Milan real estate

La Lombardia è la regione con più transazioni in Italia

A million-dollar deal: Campari purchases headquarters in Milan from Bnp. All the latest information here (source: Sole24Ore)

By Columbus International,4 March 202411 March 2024

An operation that reinvigorates Milan’s real estate market, which has been declining since the beginning of the year. The transaction in question sees Campari as the buyer and Bnp Paribas Reim, an investment management company specializing in real estate and part of the Bnp Paribas Group, as the seller.

The real estate company has sold, on behalf of a managed real estate fund, an office building located at Corso Europa 2, a stone’s throw from Milan’s Duomo. Here, Campari will establish its headquarters. The transaction was completed for a sum of approximately 110 million euros, to which renovation costs are added. The building covers a total area of approximately 10,000 square meters, spread over nine above-ground floors and four underground floors. The building faces both Corso Europa and Via Larga. After the sale, the building will undergo renovation and modernization by the buyer, as it is currently divided into spaces previously rented to various Italian and international tenants.

Many of them have already left the building, including the Bpm branch, and soon Commerzbank and the Molteni store will follow suit. This will give rise to the new headquarters where Campari Group will move in 2027, as stated by the company. Currently, Campari’s headquarters is located in Sesto San Giovanni, in a complex designed by architect Mario Botta and inaugurated in 2009. Returning to the building on Corso Europa, it was purchased in 2016 by the real estate company of the banking group through the Fundamenta fund, paid 91 million euros at the time. The asset was sold by the Borromeo family, assisted in the operation by JLL Italia.

The Borromeo family remains active in the real estate sector also through Merope Asset Management, an investment and real estate development company founded and led by Pietro Croce, of which they hold 10%. “The sale of the asset on Corso Europa to an international and prestigious company like Campari demonstrates how Bnp Paribas Reim is able to offer high-level solutions in the active management of real estate investments,” commented Vincenzo Nocerino, CEO of Bnp Paribas Reim Italy at Sole24Ore. “It shows interest in a building with solid fundamentals and located in a strategic position in the center of Milan, the beating heart of a metropolis increasingly oriented towards Europe, essential characteristics for a property destined to host the headquarters of a large group.”

Skyrocketing Demand: Luxury Real Estate Surges 9% as Global Buyers Flock In

By Columbus International,5 February 2024

The transactions of luxury homes are experiencing a 9% increase, with demand surpassing supply, according to the report from the Gabetti Studies Office based on data from Santandrea Luxury Houses & Top Properties, specializing in the analysis of the prestigious real estate market. Foreign buyers represent 70%, while the remaining 30% are Italians. In most cases, the purchase is motivated by exclusive use, either as a primary residence or a second home. The average age of buyers ranges from 45 to 70 years for properties costing at least one million euros, and their maintenance can be costly. High floors and terraces are the most requested features, followed by parking spaces.

Milan stands out as the most expensive city, with prices averaging a 1.4% increase in 2023 compared to the previous year. In the Brera district, the average price per square meter exceeds 11,000 euros, while in the Quadrilatero, it stands at around 12,300 euros. In Rome, demand is increasing in the Prati and Salario-Trieste neighborhoods, with average prices for new/restructured properties around 6,000 euros per square meter. In the historic center, the average price per square meter exceeds 10,000 euros.

In Florence, the most expensive areas are central, such as the Lungarni, where a new/restructured residence costs an average of 6,200 euros per square meter. Genoa records price increases everywhere except in the Quarto/Quinto area. In Naples, prices remain essentially stable, and the number of transactions is slightly decreasing. In Turin, prices also remain stable, although the demand for purchases varies depending on the neighborhoods.

Source: Corriere della Sera

Jeff Bezos’ bold move: Miami beckons as he leaves Seattle behind (Source: People)

By Columbus International,3 November 2023

The Amazon Titan, Jeff Bezos, is trading the rain-soaked Pacific Northwest for the sun-drenched allure of Miami’s real estate scene. The 59-year-old tech mogul made a splash on Instagram when he unveiled his plans to relocate to Miami in the near future. In his social media announcement, Bezos shared a nostalgic clip from the early days of Amazon, reflecting on his roots in Seattle. “Seattle has been my home since 1994 when I started Amazon out of my garage,” he fondly reminisced. Notably, Bezos revealed that his father, Miguel Bezos, played the role of the cameraman in the video, adding a personal touch to the post.

“My parents [Miguel and Jacklyn] have always been my biggest supporters. They recently moved back to Miami, the place we lived when I was younger (Miami Palmetto High class of ’82 — GO Panthers!).” Bezos went on to explain the driving force behind his upcoming relocation, stating, “I want to be close to my parents, and [fiancée] Lauren and I love Miami.” He also highlighted the shifting focus of his aerospace company, Blue Origin, towards Florida’s Cape Canaveral. While expressing his deep attachment to Seattle, Bezos acknowledged the bittersweet emotions surrounding the move. “As exciting as the move is, it’s an emotional decision for me. Seattle, you will always have a piece of my heart.” In the video clip from 1994, a young Bezos guided a tour of Amazon’s early headquarters in his three-bedroom Seattle home. The scene showcased a cluttered yet promising office space filled with papers, books, fax machines, and dated computers. Bezos humorously quipped, “That’s about it. It doesn’t take long to tour the offices of Amazon.com.”

This monumental decision to relocate follows Bezos’ recent acquisition of a luxurious seven-bedroom mansion on a private island in Miami’s Biscayne Bay. The opulent property, nestled on a man-made island, was secured in September for an impressive $79 million, according to Bloomberg. This purchase came on the heels of Bezos’ earlier acquisition of a neighboring home in June, which he acquired for $68 million.

Together, these two properties span approximately 1.8 acres on the exclusive Florida island, marking a significant footprint in Miami’s real estate landscape. Before embarking on this real estate adventure, Bezos took another significant step in his personal life when he proposed to his girlfriend, Lauren Sánchez, in late May. Friends close to the couple expressed their excitement, describing it as “her dream come true.” Bezos and Sánchez made their relationship public in 2019, following Bezos’ divorce from his wife of 25 years, MacKenzie. Miami is now poised to be the backdrop for the next chapter in Bezos’ extraordinary journey.

Source: People

Italian Real Estate Market in September 2023: Milan Takes the Lead with Over €5,300 per Square Meter (Immobiliare.it)

By Columbus International,3 October 2023

In September 2023, the average cost per square meter to purchase a house in Italy stands at €2,122. However, if we consider Milan, prices soar to over €5,300 per square meter.

These figures have been revealed by the monthly Observatory of the Italian real estate market by Immobiliare.it Insights, pertaining to property transactions in September 2023. There are no significant variations in house sale prices across the entire national territory.

The national difference is 0.2% compared to the previous month (3.2% compared to the same period last year), with a slight variation between the Northern regions (0.6%) and the Central-Islands area (-0.2% and -0.1%). The average price per square meter on a national level reflects vastly different scenarios. While in the Central-Northern regions, prices comfortably exceed €2,000 per square meter, in the South and Islands, they stabilize between €1,300 and €1,500.

In August, there was a nearly 9% drop in real estate supply in all regions, particularly in the Northwest and Center with a -10%. In September, the situation changed drastically, with a national average growth of over 9.1%. The areas that had experienced a significant decline the previous month are the ones that show the most recovery: Northwest (+10.5%) and Center (+10.1%), followed by the South (+8.1%), Northeast (+6.9%), and Islands (+6.5%). A similar trend is observed in demand: in August, due to seasonality, there was a sharp decline, while in September, there is a recovery, with peaks of 25.2% in the Northwest. The national average surpasses 20%, precisely 21.3%.

Demand is growing everywhere, albeit less markedly in the Islands, where it stands at 8.2%. Average rental prices show a trend towards stability, with slight increases in both major cities (+0.4%, at €3,250 per square meter) and smaller centers (+0.2%, at €1,797 per square meter) – the latter being those with fewer than 250,000 inhabitants. The most noticeable aspect emerges when analyzing demand and supply: there is a clear difference between major cities and smaller centers. In cities, there has been a rush in sales contracts, with a demand growth of 33.4% compared to August, although there is a decline of -4.1% compared to the same period last year. In smaller centers, there is an increase of 11.6% (-0.3% compared to September 2022). Simultaneously, supply has also expanded: +20.8% in centers with over 250,000 inhabitants and +6.4% in those below this threshold.

Milan reaffirms itself as the most expensive city in Italy. To purchase a property, one would need €5,301 per square meter. This is the first time that the €5,300 threshold has been surpassed, given that in August, the price was €5,271 per square meter. Bolzano secures the second spot with €4,657 per square meter, slightly lower than the €4,684 per square meter in August, followed by Florence with €4,125 per square meter (compared to €4,130 in August). Among provincial capitals, Catanzaro is the least expensive, at €988 per square meter.

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 €

A million-dollar deal: Campari purchases headquarters in Milan from Bnp. All the latest information here (source: Sole24Ore)

Skyrocketing Demand: Luxury Real Estate Surges 9% as Global Buyers Flock In

Jeff Bezos’ bold move: Miami beckons as he leaves Seattle behind (Source: People)

Italian Real Estate Market in September 2023: Milan Takes the Lead with Over €5,300 per Square Meter (Immobiliare.it)

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

Columbus international

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