The cost of living well in Milan.

Our verdict. Milan suits a family with large foreign income, for whom Italy's flat tax on foreign income takes the place of the 43% top rate: a fixed €300,000 a year on foreign income for anyone moving from 1 January 2026, plus €50,000 for each family member. Schooling is moderate; the International School of Milan charges €26,950 for Grade 13. The catch is the price of prime homes, about €22,093 per square metre, and a city with no sea berth and no published club golf fees. Set against Paris, a prime square metre costs about 57% more, but the school costs about €14,450 less a year.

1. A prime family home, rented2026£126k

   €150,000 a year · Top-segment rents above €750 per m² a year in Milan (Tirelli & Partners survey of exclusive homes) x 200 m²

   Tirelli & Partners, Osservatorio sulle Residenze Esclusive 2025, via Milano Finanza, H2 2025 report (article 22 Feb 2026)

2. Senior school fees, two children2026-27£45k

   €26,950 a year a child · International School of Milan, Grade 13 annual tuition

   International School of Milan, Annual school fees 2026-2027 (PDF), 2026-27 academic year

3. Membership at a leading golf club—

   Golf Club Milano and the other leading clubs publish no membership fees.

4. A berth for a 20 m yacht—

   Milan is inland, with no sea marina.

5. A full-time housekeeper or nanny2026£12k

   €13,694 a year · Legal minimum under Italy's national domestic-work contract (CCNL) for a full-time live-in nanny (level BS, up to 54 hours a week), 2026: €1,053.39 a month x 13 payments (incl. the 13th month), with board and lodging provided on top

   Ministero del Lavoro, Lavoro domestico - tabella minimi retributivi, decorrenza 1 gennaio 2026 (Tabella A); CCNL lavoro domestico of 28 Oct 2025 (Art. 9, 14, 39), From 1 Jan 2026

6. Tasting menu for two, twice a month2026£15k

   €750 a dinner · Enrico Bartolini al Mudec (three Michelin stars), "Mudec Experience" tasting menu EUR 375 pp x 2, food only

   Enrico Bartolini al Mudec, menu (ITA) flipbook PDF linked from the restaurant page, Autumn 2026 menu

Figures are published prices, fees and surveys as dated, converted to pounds at the stated rates. They change, vary by home, school year and membership, and are a guide, not a quote. Nothing here is financial, tax or legal advice.

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Pounds at ECB reference rates (Gulf currencies at their dollar pegs) rates of 2026-10-20.