Como, Bergamo, and Monza. Buying a house in the city centre is expensive

16 December, Libero Milano

There is the penthouse with the view of Duomo, the loft in Città Alta, and the remodelled apartment on the riverside. Budget is the only problem. But, if you want to live in the city centre, you have to make some sacrifice. Without counting the luxury of having an aperitivo in Brera, of living close to the theatre, cobbled streets and all the services just around the corner. People of Lombardy like the comfort of living in the city centre and they’re willing to pay a little more for it. Like in Milan, between Via Torino and Porta Venezia, where houses cost up to 6,538 euro per Sq m, but living close to Duomo is priceless. In terms of prices of real estate, Milan is absolutely the most expensive. It’s confirmed by a recent research by Ancsa, the national association of historical and artistic towns that has surveyed the data of real estate agencies and urban plans in the whole country. For a one-room apartment along Tevere, in Rome, the average price is 6,115 euro. Prices drop in Venice (4,290 euro) and in Bolzano (4,500). In the top 20 Italian cities, there are 4 other cities of Lombardy.

They are Monza, sixth in the chart with 3,406 euro; Como, eighth with 3,194 euro; Bergamo, ninth with 3,125 euro and Pavia, seventeenth in the chart with 2,731 euro. The volumes of properties transacted in the region are surprising. In Milan, they’re over 58 thousand (for a turnover of 36 million euro altogether), they’re nearly 5 thousand in Brianza and 2,330 in Como. Living in the city centre may not be cheap, but lease contracts are thriving. Thanks also to some superstar architects, who designed vertical forests and new generation skyscrapers, or perhaps to the appeal of the old 19th-century portici, or the shops, that concentrate in city centres. There are really few unlet properties. But there are some exceptions.

In Lecco, just to make an example, with 1,775 euro on average to sell a property in 2016, almost a half of the 2,712 properties are vacant. Prices in Brescia are set at 2,502 euro per Sq m, all the other cities are below 2,000 euro per Sq m, the cheapest city of Lombardy is Cremona: with over 12 thousand apartments and an average cost of barely 1,510 euro per Sq m. A valid alternative if you’re thinking to save some money. The situation in Lodi doesn’t differ much, just 54 euro. Prices start to rise in Sondrio (1,869 euro), Varese (1,900) and Mantua (1,970).

“The old town of Bergamo is more and more inhabited by elderly people and small families”, writes the research, “at the same time, tourism is growing. From the survey emerges, in fact, that the old town has the biggest offer for apartments for rent online”. Foreigners are plentiful in Brescia (it’s the third city in Italy with 24% more compared to the past), Varese (15.6) and Lodi (14.8), but they’re just a few in Lecco (5.9) and Sondrio (6.0). Either way, many people dream of living in the old town. A sunset on Duomo is enough to understand why.

Source: Libero Milano

Translator: Cristina Ambrosi

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