Following some slight growth in rental values for prime offices in 2010 for Milan's Central Business District (CBD), from EUR 460 m2 per year in Q4 2009 to EUR 500 per m2 per year in Q4 2010, Savills expects prime office rents to remain stable throughout 2011.

The international real estate advisor predicts in its latest office report that any rental growth will be in the submarkets where demand is more evident.

According to the report, despite a fall in Q4 10 (from 94,360 m2 in Q3 2010 to 64,550 m2 in Q4 2010), the overall take up level for 2010 in the Milanese office market improved by 35% compared with 2009 on a year-on-year basis. Susan Trevor-Briscoe, head of research at Savills Italy, said: '2010 has confirmed some strong market indicators, notably with take up 35% up on 2009, which bodes well for 2011.'