It’s almost time for the start of the Milan Design Weekthe international event which will take place from 15 to 21 April 2024 and which with its exhibitions, exhibitions, events and presentations transforms the entire Milanese city into the capital of design every year, culminating in Furniture expo. In the last edition the event recorded over 400 thousand visitors; a fact that triggers the “Design Week effect”, with rental prices and accommodation rates skyrocketing. Let’s see through the analysis of Abitare Co. and Maiora Solution what the housing situation is in Milan during the Milan Design Week.
Rents tripled for Milan Design Week
According to Abitare Co., this year the level of absorption of the apartments on offer, a few days before the start of the event, reached 89% of the total. If you compare the price with any week in another period of the year, without international events, you can see how the average weekly rent is more than tripled passing by €1,207 well €3,855 (+214%), with an average growth in rents of +5.3% compared to 2023. An impact on rents, that of the Design Week, which also extended to the hinterland and in particular to Monza, given that for the first time the Fuorisalone will leave the metropolitan area strictly speaking to expand into province of Monza and Brianza. In the Brianza capital theaverage increase in weekly rents is +289% (€2,590)more than Milan; in Rho weekly prices grew by +255% (€2,310), in Sesto San Giovanni by +213% (€1,750), in San Donato Milanese by +207% (€1,890), in Corsico by +110% (€ 1,190) and in Segrate by +104% (€1,610).
The most expensive areas to stay in Milan during Design Week
What are the most expensive areas in Milan? It is confirmed once again Brerawhere on average you need more than that to rent an apartment for a week €5,740with the maximum value in Moscova Street (€7,350). Moving on to other areas of design analysed, those traditionally most linked to the event, a Garibaldi / Porta Volta the cost is 4,820 per week, while prices become “cheaper” in the area Tortona (€3,070), Lambrate (€2,890) e Island (€2,840).
As regards the individual streets of Milan, those who wish to enjoy the design week without setting spending limits can choose, in addition to the aforementioned Moscova Street (€7,350), too Via Solferino (€6,930 per week), or Via San Marco (€6,510). Those who, however, do not want to miss the appointment but have a limited budget can opt for some streets in the Lambrate areas, such as Via Oslavia (€2,520), or Tortona, as in Voghera (€2,530) or Via della Pergola in the Isola district (€2,730).
Price differences with 2023
And compared to 2023? This year, in the Milanese neighborhoods analyzed, they are registered much smaller price increases compared to what had happened in 2023 compared to 2022. Lambrate, although it is no longer part of the Milan Design Week districtsAnd back on top among all the Milanese neighborhoods in terms of increase in rents; here prices have risen by 10.8%, but in 2023, compared to the year before, the increase was 26%.
In the area of Tortona the increase was +6.6%, a Brera by +5.0%, a Garibaldi/Porta Volta by +4.5%, a Roman Gate by +2.6% andIsland by +2.4%.
Hotel prices in Milan during Design Week 2024
As regards accommodation facilities and their prices during the Milan Design Week, Maiora Solutions monitored the situation in accommodation facilities (apartments and B&Bs), in city hotels (from 2 to 5 stars) and the solutions proposed by Airbnb. There are two facts: less than 10 days before the start of Design Week there is no “sold out” in Milanwhile the price increase remains very high again this year, with a night in a hotel which costs 320% more in the week of the Salone del Mobile compared to the previous one.
As regards the average price of a night in hotels in Milan, the survey reveals that during the Design Week the cost is equal to 350 euros for a 2 stars, 488 euros for a 3 stars, 669 euros for a 4 stars And 1222 euros for a hotel 5 stars.
The previous week (April 8-14), a night in Milan costs much less on average: 135 EUR in a 2 stars, 153 EUR for a 3 stars, 246 euros for a 4 stars And 424 euros for a hotel 5 stars.
At a percentage level the price increase during the days of the Show is triple digitsrespectively: +260% in a 2 star hotel, +320% in a 3 star hotel, +270% in a 4 star hotel and +290% in 5 stars.
The comparison with the week following Design Week (April 22-28) shows even more sustained increases. In fact, the average cost of a night in a hotel in 2 stars is equal to 107 euros, 109 in a hotel in 3 stars, 137 in a 4 star hotel and 325 in a 5 stars.
The percentage growth in prices during Design Week compared to the following week is even higher than the previous one: +330% for one night in a 2 star hotel, +450% in a 3 star hotel, +490% in a 4 star hotel and +375% in 5 stars.
The analysis conducted on the solutions offered by Airbnb shows that the average price is 340 EUR per night, much higher than the two weeks analyzed for comparison, which show a similar value: 125 euros per night (8-14 and 22-28 April).
