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residential Market News: Spanish Real Estate Intelligence

Porta Lodovica and Scalo Romana are the best areas where to buy a house in Milan
02 October, La Repubblica Scenari Immobiliari ranked Porta Lodovica and Porta Vigentina as the best neighbourhoods in Milan, while Porta Romana is the area with the best quality of life.  According to the study, it’s mostly the amenities present in the area that make the difference, such as shops, public transport and parks easily reachable with a 15-minute walk, along with hospitals, medical clinics and schools. After the three-months lockdown, the Milan residential market has shown signals of recovery, although the property transactions for 2020 will be significantly lower than expected (-15% from 2019). Despite that, prices recorded only a 0.5% reduction. Source: La Repubblica Translator: Cristina Ambrosi  
Demand for apartment rentals drops as offer increases
30 September, Milano Finanza Immobiliare.it and Mioaffitto.it report a general increase in the availability of apartments for rent in the period between March and September, with Milan reporting a 68.7% increase in the offer against the national average of+14.2%. Although the demand has generally dropped in the whole country (-13.2%), prices have not reported any significant variation, as landlords expect the market to recoup soon. As a result, the rent of a two-roomed apartment costs on average 830 euro a month. Source: Milano Finanza Translator: Cristina Ambrosi
Milan: new skyscrapers in the pipeline
14 September, Milano Da Vedere Construction activities seem to have restarted in Milan after the lockdown.  The Park Towers, 77 and 55 metres high, will rise in a requalified industrial area comprised between Udine and Cimiano, Milan, with view on Lambro park. The towers will consist of 130 apartments plus a 5,000 Sq m shared garden and will be completed by 2023. Torre Milano will rise near Via Melchiorre Gioia, a residential development for about one hundred apartments. By April 2022, East Uptown (90 m) will be completed in Cascina Merlata. There are also plans for the construction of student halls (65 m) near the Greco rail yard. The tower Nido Verticale (Vertical Nest), 125 m high, is currently under construction in Porta Nuova using innovative materials such as wood and glass. Finally, the construction of Portico in CityLife will start in 2021 and is expected to finish in 2023: two connected buildings accommodating offices and a public space, as well as a hotel and a pool on the rooftop. Source: Milano Da Vedere Translator: Cristina Ambrosi