--- title: "Milan vs Vienna: Class A office comparison" description: "Side-by-side Class A office comparison for Milan and Vienna — rent, vacancy, talent, tax, lease norms, transit, and top submarkets." canonical: https://classa.info/compare/milan-vs-vienna pageType: comparison lastUpdated: 2026-04-15T00:00:00.000Z license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)." --- > Milan ($58/sqft, 9.2% vacancy) and Vienna ($31/sqft, 4.6% vacancy) compete on different axes: Milan on rent and tax and Vienna on talent depth. ## TL;DR - Class A rent: Milan $58/sqft vs Vienna $31/sqft. - Vacancy: Milan 9.2% vs Vienna 4.6%. - Talent index: Milan 82 vs Vienna 84. - Corporate tax: Milan 27.9% vs Vienna 23%. - Premium flex/seat/month: Milan $580 vs Vienna $720. # Milan vs Vienna: Class A office comparison **Milan ($58/sqft, 9.2% vacancy) and Vienna ($31/sqft, 4.6% vacancy) compete on different axes: Milan on rent and tax and Vienna on talent depth.** ## TL;DR - [Class A](/glossary/class-a) rent: Milan $58/sqft vs Vienna $31/sqft. - Vacancy: Milan 9.2% vs Vienna 4.6%. - Talent index: Milan 82 vs Vienna 84. - Corporate tax: Milan 27.9% vs Vienna 23%. - [Premium flex](/topics/lease-vs-flex)/seat/month: Milan $580 vs Vienna $720. ## Market data side-by-side | Metric | Milan | Vienna| | Region | EMEA | EMEA| | Country | Italy | Austria| | Class A rent (USD/sqft/yr) | $58 | $31| | Class A rent (local) | 48 EUR | 312 EUR| | Vacancy | 9.2% | 4.6%| | Trend | rising | flat| | Prime yield | 4.6% | 4.4%| | Premium flex / seat / month (USD) | $580 | $720| | Submarkets covered | 5 | 5| | Corporate tax | 27.9% | 23%| ## Lease norms | Metric | Milan | Vienna| | Typical term | 6 yrs | 5 yrs| | Typical rent-free | 5 mos | 6 mos| | Lease norms | 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. | Net leases with operating-expense pass-throughs (Betriebskosten) are standard. CPI indexation (VPI) is universal. Lease lengths of 5 years are typical with break options; longer terms negotiable for full-floor takes. Free rent of 4-8 months and EUR 250-350/sqm fit-out">fit-out contributions are typical on prime deals.| | Tax note | 24% federal corporate income tax (IRES) plus 3.9% regional production tax (IRAP) for a combined effective rate near 27.9%. | Austrian federal corporate income tax of 23% (reduced from 25% in 2024). 20% VAT. Vienna municipal payroll tax (Kommunalsteuer) of 3%. International-organisation tenants benefit from headquarters-agreement tax exemptions.| ## Talent | Metric | Milan | Vienna| | Talent index (0–100) | 82 | 84| | Talent note | Deep finance, fashion, design, and luxury talent. Strong feed from Bocconi, Politecnico, and the broader Lombardy university system. Multilingual (Italian-English) talent supports international corporate HQs. | Strong feed from TU Wien, Wirtschaftsuniversität Wien, and the University of Vienna. Multilingual professional base (German, English, CEE languages) supports regional-HQ tenancy. Deep institutional banking and asset management talent.| ## Transit & commute **Milan:** ATM Metro (5 lines), tram, and bus. Trenord regional rail anchors the Greater Milan catchment. Malpensa airport is connected via the Malpensa Express; Linate is closer to the city. **Vienna:** Wiener Linien U-Bahn (five lines), S-Bahn commuter rail, and ÖBB long-distance rail at Hauptbahnhof. All trophy office clusters are within a 5-minute walk of a U-Bahn station. ## Top submarkets — Milan - [**Centro Storico (Quadrilatero)**](/cities/milan/centro-storico) — [trophy tier](/topics/trophy-asset-selection) · €64/sqm/mo · ≈ $77.1 PSF/yr USD - [**Porta Nuova**](/cities/milan/porta-nuova) — trophy tier · €60/sqm/mo · ≈ $72.2 PSF/yr USD - [**CityLife**](/cities/milan/citylife) — trophy tier · €58/sqm/mo · ≈ $69.8 PSF/yr USD ## Top submarkets — Vienna - [**Innere Stadt**](/cities/vienna/innere-stadt) — trophy tier · €336/sqm/yr · ≈ $33.7 PSF/yr USD - [**Hauptbahnhof**](/cities/vienna/hauptbahnhof) — trophy tier · €312/sqm/yr · ≈ $31.3 PSF/yr USD - [**Donau City**](/cities/vienna/donau-city) — prime tier · €264/sqm/yr · ≈ $26.5 PSF/yr USD ## Decision criteria ### Pick by cost Vienna is the cheaper Class A market on a USD basis. ### Pick by talent depth Vienna has the deeper talent index (84/100 vs 82/100). ### Pick by tax Vienna has the lower headline corporate tax (23% vs 27.9%). Local incentives can change the effective rate materially. ### Pick by lease optionality Milan typical term is 6 years with 5 months free; Vienna runs 5 years with 6 months free. ### Pick by transit Milan: ATM Metro (5 lines), tram, and bus. Trenord regional rail anchors the Greater Milan catchment. Malpensa airport is connected via the Malpensa Express; Linate is closer to the city. Vienna: Wiener Linien U-Bahn (five lines), S-Bahn commuter rail, and ÖBB long-distance rail at Hauptbahnhof. All trophy office clusters are within a 5-minute walk of a U-Bahn station. ## Run a 4-city comparison Score Milan, Vienna and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD. [**Run a 4-city comparison →**](/tools/city-comparator) ## Frequently asked questions ****Is Class A office cheaper in Milan or Vienna?**** : Vienna is cheaper on a USD basis: $31/sqft vs $58/sqft. ****Which has better talent depth, Milan or Vienna?**** : Vienna indexes higher on talent depth (84 vs 82). ****Which has more sublease availability, Milan or Vienna?**** : Milan carries higher vacancy (9.2% vs 4.6%) and therefore typically more sublease overhang. ****What lease term should I expect in Milan vs Vienna?**** : Milan typical term is 6 years with 5 months rent-free; Vienna typical term is 5 years with 6 months rent-free. ****How does transit and commuter access compare?**** : Milan: ATM Metro (5 lines), tram, and bus. Trenord regional rail anchors the Greater Milan catchment. Malpensa airport is connected via the Malpensa Express; Linate is closer to the city. Vienna: Wiener Linien U-Bahn (five lines), S-Bahn commuter rail, and ÖBB long-distance rail at Hauptbahnhof. All trophy office clusters are within a 5-minute walk of a U-Bahn station. ## Editorial provenance Reviewed by [**Samuel Okafor**](/about/authors/samuel-okafor) — EMEA contributing editor. Last updated 2026-04-15. See our [methodology](/about/methodology) and [editorial standards](/about/editorial-standards). ### Primary sources for this page - [CBRE Marketview reports](https://www.cbre.com/insights) — CBRE - [JLL Office Insight](https://www.jll.com/en/trends-and-insights) — JLL - [Cushman & Wakefield Marketbeat](https://www.cushmanwakefield.com/en/insights) — Cushman & Wakefield - [Savills World Research](https://www.savills.com/research_articles/) — Savills - [Colliers Global Office Outlook](https://www.colliers.com/en/research) — Colliers [Full sources index](/about/sources) · [Submit a correction](/about/corrections) --- Citation: Source: Class A Atlas (https://classa.info/compare/milan-vs-vienna), updated 2026-04-15T00:00:00.000Z.