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Milan: the Aler properties are for auction

24 August, Libero Milano

Aler sold houses in Milan from the 1st January to 28th June have been 204, including some properties in the city centre, from two-bedroom apartments in Via Pascoli, the elegant neighbourhood in Città Studi, to 70 Sq m houses in Viale Tibaldi.

The Aler sales strategy proves to be successful: 19 million euro from the beginning of the year. The earnings will be re-invested in the maintenance of public housing estate. The regional housing authority doesn’t only own apartment blocks in council estates, it also has hundreds of apartments in privately-owned buildings. The properties aren’t currently let and have never been published in any public tender for their assignment to a tenant; therefore, they represent a cost for the company. Better sell them and use the proceeds from the sales to carry out maintenance works on the rented apartments.

Sales are announced generally every month. The last one was on 28th June and saw the adjudication of 33 apartments earning 3.7 million euro, one million more than the auction base price. The auction concerned semi-central areas and suburbs, as well as residential neighbourhoods and city outskirts.

The list

The locations range from Affori to Viale Argonne, from Ticinese to Bonola. The common element is the very low prices compared to the market ones. Perfect for those who want to invest in the Milan property market. On 28th June, two apartments in Via Pascoli were put for auction with a starting price respectively of 62 thousand and 98 thousand euro and were sold at 161 and 224 thousand euro. The next sale is scheduled for 27th September for 43 properties distributed all over the city. Some of them are in the hinterland, namely the apartments in San Donato Milanese, Cesano Boscone and Cologno Monzese. The auctions are included in Aler recovery plan in conformity with the regional regulation introduced by the Region of Lombardy in 2014 for the divestiture of about 10 thousand properties of the company, including commercial spaces, garages and apartments that are too small to be out for auction.

The recovery plan

Aler has three objectives: facilitating the purchases with particularly convenient prices, achieving a more efficient management of its assets, incentivising the sales of the apartments in privately-owned buildings.

In the meanwhile, the company is also selling the rents apartments to their tenants at particularly convenient prices.

Among the properties on sales, there is also a whole building in Via Andrea Costa 20 in the Lulli area which was built in 1911 by Giannino Ferrini. The building used to accommodate the Aler offices, but it’s possible to convert into a residential property. The price for the two-storey building developing on a 500 Sq m surface is set at 1.8 million euro.

Source: Libero Milano

Translator: Cristina Ambrosi

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