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Good performance of house rentals in Lombardy
11 November, Brescia oggi
It’s a great moment for house rentals, while residential transactions are struggling. This is the situation of Lombardy’s residential market concerning the province capitals reported by the June-September 2018 real estate survey by Immobiliare.it.
The portal shows that the requested prices for rentals and sales have been substantially stable. Rents have increased by 0.4% in three months, while the values of properties for sale have decreased by 0.1%. If we compare the values recorded in September with those for the same period of 2017, the results of prices are rather positive, with rents increased on average by 2.9%, while rates for sales decreased by 0.6%. The third quarter of 2018 reported a growth for rentals in the cities of Lombardy. Sondrio recorded the highest increase: rents have increased by 4.5% in three months in Valtellina. Cremona has grown by 2%, while Milan and Como are the most expensive cities with a 5% increase in one year.
The situation of transactions is more complex. While prices in the region are stable, some cities registered negative variations. Mantua reported the sharpest decreased (2.3%), followed by Lecco (-1.5%) and Bergamo (-1.3%). Brescia reported a positive performance on the overall. The yearly and the biannual variations are positive (+2.1%). The growth was more contained in the last quarter (0.4%).
In September, the average requested price to buy a property in Lombardy was set at 1,982 euro/Sq m. This value is very distant to that reported by Milan, while the price reaches 3,273 euro/Sq m. Due to the proximity to Milan, prices are high in Como (2,181 euro/Sq m) and Monza (2,107 euro/Sq m), ranking respectively second and third. Rates are lower in the other cities. The average requested price in Brescia is 1,691 euro/Sq m. Cremona is the cheapest province capital: 1,163 euro/Sq m, having decreased by 3.5% on yearly basis.
Source: Brescia Oggi
Translator: Cristina Ambrosi