21 NTN (10.71%) |
| Over 145 sqm Large homes and detached properties. | 6,321.59 NTN (8.95%) |
Source: official data, Italian Revenue Agency
Descriptive Observations for Readers
The structure of the data provides descriptive elements useful for understanding the configuration of the local market:
- For those considering buying or renting: The province of Milan offers an extremely wide range of options. In the city smaller floor areas prevail (under 50 sqm), while moving towards the municipalities of the hinterland the supply shifts clearly to floor areas between 85 and 115 sqm.
- For those putting a property on the market: The increase in transactions recorded in 2025 shows a high turnover of properties both in the city and in the municipalities of the province, with active demand across all size bands.
- For those analysing the territory: The market share of 43.5% confirms that the province of Milan remains the nerve centre of property activity in Lombardy, while showing a percentage growth rate in the hinterland (+8.08%) higher than that of the city (+1.31%).
Frequently Asked Questions (FAQ)
What is the weight of the Province of Milan on the Lombardy property market?
In 2025 the Province of Milan concentrated 70,595.78 sales out of a regional total of 162,189.39, equal to 43.53% of the entire Lombardy market.
Are more homes sold in the city of Milan or in the hinterland?
The Milan hinterland accounts for the majority of sales: in 2025 64.34% of provincial transactions (45,422.82 NTN) took place in the municipalities of the province, against 35.66% (25,172.96 NTN) recorded in the municipality of Milan.
What is the most purchased floor area in the province of Milan?
The most traded floor area band is between 50 and 85 sqm, which in 2025 accounted for 40.25% of total provincial transactions (28,416.01 NTN).