30 October, L’Economia
Now it’s possible to have the prices of properties in Italy on your phone. With two advantages. One is that the service is free, the second is that the figures come from Omi, the Revenue Office observatory for real estate. This is obviously an estimate referring to a homogeneous market of a certain area and therefore they don’t replace an appraisal done by an expert. This has, anyway, to take these figures into account, should he has to carry out an appraisal for a litigation or to define the starting price of a property to put on auction. The prices will become the base for determining the value of the properties for tax purposes with the future Land Registry Office reform.
How it works
Omi, thanks to the digitalisation of notary deeds and the registration of lease contracts, after a long period of testing, can now update the prices in short time and it has already published the figures concerning the first semester of 2017. For what concerns Milan, the city has been divided into 40 areas. For the four types taken into consideration here, we’ve listed the five most expensive areas and the five least expensive ones, adding the corresponding monthly rents.
In reality, the analysis by Omi is more articulate and it considers also the conditions of the property. To simplify here, we have considered here only properties in good conditions. The results are not surprising since the areas around Piazza San Babila and Largo Cairoli have always been the most expensive. The highest prices appear though lower than the highest transactions, as in the Quadrilatero 21 thousand euro per Sq m seem to not be enough, that means over 2 million for 100 Sq m of a shop. It’s possible to access the data on the Revenue Office website (www.agenziaentrate.gov.it) and check the section reserved to registered users (the details for the digital 730 are necessary) and select the services of the Observatory concerning properties and choose the city of interest and download the prices.
Who doesn’t need to do a statistics reports but want to know the indicative prices of a property in Italy, there is another interesting mobile tool not needing registration. By going to http://m.geopoi.it/php/mobileOMI/index.php, if the device is enabled for geolocalisation, the user will have access to the map of the place in Italy he’s at the moment. In any case, there is the option to activate the search by address. Once found on the map, it’s possible to click and isolate the interested area. By clicking again on the area, the selection for prices of residential and non-residential properties will appear.
Translator: Cristina Ambrosi