Milan is driving the recovery of the Italian residential real estate sector, which, even though it’s still far away from the picks reached in 2006 and 2007, is starting to give signals of awakening. The figures from the Revenue Agency are proving it, and in 2016 it certified an increase of 20.3% of the transactions, and Nomisma estimates for the current year an additional increase of 6.9%, bound to consolidate in 2018 and 2019. And even if Italy remains at the very bottom in Europe for this industry, Milan is going at a totally different pace, thanks especially to the luxury residential properties.
It has been said at the first “City Trend Overview” organized by the Milano Contract District (Mcd), the design district for the real estate that puts together several interior design brands along with professionals from the consulting services, starting from its 1,700 Sq m showroom in the centre of Milan.
According to the report, the Lombard city confirms to be the most attractive and dynamic Italian city in the real estate scene: it has registered lately a leap in the investments both domestic (+31.4%) and international (+41.6%), as shown in the report from Aspesi, the national association for developers.
The driving force consists of the luxury residences, which register positive signals in the number of sales, as well as in the amounts of profits, as shown by Halldis, a company specialised in short term rentals.
However, in order to push the real estate market, in particular the high-end segment, offering a good apartment nowadays is no longer enough, Lorenzo Pascucci, Mcd general manager, explains: “Today in order to build a residential product it has become essential pairing the property on offer with exclusive sales services, capable of stimulating first the demand and the requirements of the residence, and then to assist with the choice”. Even more in a country like Italy, where the possibilities to build new properties are limited and therefore a good part of the market depends and will depend, on the requalification and promotion of the existing properties.
Tools like “Customer Experience” are becoming increasingly important, translating into services able to offer to customers more and more complete and tailor-made “packages”, delivering in this way “turn-key” apartments. This is indeed the strategy adopted by Mcd, explains Pascucci, which has 40 professionals working in the real estate world and it currently operates in Milan in 47 active building sites, among which 90 apartments within the project CityLife.