Milan’s Push to Lure World’s Wealthy Stokes Boom and Backlash
10/05/2023 11:45
Milan has become a mecca for the wealthy, but the downsides of that shift are starting to show.
Milan has become a mecca for the wealthy, but the downsides of that shift are starting to show.
While rich new residents bring tax revenue and create jobs in the city, they’re also contributing to higher costs of living, widening the city’s gap to the rest of Italy. Housing prices are now well more than double elsewhere in the country, while renting a room in Milan is a third more expensive than in Rome.
Up Next
Milan’s Push to Lure World’s Wealthy Stokes Boom and Backlash