Milan

La Lombardia è la regione con più transazioni in Italia

(Source: Sole24Ore) Milan’s Rental Market Skyrockets: Double the Growth Rate of Rome in One Year

By Columbus International,31 August 2023

In the month of July, prices and rental rates remain stable in the two major Italian cities, although the year-on-year growth for rents remains significant. The affordability of the market in the two cities under examination also follows the trends of the previous months, with an average resident able to access only 3.6% of the available options in the city of Milan and 6.3% in the Capital. This is the outcome of the monthly Real Estate Market Observatory for Rome and the main city of Milan, compiled by Immobiliare.it Insights, a company within the Immobiliare.it group, as reported by Sole24Ore.

Regarding prices, specifically in Milan, the selling prices have reached an average of €5,270 per square meter, showing a rise of 0.3% compared to the previous month (+5.4% year-on-year). Meanwhile, in Rome, they have settled around €3,336 per sqm (-0.1% in the last month, and also compared to twelve months ago). At the same time, Milan’s rental rates stand at an average of €22.1 per sqm, while those in Rome stop at €15 per sqm. In both cases, there is an increase of approximately half a percentage point compared to the previous month, though the year-on-year growth is more pronounced: +10% in Milan and +5.4% in Rome. The demand for apartments for sale continues to contract in Milan, registering a decline of 7% in July. This is coupled with a reduction in the stock of properties on offer, down by 2.1% during the same period, a clear contradiction to the annual figure. A similar situation can be seen in the capital: stock contracts by 0.7% in July, while demand decreases by 5.9% during the same period. In the rental sector in Milan, there is an accumulation of offered properties in the last month, amounting to +7.9%, and an increase in demand during the same period by +4.5%. In both cases, the positive trend is maintained on an annual basis, with monthly demand even growing at a triple pace compared to the rate observed over the last 12 months. In contrast, the Roman market behaves differently from its Milan counterpart.

Primarily, in the last month, a net reduction of almost 5 percentage points in rental properties on offer was observed. However, demand is moving at double the pace of Milan, with a +9.4% increase in the last month. The most expensive neighborhoods in the two main Italian cities are their respective historic centers: the Lombard capital’s historical center exceeds €10,100 per sqm, while the Roman historical center surpasses €7,100 per sqm. Beyond this largely expected data, the Observatory also reveals the neighborhoods that have appreciated the most over the past year. In the capital, the accolade goes to Termini, Repubblica, which has appreciated by 11.8% in a year (remaining stable on a monthly basis) and reaching an average of €4,459 per sqm. It is followed by Battistini, Torrevecchia, and Appio Claudio, Capannelle, which are close in the range between €3,200 and €3,300 per sqm on average: the first sees sales prices increase by 6.8% in the last year, the second by 6.6%. As for Aventino, San Saba, and Caracalla, apart from being the second most expensive neighborhood in Rome with its €6,278 per sqm on average, it is also the one that has seen prices grow the most in the last month: +1.7%, despite remaining stable compared to a year ago. Turning to Milan, as in the case of Rome, a neighborhood near a train station is once again seeing the main appreciation: Corvetto, Rogoredo appreciated by 10.7% in a year (+1.5% in the month) and reached an average of €3,980 per sqm. Garibaldi, Moscova, Porta Nuova, apart from being the second most expensive neighborhood in the city (and in Italy) at €9,958 per sqm, also holds the same city position for sales price growth: +9.7% compared to July 2022. The third most revalued neighborhood compared to a year ago is once again close to a station, in this case, the Lambrate station: Udine, Lambrate reached €4,187 per sqm after a yearly growth of 9.6%. No surprises for the most expensive neighborhoods in the rental sector: the two historic centers are the priciest areas in this case as well, with nearly €30.2 per sqm for the Center of Milan and €24.2 per sqm for the Roman Historical Center.

In Rome, the neighborhood with the highest rental growth in the year is Aventino, San Saba, Caracalla: its +19.4% (despite stability in the month) brings it to €23.3 per sqm on average, confirming it as the second most expensive neighborhood in the city for rentals. Behind it, we find Trionfale, Monte Mario, and Ottavia (+15% annually), and Pigneto, San Lorenzo, and Casal Bertone at +11.6%. Parioli, Flaminio, on the other hand, is the one that grows the most in the month, reaching €19.7 per sqm (+2.7% in July). Returning to Milan’s real estate market, the area of Bisceglie, Baggio, and Olmi is the most economical, at €15.9 per sqm, but it is also the one that has grown the most compared to a year ago: +21.3%. Also on the podium are Cimiano, Crescenzago, and Adriano (+21.1%), followed by Famagosta and Barona (+15.6%), just ahead of Affori and Bovisa (+15.4%). In the month of July, however, there is an appreciation for rental properties in the Pasteur, Rovereto area: +3.3% (still +13.4% on an annual basis).

Real Estate: Milan 2023’s Booming Rental Market Revealed by Immobiliare.it’s Room Observatory

By Columbus International,18 August 202318 August 2023

626 euros per month is the average for the monthly rent of a single room in Milan in 2023, a stable price (+1%) compared to last year but still the most expensive in Italy. This is what emerges from the latest “Osservatorio sulle Stanze” (Rooms Observatory) by Immobiliare.it. But is this amount the same throughout the city of Milan? The answer is no, and here is the neighborhood-by-neighborhood breakdown of how much you pay for a single room in different areas of Milan. The most expensive areas The Porta Venezia – Centro – Porta Genova triangle represents the gold podium of rentals: those who want to secure a single room in these three prestigious neighborhoods must be prepared to pay more than everyone else. The prices here have reached:

– 871 euros in the Genova, Ticinese area, after an annual increase of 29%
– 769 euros in the Porta Venezia, Indipendenza area, with a +22% compared to 2022
– 758 euros in the Centro area, +10% compared to last year

Where you spend less

However, there are areas where the city offers opportunities for savings compared to the city’s average. It must be said, though, that in no area do you ever spend less than other more populous Italian locations for out-of-town students. Milan, even where you save, remains the most expensive overall. For those who don’t want to give up the city but want to try to spend less than colleagues living in the center, here are the three cheapest zones:

– Napoli, Soderini, where a single room costs an average of 536 euros per month – Zona Forlanini, with 553 euros
– Udine, Lambrate, where the average spending is 567 euros (a figure not far from the average of Abbiategrasso and Cascina Merlata)

Where prices have increased the most and the least If so far we have provided an overview of the costs to consider in this new academic year, it is also important to pay attention to the areas of the city that have appreciated the most in the last 12 months.

Landlords who rent out their apartments, divided into rooms, have seen the value grow the most if the property is located in one of these five areas:

– Genova, Ticinese 871 €
– Maggiolina, Istria 609 €
– Precotto, Turro 605 €
– Porta Venezia, Indipendenza 769 €
– Navigli 715 €

On the other hand, those who have seen the price for a room appreciate less are those in this last ranking:

– Quadronno, Palestro, Guastalla 682 €
– Solari, Washington 637 €
– Napoli, Soderini 536 €
– Forlanini 553 €
– Cenisio, Sarpi, Isola 657 €

Real Estate: Elevating Milan’s Skyline, The Majestic A2A Tower Redefining Urban Elegance. Explore Further News

By Columbus International,7 August 2023

An ambitious architectural project is beginning to take shape in the heart of Milan: the creation of the new A2A Tower. In the coming months, or perhaps as early as the upcoming autumn season, construction will commence on this grand structure, set to redefine the appearance of Porta Romana as it rises impressively over 28 floors, reaching a height of 145 meters.

The task of shaping the tower has been entrusted to the architecture firm led by Antonio Citterio and Patricia Viel. The design will be a symphony of modernity and elegance: an oval-shaped base, enveloped in glass walls, will embrace a total surface area of 37,000 square meters, including the base spaces. The building will undoubtedly be one of the tallest in the city, and its structure will house a variety of functions. The initial twelve floors, for instance, will transform into office spaces, creating a stimulating and innovative work environment. However, at a height of around 60 meters, around the twentieth floor, a genuine suspended garden will emerge, offering an atmosphere of tranquility and nature that blends with the surrounding urban energy.

This green paradise will be accessible from one of its sides, opening its doors to contemplation and recreation. As one ascends towards the sky, an additional eight floors of office spaces will stand, crowned by a striking “belvedere” that will offer breathtaking views of the city to the citizens of Milan and visitors alike. In numerical terms, it is estimated that the tower could accommodate a working community of approximately 1,500 individuals, all integral parts of the company. Yet, the impact of the A2A Tower goes beyond its work-related function. This architectural gem will transform the surrounding urban landscape, a vertical revolution that will shed new light on the entire neighborhood. Surrounded by an ambiance of water and framed by green spaces, the glass structure will enchant onlookers and give rise to a new landscape identity. The inauguration of this magnificent creation appears to be planned in conjunction with the anticipated event of the 2026 Winter Olympic Games.

Despite financial details not yet being disclosed, former A2A CEO Luca Valerio Camerano had suggested in June 2019 that the project would find its financial backing, also offering value-added opportunities for shareholders. An important aspect of the new tower’s construction process involves the rationalization of the energy company’s real estate properties. Seven buildings in Milan, including the current headquarters at Porta Vittoria, will be divested, allowing for the concentration of the 1,500 employees within the spectacular new headquarters. The existing locations will remain intact for those directly involved in essential operations, such as Amsa and the immediate intervention of Unareti.

Unlocking Luxury: The Preferred Choice for Milan’s High-End Homeowners. Source: Nativo/Idealista News

By Columbus International,2 August 2023

Owning a luxury residence in Milan can be a stroke of luck: in these cases, it’s a small treasure to be carefully managed, whether you choose to sell or generate income. According to Nativo, a company specialized in luxury short-term rentals, the latter option is preferred by luxury homeowners in Milan. According to co-founders Sara Lini and Adriano Frigoli, here are the reasons why more and more luxury property owners in Milan prefer renting over selling. According to Nativo’s data (Nativostay.com), over 30% of luxury property owners who approach them are considering both selling and renting, but almost all of them opt for renting after a thorough analysis of the market and economic factors. In short, the key factors that often determine the choice between selling and renting a luxury home in Milan are: inflation growth, difficulty in finding viable alternative investments – both in the real estate and stock markets, and government bonds – rising mortgage rates, and the increasing demand for luxury rentals influenced by events like Brexit or the introduction of a flat tax, as well as more fluid lifestyles that require greater mobility.

The reasons for choosing to rent a luxury home in Milan are diverse:

Protection against inflation: Firstly, the luxury rental sector represents a protected segment within the real estate market. A luxury property is considered a solid asset against inflation and an option that safeguards long-term investment returns.

Difficulty in investing sales proceeds: Currently, there are no convenient and alternative solutions to invest the liquidity generated from selling a luxury property. The instability of the stock market, compounded by geopolitical factors and rising commodity costs, makes residential real estate investment in Milan more profitable compared to other options, such as government bonds. For example, renting a two-bedroom apartment in Milan with an open-ended lease averaging a gross annual yield of 5.5% for the owner, which proves to be more lucrative than government bonds, generating revenue of 3.75%.

Limited supply of luxury properties: Another aspect to consider, for those who temporarily leave Milan but intend to return, is the difficulty in finding a luxury property in the city. Demand consistently exceeds supply, and many properties are owned by families who do not require liquidity, so those who own a beautiful apartment often hold onto it.

Olympic Games effect: Additionally, the Olympic Games effect should not be overlooked. Many believe that prices will continue to rise at least until 2026, which is why they choose to generate income from their assets until the market reaches its peak.

ECB interest rate hikes: Looking at the economic context, the European Central Bank’s tight monetary policy has led to a significant increase in mortgage interest rates. This means that those who purchased a property in the past at lower rates would end up paying much more if they decided to purchase another one, consequently losing the advantage of the previous rate.

Growing rental demand: Other factors influencing the choice to rent instead of selling involve the growing demand for rentals from high-spending foreigners, making this segment particularly lucrative. Many of Nativo’s tenants come to Italy to take advantage of the flat tax, while others arrive after having lived in London for an extended period due to Brexit. In general, it’s becoming increasingly clear that Milan is attracting a great deal of talent, including successful executives and entrepreneurs, which naturally drives strong demand for luxury rental properties.

Greater flexibility: Lastly, changing lifestyles and work patterns make it challenging for property owners to predict where they will live in the future. Flexibility becomes a crucial aspect, and renting offers the opportunity to keep options open for potential future use of the property.

Milan’s Real Estate Market Soars: Unveiling the Hidden Gems for Affordable Homebuying!

By Columbus International,26 July 2023

Milan continues its upward trend in the real estate market, firmly securing its position at the top of Italy’s housing price charts, with an average of 5,186 euros per square meter. On a European scale, it ranks third among the most expensive cities for a two-room apartment, trailing only behind Amsterdam and Lisbon. However, there is still hope for those seeking to buy a home below the city’s average and with the potential for future appreciation.

The Immobiliare.it Insights Observatory, featured and reworked by Fanpage.it, has examined neighborhoods that have experienced significant price growth compared to pre-Covid times, while still offering accessible costs compared to Milan’s most coveted areas. These neighborhoods are primarily situated in the North/Northeastern part of the city, often well-connected to the metro network and undergoing a new wave of gentrification. Among the intriguing locations are Cimiano-Crescenzago-Adriano, Viale Certosa-Cascina Merlata, Pasteur-Rovereto, Affori-Bovisa, and Precotto-Turro. In these areas, the average price per square meter remains below the city’s 5,186 euros. Cimiano-Crescenzago stands out as the neighborhood with the highest price growth in the last three years, boasting a 30% increase and a current average price of 3,495 euros per square meter. Following closely are Viale Certosa-Cascina Merlata, experiencing a 29.8% surge and an average cost of 3,798 euros per square meter, and Pasteur-Rovereto, with a remarkable 28.5% growth and an average price of 4,579 euros per square meter. Affori-Bovisa and Precotto-Turro are also on the rise, with respective increases of 26.9% and 25.3%, and average costs per square meter of 3,425 euros and 3,996 euros.

Honorable mentions go to the area served by the brand-new M4 Forlanini metro line, where the average price per square meter stands at “only” 3,191 euros for a house, yet witnessed a notable 24.9% increase recently. Similarly, Udine-Lambrate is a pricier district, with an average of 4,136 euros per square meter, but still experienced a substantial 24.1% growth in recent years. These emerging neighborhoods present intriguing opportunities for homebuyers looking to acquire a property in Milan at a more affordable price while holding the potential for short-term appreciation.

Real estate market on the rise, +2.5% compared to the beginning of 2023. The most expensive city is Milan

By Columbus International,13 July 202313 July 2023

According to a report published by the biannual Residential Property Market Observatory by Immobiliare.it Insights, the average cost of buying a house in Italy is currently €2,125 per square meter, showing a 2.5% increase compared to the beginning of 2023. During the same period, rental prices have increased by 5.4%. It is interesting to note that Milan, one of Columbus International‘s reference markets, is the most expensive location for both buying and renting properties. Despite a decrease in demand and an increase in supply in the Italian real estate market, housing prices continue to rise in the first half of 2023.

The Residential Property Market Observatory by Immobiliare.it Insights also highlights a decrease in affordability for singles and couples across the country. In major cities, the average cost of buying a house is €3,236 per square meter. However, demand has decreased by 2.9% in the last semester, while the supply of available properties on the market has increased by 8.3%. Regarding rentals, rental prices remain higher in major cities, with an average of over €16 per square meter compared to €10 in smaller cities. However, smaller cities show a higher growth rate (+8.1% in the semester) compared to larger cities (+5.5%). Milan confirms its position as the most expensive city for buying a house, with an average price exceeding €5,250 per square meter, followed by Bolzano, Florence, Bologna, and Rome. Additionally, Milan is also the most expensive city for rentals, with an average of €22 per square meter, followed by Florence and Bologna.