Lombardy

In the heart of Milan’s historic San Cristoforo neighborhood, a groundbreaking residential complex is redefining urban living. Bosconavigli, designed by the renowned Stefano Boeri Architetti in collaboration with Arassociati and AG&P greenscape, is not just another apartment building – it’s a vertical forest that bridges the gap between city life and nature.

This innovative project reimagines the traditional Lombard courtyard house, spiraling upwards to create a harmonious blend of architecture and greenery. With 170 trees of 60 different species adorning its facades, roofs, and balconies, Bosconavigli is a testament to sustainable urban development. But Bosconavigli is more than just a pretty face.

The complex offers 90 apartments, each designed with large outdoor spaces that serve as “outdoor rooms,” blurring the line between interior and exterior living. Public amenities, including a restaurant-bistro and wellness facilities, make it a true community hub. The project’s commitment to sustainability goes beyond its lush greenery. Solar panels, rainwater harvesting, and geothermal energy production are just a few of the eco-friendly features integrated into the design. Moreover, the building’s green elements act as natural barriers against noise and air pollution, enhancing the quality of life for residents. Bosconavigli isn’t just changing the skyline of Milan – it’s changing the way we think about urban living. As cities worldwide grapple with environmental challenges, this project offers a glimpse into a greener, more sustainable future where nature and architecture coexist in perfect harmony.

Photo via Bosconavigli

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The real estate market is going through a transitional phase, moving from a period of strong euphoria to one of greater reflection. According to data from the Revenue Agency and the Tecnocasa Group, there is a decrease in residential property sales and an increase in the average discount applied to selling prices. In the second half of 2023, the average discount in Italy was 8.3%, an increase compared to the previous year.

This gap between the price requested by sellers and the price actually paid by buyers is widening, indicating greater caution in the market. The discounts vary depending on the type of property. Used properties suffer greater reductions (8.5%) compared to renovated (7.5%) and new (4.5%) ones, as they often require renovation work that entails additional costs. The most significant discounts, almost 12%, are recorded for properties purchased for investment purposes, where the buyer’s purchasing power carries more weight.

Economical properties and homes sold out of necessity suffer above-average discounts, respectively 10.2% and 9.6%. The position of the property also influences the discount: ground-floor apartments suffer discounts of 8.5%, while for those on the top floors, the discounts are more contained (7.7%). These data confirm the picture of a slowing real estate market. In fact, the Revenue Agency has recorded a sharp decline in residential property sales in the first quarter of 2024, equal to 7.6% compared to the same period in 2023 and 7.2% compared to the last quarter of 2023, affecting all areas of the country.

Source: Il Sole 24 Ore

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