The Olympics are already driving up rents in Milan In fact, we expected it

Milan is getting more and more expensive

We are three months away from the start of the Cortina Winter Olympics. A sporting event that is already announced to be full of controversies (from the famous bob track to their excessive "spread" to the issue of the Olympic Village in Milan, with the various construction delays), the latest of which is the explosion of rents that is already happening in the city. According to a recent report shared by Abitare Co., in fact, the prices of short-term rentals in the areas most subject to tourist and visitor flows have already started to inflate. And bookings are pouring in: booking platforms are already reporting 70-80% occupancy for the key dates.

The study shows that the price of short-term rentals has not only increased by 102% in the classic central areas (Historic Center, Brera, Porta Nuova, Citylife, Porta Romana) but also in the neighborhoods closest to the venues that will host the competitions such as Santa Giulia, Assago, San Siro, and Rho. In general, according to estimates from Visa Consulting & Analytics cited in the study, an increase of 160% in international bookings is expected for next February 2026. In short, this winter we will see Milan more crowded than usual.

In which areas will short-term rentals cost the most?

According to the report, the areas closest to the sports facilities are becoming more expensive by the minute: an average jump of 144% is expected, bringing the weekly price for a short-term rental to 1,925 euros. The most overpriced neighborhood will certainly be Assago, which, after the inauguration of the Milano Ice Skating Arena, will see short-term rental prices rise by 153% compared to an ordinary week, reaching up to 1,900 euros for a standard apartment. In general, the Assago area will also be the one most involved in Olympic traffic.

Another area that will see a strong increase in traffic is Santa Giulia. Here too there is a new facility, the Milano Santa Giulia Ice Hockey Arena, where, as the name suggests, hockey competitions will take place. Here we arrive at an average increase expected of 147% with an apartment for four reaching up to 2,100 euros per week. No less San Siro, where the Olympic opening ceremony will instead take place, and where prices will rise by 144% reaching an average of 2,200 euros per accommodation. Finally, Rho, where the Milano Ice Park is located, will see prices rise by 130%.

And short-term rentals in the city center?

Obviously, when talking about real estate in central Milan, it always rains on those who are already wet. The areas of the Center with Brera, Porta Nuova, Citylife, and Porta Romana will increase less than the peripheral ones but keep in mind that they already cost obscenely a lot. 

The report marks for the entire center an average increase of 70%, for an approximate cost of 2,270 euros for an apartment intended for 4 people, which is still lower than the prices for the Design Week when the same accommodations can exceed 6,000 euros. Porta Nuova is the neighborhood where prices will grow the most, by about 83%. CityLife is instead second in the increase, which will rise by 73% while Brera will see an increase of 67%. More stable instead the Historic Center and Porta Romana where the expected increases are respectively 65% and 63%.

Takeaways

• Three months from the start of the Cortina-Milan 2026 Winter Olympics, short-term rental prices in central areas and near facilities are already rising by 102% on average, with 70-80% bookings on platforms.
• In neighborhoods like Assago, Santa Giulia, San Siro, and Rho – where arenas for skating and hockey will rise – weekly rents will triple with an average +144%, reaching 1,925 euros, and Assago will hit 1,900 euros thanks to the Ice Skating Arena.
• Tourist areas like Historic Center, Brera, Porta Nuova, CityLife, and Porta Romana will see increases of 70% on average (2,270 euros per week), with Porta Nuova at +83%, but remain below Design Week peaks exceeding 6,000 euros.
• According to Visa Consulting & Analytics, February 2026 will bring a +160% increase in foreign arrivals in Northern Italy, making Milan more crowded and encouraging owners to ride the Olympic wave.