Net leases under the 6+6 standard (six-year minimum with tenant renewal option for another six).

  • Typical lease length: 6 years.
  • Typical rent-free: 5 months.
  • Vacancy: 9.2%; trend rising.
  • Net leases under the 6+6 standard (six-year minimum with tenant renewal option for another six).

Milan office lease norms

Net leases under the 6+6 standard (six-year minimum with tenant renewal option for another six).

TL;DR

  • Typical lease length: 6 years.
  • Typical rent-free: 5 months.
  • Vacancy: 9.2%; trend rising.
  • Net leases under the 6+6 standard (six-year minimum with tenant renewal option for another six).

Structure

Net leases under the 6+6 standard (six-year minimum with tenant renewal option for another six). Free rent of 4-9 months and TI of €60-€100/sqm typical.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

cityMilan
countryItaly
regionEMEA
classARentLocal48 EUR/sqft/yr
classARentUsd$52/sqft/yr
vacancy9.2%
typicalLeaseYears6
typicalRentFreeMonths5
submarkets5
primeYieldPct4.6%

Frequently asked questions

What's a typical lease term in Milan?
6 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Milan?
In EUR/sqft/year. We also publish a USD-normalised view ($52/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

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