(Visited 90 times, 1 visits today)
(Visited 90 times, 1 visits today)

Milan. Purchasing a garage is getting expensive

06 July, Libero Milano

No good news for drivers living in Milan. While in the rest of the country prices for garages continue to drop – although slightly -, they’ve been consistently growing in Milan. Due to the scarcity of public parking lots and the traffic restrictions in the name of “green mobility”, the market of private garages has boomed, although bargains are rare, especially for families. It’s the hard law of offer and demand. The trend has also been analysed by Tecnocasa, one of the biggest real estate portals. In the second part of 2017, the main Italian cities registered a reduction of the costs for parking spaces equal to 0.3%, while the rates grew by 0.1% in Milan, by 0,9% in the case of parking spaces.

Whether you buy a garage to stop paying for parking or just for investment, it doesn’t matter: the prices rise month after month. The trend varies according to the area of Milan. In the city centre, one can hardly find a garage for less than 40 thousand euro. Prices decrease to 30 thousand around Porta Romana. The most expensive neighbourhoods are De Angeli and Bande Nere, where residents spend up to 50 thousand euro. It doesn’t get any better for the people living in Via Sarpi (40 thousand), Morgani (45 thousand), and Solari (42 thousand). These latter have also to pass through the construction site for the new blue line metro station before being able to park their car. It’s not easy. Same story, and same prices, for the residents of Corso Vercelli (33 thousand euro), Domodossola (40 thousand), and Porta Venezia (45 thousand). The luckiest ones are the people living in Bicocca, who spend “only” 15 thousand euro for a garage. There are only a few opportunities to own a garage spending under 20 thousand euro: Ciminiano and Crescenzago (18 thousand), San Siro (16 thousand), and Forze Armate (17 thousand).

And yet, one needs to exit the internal ring road to save some money. In Bergamo, the average prices are around 25 thousand euro (only Città Alta reports the same peaks of Milan, with prices up to 40 thousand euro for a garage). In Brescia, only Viale Venezia has prices amounting to 20 thousand euro for a covered parking space, while in the other areas prices range between 15 and 10 thousand euro. Same situation in Como: rates in the centre reach 30 thousand euro, but in Muggio and Albate it only takes 15 thousand euro. The average price in Cremona is 13 thousand euro, same as Lecco, 10 thousand for Mantua, 20 thousand for Monza, 11 thousand for Pavia, and 17 thousand for Varese. The situation is different in the provinces, where the market is more regulated.

Source: Libero Milano

Translator: Cristina Ambrosi