Design Week has tripled rents in Milan Prices are skyrocketing in all the city's busiest neighbourhoods

If housing is already a sore point for the city of Milan under normal circumstances, the relevance of the rent crisis becomes even more pronounced during peak weeks in the Lombard capital, such as Fashion Week and Design Week. This year, more than others, the situation seems to have taken an almost dystopian turn, with accommodation prices reaching historic highs. According to a recent analysis by Milano Today in collaboration with Centro Studi Abitare Co., during Design Week, renting a short-term apartment means spending double or even triple compared to any other time of year. The design hub, Brera, averages €6,150 per week, with peaks nearing €6,900 on prestigious streets like Via della Moscova. In the Fashion District, an undisputed symbol of luxury and prestige, weekly rents exceed €8,000. Other strategic neighborhoods like Garibaldi/Porta Volta and Porta Romana also feel the "Design Week effect," with weekly rents ranging between €4,000 and €4,700. More moderate—though still high—prices are found in areas like Tortona (about €3,400) and Isola (around €3,220).

It's not just a matter of short-term rentals—hotel stays are also heavily inflated. A recent report by Maiora Solutions examined availability and accommodation prices in Milan from April 8 to 13 (Design Week dates), comparing them with the following week. If, two weeks before the event, one tries to book a double hotel room, they should be ready to pay significantly more: the average price is three times higher than during the days following Design Week. The analysis considered 3-, 4-, and 5-star hotels, highlighting one key detail: around two thousand properties are still available—but at decidedly high prices. Looking at specifics, a stay in a 3-star hotel costs an average of €470 per night during Design Week, rising quickly to €560 for 4 stars and reaching an impressive €1,210 per night in a 5-star hotel. The trend remains unchanged when looking at Airbnb rentals. During Design Week, the average short-term rental price is about €375 per night—almost three times the €130 average of the surrounding weeks.

Over the years, it's also become common practice for Milanese residents to engage in “housing scalping”, taking advantage of these weeks of festivities to sublet their homes (or rooms) at prices far above standard rates. Many, in fact, choose to relocate to the suburbs between the province of Milan and Monza-Brianza temporarily. The report highlights that even in areas far from the city center, there’s been a strong rise in prices—Rho, in particular, recorded significant increases, reaching €2,450 per week. The situation isn’t much different in Sesto San Giovanni and San Donato Milanese, where renting an apartment can cost around €2,000 per week. Corsico, Segrate, and Monza have also seen substantial hikes, with weekly prices ranging from €1,300 to €1,500.

Saying that Design Week is crucial to Milan's economy is almost an understatement, especially when considering the numbers from last year. As reported by the ADC Group, the 2024 edition of Milan Design Week broke records: over 360,000 visitors at the Salone del Mobile (+17% compared to the previous year) and 1,125 events spread across the city for the Fuorisalone, generating an economic impact of nearly €275 million (+20% from 2023). Despite the undeniable positive impact on the local economy, concerns remain over the side effects of this tourism model. The constant rise in accommodation prices during these periods is not just problematic—it’s unhealthy and unethical, pushing the city further into gentrification and making the cost of living increasingly unsustainable for residents, a well-known issue in the city. Whether these millions in revenue will truly outweigh all the problems tied to this Design Week remains to be seen.