Milan Real Estate Grabs A Slice Of Olympic Piste Action

The Olympic Games is well and truly under way in Italy, with events taking place in Milan and other keynote cities across northern Italy, and la dolce vita on full display for the thousands of visitors flying in from across the world.

Northern Italy has witnessed a 300% spike in air travel from across the UK and Europe for the Games compared to the same time last year, while travellers from the States are up 141% percent year over year, according to data from the International Air Transport Association.

So, as athletes, celebrities and fans fly into Milan, what kind of housing market will they find? And what kind of swoon-worthy properties will they see? Attention garnered by the Olympics has been known to give host cities a boost in rentals and for-sale properties leading up to the event, as cities invest in new infrastructure and work to meet demand from tourists and a larger workforce, according to research by the Austrian Institute of Economic Research.

“Market shifts are usually driven by factors such as tax policies and lifestyle appeal,” Italy Sotheby’s International Realty residential head Diletta Giorgolo comments, “We’ve certainly seen a boost in tourism for both Cortina and Milan.

“Cortina, being a niche market, will attract significant international interest, but we don’t anticipate big price increases. We have a strong market already, which gives confidence to potential investors considering the area as a potential second-home location for the first time."

As for Milan - city centre property, not surprisingly, tends to sell for the highest price per square foot. Prime residential properties in the capital saw a 7% increase between Q2 2024 to Q2 2025 with the city’s prime market expected to see a 2% increase over the course of 2026.