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residential Market News: Spanish Real Estate Intelligence

Real estate: how residential values depreciated in ten years
08 October, Corriere della Sera Fiaip analysed property prices in Rome, Milan, Turin and Naples to see how they had decreased in the last ten years. In Rome, the average decline was -21%. Campo Marzio is the area that reported the best results, with +11.4%, while the worst were Cesano and San Vittorino (-51.9%). Milan performed better, reporting an average decrease of -4.8%. The best results were recorded in the area around Corso Garibaldi, where prices increased by 20%, while the sharpest decline was in Piazza Duomo and Piazza Cordusio (-19.4%). Finally, property prices decreased on average by 30% in Turin and by 28.7% in Naples. Source: Corriere della Sera Translator: Cristina Ambrosi
 
Milan: the old Borletti factory to be converted into high-end apartments
07 October, Il Sole 24 Ore The former Borletti factory in Via Cecchi 18, Milan, will be converted into houses by Al.Si.Co., with the collaboration of Dfa Partners, for the requalification part, and of Ag&P Greenscape, in charge of the green spaces. The completion of the project is expected by 2022. The liberty-style building will be converted into 100 class-A residential units of different sizes, from 40 to 400 Sq m. The residential complex will feature a concierge service, a gym and a wellness area, and multifunctional common space. From an architectural point of view, the aim is to preserve the identity of the building. Source: Il Sole 24 Ore Translator: Cristina Ambrosi
 
Ubs: Eurozone at risk of a property bubble. Milan is the best bet
01 October, Il Sole 24 Ore The Ubs Global Real Estate Bubble Index for 2019, analysing the residential property prices of 24 big cities around the world, reported that Munich is the city with the highest risk. Among the cities in the Eurozone, Amsterdam, Frankfurt and Paris are also overrated. The bubble is fuelled by the low interest rates, favouring properties purchases. Milan offers the best investment opportunities in Europe, as prices had risen only moderately. House prices, in fact, are the same as in 2007, while the quality of the offered properties got better. Source: Il Sole 24 Ore Translator: Cristina Ambrosi