Abitare Co: new construction is the fastest-growing market in Naples

30 January, Il Denaro

The Naples residential market closed 2019 with 5,487 transactions, reporting a -1% decline for the same period of the previous year. Despite that, sales for new houses in Naples grew by 4.8% from 2018, reporting a 0.5% increase in prices (3,950 euro/Sq m). However, new constructions represent only 5.5% of the market, and prices are 35% higher than dated properties.

Source: Il Denaro

Translator: Cristina Ambrosi

Abitare.co: the demand is growing faster than the offer on the residential market

18 December, Il Sole 24 Ore

In its latest analysis of the property market in the main Italian cities (Rome, Milan, Turin, Naples, Genova, Florence, Bologna and Palermo), Abitare.co reports that transactions in 2019 have increased by 5.9% from 2018, while prices have grown by 2.2%, setting at an average of 4,470 euro/Sq m. New construction represents 9.8% of the total offer, reaching 17.3% in Milan, Italy’s most dynamic market.

Prices have increased in all the cities, although with different paces. Milan and Bologna reported the best results, respectively +6.6% and +3.5%, while the price increase in Genoa, Naples and Rome was below 1%.

Concerning average prices, the most expensive cities are Milan and Rome, respectively with 5,600 and 5,160 euro/Sq m; followed by Florence (4,950), Turin (4,600), Genoa (4,480), Bologna (4,000), Naples (3,950) and Palermo (3,030).

The outlook for next year is positive, although the gap between Milan and the rest of the country will keep widening. After all, Milan alone concentrates 90% of the capitals for new constructions.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Milan: the relentless growth of new construction

04 August, Corriere della Sera

Nomisma reports that Milan had attracted residential investments for 54% (2.8 billion euro) in the first half of the year. In the city, prices for new construction rose by 1.8%, against the 0.2% in the rest of the country, while dated properties increased by 1.9%, against the 0.3% of the national average. Properties cost 40% more than in the other Italian cities; rents are 35% more expensive.

What drives Milan residential market is the resuming of new construction, as seen in Porta Nuova and CityLife. According to Abitare.Co, houses currently under construction represent 22% of the whole market.

Social housing is another critical theme for the city. The requalification plan of the seven railway yards, covering a surface of 204 thousand Sqm, implies the implementation of affordable housing for 2,600 units. The demand, however, is way higher.

Source: Corriere della Sera

Translator: Cristina Ambrosi

New houses: prices +2.9%, demand +4.2%. Milan and Bologna report the best performance

29 July, Il Sole 24 Ore

Abitare Co. reports that the new construction market is in good health. In the first half of the year, the demand (+4.2%), the offer (+1.6%) and the prices (+2.6%) had all grown. New houses represent 12% of the totality of the property market.

Milan is the most dynamic city in terms of sales (+8.3%) and offer (22.3% of the total), while Bologna is the first concerning prices (+4.8). Regarding sales, Milan is followed by Bologna (+7.5%), Rome (+5.7%), Genoa (+3.8%), Naples (+3.5%), Turin (+1.6%), Palermo (+1.4%) and Florence (+1.4%).

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Palazzo Poste in Verona to be converted into apartments by Bain Capital

27 June, VeronaSettegiorni

The property is owned by Bain Capital through its fund Aquileia Capital Services. The real estate brokerage firm Abitare Co. will take care of the reconversion together with Milano Contract District, the first interior design platform. The building will be reconverted into 20 high-end apartments featuring a concierge, a spa and a gym, a coworking space and a food delivery service.

Source: VeronaSettegiorni

Translator: Cristina Ambrosi

Abitare.Co: absorption between 70% and 90% for new houses in Milan

03 April, Il Sole 24 Ore

The demand for houses in Milan increased by 9.7% in the first quarter of 2019 compared to the same period of the previous year, while property prices grew by 9.8% (10,150 euro/Sq m), reporting an absorption rate close to 90%. The western part of the city is the fastest-growing area, thanks to the requalification of Porta Nuova, Porta Volta and CityLife.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

How much does a house in Milan cost? Prices on the rise and quick deals. High demand for new houses

24 January, Corriere della Sera

House buyers in Milan are demanding. They’re hard to satisfy. They want customised newly-constructed apartments. As a result, the most recent real estate projects are leading sales, according to a survey by Abitare Co. Considering also urban renewal projects and house extensions, the percentage of new houses is very high, more than in the other Italian cities (25% of the total market). Prices for this segment are growing at double the speed of the other properties of the sector (+2.2%), houses sell extremely quickly (3.7 months on average). Besides, sales in the last years rose by 14.5% (in comparison with the 1.1% increase in the domestic market). “Milan is the first real estate market in Italy, and the outlook for 2019 is positive. We must be cautious, considering the recession threat, but this city is a different story altogether”, commented Alessandro Ghisolfi from the Abitare Co. research centre.

“Milan is today in the same condition as London was ten years ago. The city has a lot of potential, and it’s a great investment opportunity also for those who do not intend to move to live in the property”, confirmed Sigest. Also Scenari da Immobiliari is cautiously optimistic. Milan anticipates the economic trends and differentiates more and more its neighbourhoods: these are the reasons for its growth. The requalification, except for the areas along the new M4 metro line (especially Viale Indipendenza and Piazza Vetra), mostly concerns the artsiest neighbourhoods (some streets in Lambrate) as well as those with a lively nightlife (Brera). On the overall, Città Universitaria (the student district) reported the best performance. It’s the sign that students are driving the sector for what concerns sales and not only rents, as we can see in the Bovisa area and in the new Bocconi campus.

Concerning new construction, Ghisolfi continues, “the offer is still limited in comparison with the potential demand. This resulted in quicker sales, something that would have been impossible a couple of years ago”. For instance, between Via Tacito and Viale Umbria, the 210 apartments of the Milano City Village project implemented by the listed company AbitareIn (which will be ready only in 2021), have already sold out in a couple of months, way earlier than expected, for a value of 78 million euro. According to Sigest, “if we continue in this way, the supply Milan might not be able to satisfy the demand in five years”.

Source: Corriere della Sera

Translator: Cristina Ambrosi

Sales for new construction increased by 9.4% in cities. Prices rose by 1.3%

17 December, Il Sole 24 Ore

According to the data published by Abitare Co., the most dynamic city concerning new properties is Naples with transactions grown by 15.2%, followed by Milan (+14.5%), Rome (+13%), Turin (+11.3%) and Bologna (+9.7%). The average duration to sell a property has reduced from 6.5 to 4.9 months.

Source: Il Sole 24 Ore

Translator: Cristina Ambrosi

Abitare Co: new properties represent 12% of the market and they sell quicker

12 December, Re Quadro

In the first nine months of 2018, the residential property market in the main Italian cities reported positive results (+2.3% from 2017). New houses registered the biggest growth (+9.4%), and they drove the offer (+2%), representing 12% of the residential market in 2018. This result, however, spans from 4.4% in Palermo to 25% of Milan. Moreover, property prices grew only for this segment (+1.3%), as dated houses or to be renovated closed with -0.2%. Concerning the time to sell, new properties sell quicker (4.9 months against 6.5). In big cities such as Rome and Milan, there is particular attention for customised houses, featuring innovative services such as a personal architect, a concierge, or a personal chef.

The figures are taken for the latest report by Abitare Co. The real estate broker focuses on new housing. The company analysed the market for new houses in the main Italian cities (Rome, Milan, Turin, Naples, Genoa, Florence, Bologna and Palermo).

According to Abitare Co., the most dynamic city in 2018 has been Naples, with an increase in the transactions for new houses equal to +15.2%, followed by Milan (+14.5%), Rome (+13%), Turin (+11.3%) and Bologna (+9.7%). Sales have grown, although at a more modest rate, also in Genoa (+5.5%), Florence (+3.2%) and Palermo (+2.6%).

Concerning the offer, Milan (+5.4%) and Rome (+3.2%) reported the biggest growth. The two cities also show the biggest quota of new houses on the total residential market, respectively with 25% and 16%. On the total, new houses represented 13.5% in Bologna, 12.3% in Turin, 9.7% in Florence, 8.1% in Naples, 6.5% in Genoa and 4.4% in Palermo.

The positive trend of new houses also reflects on prices, having increased on average by 1.3% from 2017, while Milan, once again the most dynamic city, reported +3.3%.

The average prices per square metre for a new property is 4,500 euro. The most expensive cities are Milan with €6,750 (+3.3% from 2017) and Rome with €6,300 (+1.2%), followed by Florence with €4,800 (+0.8%), Turin with €4,450 (+2.3%), Naples with €3,800 (+1.2%), Bologna with €3,700 (+0.7%), Genoa with €3,300 (+0.6%) and Palermo with €2,900 (+0.4%).

In comparison with dated properties, prices for new houses are by 24% higher, with peaks recorded in Palermo (28%). To sell a new house, it generally takes 4.9 months (6.5 months for a dated property). Once again, Milan is the most active with 3.7 months.

What’s the outlook for the next months? The forecasts are positive. Alessandro Ghisolfi from Abitare Co. said: “The residential real estate market for new constriction has shown a positive trend in 2018. Compared to the offer, the demand is still underrated, favouring the reduction of the time it takes to sell properties, something that would have been impossible a couple of years ago. The trend will continue being positive in 2019, although we must be cautious, considering the current economic situation”.

Source: Re Quadro

Translator: Cristina Ambrosi