The prestigious areas are a magnet for a group of Milanese and foreigners without budget problems. Gabetti Agency: “The problem is the scarcity of the offer, especially in city center, compared to the demand”.

In Milan, which has exceeded 1.4 million residents and continues to attract those who come to study and work, Palazzo Marino has set a goal for the future: to build homes, especially to rent, at affordable prices for young people and families who, with a “crazy” market, today cannot even approach. This is the hunger that the junta of Beppe Sala wants to appease with the new urban plan.

Yet this is also the “increasingly lively and European city, the ace catcher”, to say it with Fabio Guglielmi, Gabetti Agency’s managing director, which has become a magnet for another segment of the population that has no budget problems. Because, now, even up there, in the penthouses that represent the most coveted preys of the luxury home market, at these latitudes “the problem is the scarcity of supply, especially in the center with respect to demand”. And to explain it, Guglielmi gives an example: “We have a property in via Dante that will be converted into houses that will start at € 14,000 per square meter. It is a case that represents all the needs, but we have not yet opened sales and there is already a database that exceeds the offer by 30 times “.

This is again the evidence that Milan goes at different speeds. The Milan of “prestigious properties”. We are talking, explains Guglielmi, of houses “worth at least a million euros”, with a rod per square meter which, on average, “goes from 8 thousand to 10 thousand euros” for a used apartment, “from 10 thousand upwards” for a new one. Homes for a few, of course. But not so much. Not here, at least, in a Milanese market that, compared to other cities, is racing and for the luxury sector, in the last half of 2019 it has marked increasing values both as a number of sales and as prices, retouched by a further 1.2 percent compared to the first part of the year. “And growth will continue for at least the next two years.” These are the results of a report prepared by the Gabetti research office on Santandrea Luxury Houses data in collaboration with BVA Doxa. This is how it emerges that the most requested areas are Brera and the historic center, “where interest in investments also comes from all over Italy”.

The object of desire: a house with these addresses around 180-230 square meters, with three bedrooms, new or renovated, with parking space and terrace. The prices range from a minimum of 7,800 euros for the center and Magenta-Pagano-Castello to a maximum of 14 thousand euros per square meter of the Quadrilatero. This is the most expensive area. Prices that still rise for individual buildings such as the Bosco Verticale where you end up around “20 thousand euros per square meter”. But the survey says potential buyers are willing to spend even a 20 percent more not only for conquering a high floor and double-triple exposure, but also for “security” of a neighborhood, energy efficiency and services. Because now that counts too: the 24-hour concierge, of course, but also being able to live in buildings with spaces such as gyms or coworking spaces.

17th february 2020
Alessia Gallione