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Singles drive the Milan property market

04 September, Idealista

Young adults in Milan: what is their favourite accommodation? Tecnocasa tried to answer this question, analysing the various inquiries received by the agencies of the group.

According to the analysis by Tecnocasa, of the “under 44” looking for accommodation in Milan in the first semester of 2018, 73.3% choose to buy, while 26.7% opt for renting. More in detail, those who are renting are mostly people moving to Milan for work reasons, corresponding to 66.2% of the tenants.

The favourite property type is the one-bedroom apartment, preferred by buyers as well as by tenants. Such properties offer rather affordable prices or rents, suiting well the needs of people aged below 44 years. The second choice is represented by two-bedroom apartments for those who are buying, whereas those who are renting prefer studio apartments.

Which is the situation of the under-44 looking to buy a house? According to Tecnocasa, they’re mostly couples or families (61.3% of the inquiries), while 38.7% is represented by singles, which constitute 64.2% of the people who rent.

In which areas do transactions and rents concentrate? In the Bovisa-Sempione macro area in both cases. For buyers, the Vercelli-Lorenteggio macro area (especially the outskirts) are the buyers’ second choice, while tenants prefer Navigli-Famagosta. All these areas include student neighbourhoods or areas that have been recently requalified (Porta Nuova and City Life), but that are still offering affordable prices, representing a valid solution for those people who moved out of the city seeking lower rates.

Source: Idealista

Translator: Cristina Ambrosi

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