Houses in Milan, prices have risen by 40 per cent since 2013

Prices are still rising slightly in the Corso Genova-De Amicis area and stable in Solari-Sant'Agostino and Tortona-Savona. Solutions in good condition, renovated or new are holding up well, while there are difficulties for those in need of renovation as well as for ground floors and high floors without lifts for which more price management is needed. In general, there is an increase in selling times and more thinking on the part of potential buyers. Purchases are still being made by holiday home buyers, but the abundant supply is squeezing returns and inducing more reflection.
In the Savona-Tortona-Porta Genova area, prices are decidedly lower, at around 6 thousand euros per square metre. There are no major price variations in the more elegant area of Via De Amicis, Via Ariberto and Via Ausonio where, for prestigious properties, values of 7 thousand-8 thousand euros per square metre are reached with peaks of 9 thousand euros per square metre for new ones in Viale Papiniano and Via Ausonio. On the rental market, rents are rising due to the low supply. For a furnished two-room apartment, an average of one thousand to one thousand euro per month is spent, and transitory contracts are mainly stipulated.

The Vercelli-Lorenteggio macro-area follows with a 1.6% price increase as a result of the Lorenteggio-Frattini and Tolstoj districts. In the Lorenteggio-Frattini area, types requiring renovation, for which it takes longer to conclude the sale, almost always at lower prices, suffer most. On the contrary, solutions in good and excellent condition, purchased by young couples, singles and families wishing to make better purchases, are holding up. The positive influence on prices resulting from the construction of the metro seems to have ended.
Around Piazza Frattini the prices of a good used property have reached around 4 thousand euro per square metre, which is why many potential buyers are moving towards the Piazza Tirana area, where ex Aler social housing solutions prevail and houses cost 2 thousand euro per square metre with peaks of 2,500 euro per square metre. We are talking about an area that, with the future metro works for the San Cristoforo station and various new construction projects, could improve considerably. The new costs from 3500 to 4 thousand euro per square metre up to 5 thousand. Prices are lower for homes around Via Giambellino, Via Brunelleschi and Largo Scalabrini: 2700-3 thousand euros per square metre for solutions in excellent condition dating back to the 1970s. For popular types, the price drops to 2 thousand euro per square metre. In the upscale area of via Soderini, via Primaticcio and via San Gimignano, the price per square metre is € 3500-4 thousand, with peaks of € 5500 for new apartments.

House prices in the area around Tolstoy Street show a slight increase, driven by demand, which is still dynamic, and a smaller supply. Purchases and sales are divided fairly evenly between investment and first home purchases. The imminent arrival of the metro has partially affected prices. The most dynamic areas are Via Vespri Siciliani, Via Tolstoj and Via Savona. Here a good second-hand property sells for around 4,000 euro per square metre. Same prices for piazza Tripoli, via Fezzan, where there are houses built in the 1950s. There are new buildings in via Tolstoj sold at 5500 euro per square metre, in via Savona at 6500 euro per square metre.

The Lodi-Corsica macro-area followed with a 1% growth. Demand and house prices are rising in the Corso Lodi-San Luigi area, which is affected by the redevelopment work on the Porta Romana slipway and the future construction of the Olympic Village, work on which has already begun. Important luxury fashion brands will move in, including Prada, which already has its headquarters in the area. The spaces of 'Symbiosis' are almost all occupied. Seeking are investors aiming at future revaluation, families and young people working in Milan. New buildings are being constructed in Via Tacito and Via Brembo at average prices of 5,000-5500 euro per square metre. Sales times are getting longer due to increased supply and rising rates. There is also a lot of fractioning going on. A used solution trades at average prices of EUR 4,000-4500 per sqm.

In the eastern part of Milan, in the Forlanini district, prices are stable, while they are on the upswing in Ponte Lambro and Bonfadini-Ungheria. In the latter district, the reason is in the proximity to the Santa Giulia area where work is going on for the new Arena for the Winter Olympics and for a new district that will host a residential area with 3 thousand housing units, green areas, shops and recreational spaces. Popular solutions prevail, reaching as high as 3 thousand euro per square metre. Lower prices, 2 thousand euro per square metre, in the suburban district of Ponte Lambro, where many immigrants are also buying, resorting to mortgages that are not always affordable. Interest from investors, who buy for income and bare ownership, for the Forlanini-Mecenate area. The area has appeal thanks also to its proximity to Linate and Tangenziale Est.

House values decreased in the Bovisa-Sempione (-0.7%), Centrale-Gioia-Fulvio Testi (-1.6%) and Navigli Famagosta (-0.5%) macro-areas. In the former, despite the drop in values, it is worth noting the positive trend in the Bovisa district, where the realisation of the "Scalo Farini" project continues to attract investors to the area. Quotations for used property, immediately in the vicinity of the area, are around 4 thousand euros per square metre, those for new property at 5 thousand euros per square metre.
A good used property in the heart of Bovisa trades at 3800 euros per square metre. In the meantime, the 'Goccia' projects, the redevelopment of the 'Palazzo delle Poste' and the 'Mo.le.co.la' project, which will redesign the area's road system and lead to the creation of new squares and student halls of residence, are going ahead.

In the first case, the increase in prices is due to new constructions that have been placed on the market at 5 thousand euro per square metre and that, as a result, have dragged up the prices of used solutions, which are now valued at around 3 thousand euro per square metre. The area benefits from the presence of the University, the Niguarda Hospital and an important business centre. On the contrary, values are falling in the Testi-Ca' Granda district where, at the moment, there is a considerable supply of homes from the 1960s and 1980s.

In the Stazione Centrale-Gioia-Fulvio Testi macro-area, values fell by 1.6%: prices fell slightly in the Trotter and Nolo districts. Potential buyers have a smaller budget and this affects negotiations, especially if they are looking at solutions to be renovated. No.lo is still a district that attracts young couples and singles. We are talking about a small slice of the area where prices reach as high as 4,000-5,000 euro per square metre, and then fall near the Trotter park. Precotto is confirmed as the most sought-after area for the services it offers and its proximity to the underground. For a good used property, one spends around 3 thousand euros per square metre. Most of the homes date back to the 1960s and 1970s, and for a good second-hand home you can go as high as 3,500 euros per square metre. On Viale Monza and Villa San Giovanni values drop to 2800 euro per square metre. Demand for rented property is growing strongly, partly because the rise in interest rates has led to a selection on the market.

In the Città Studi-Indipendenza macro-area, prices have remained substantially stable. The most expensive area is the one around Piazzale Bacone where there are Art Nouveau buildings from the early 1900s which, in good condition, can be purchased at average prices of €6,000 per square metre with peaks of €7,000-8,000 per square metre for high floors or penthouses. Prices fall on viale Abruzzi and viale Gran Sasso where solutions from the 1970s cost on average around 5 thousand euro per square metre. Expectations linked to the redevelopment of Piazzale Loreto are leading some investors to take an interest in the square's cross-sections. For the moment, the phenomenon is still marginal.

House prices in Lambrate are falling slightly, particularly for larger sizes. The reason for this is to be found in the abundant supply in the district, since there are several new construction projects underway. New construction can go as high as EUR 7,000 per square metre. Families, young couples and investors are buying. They like the presence of the metro. The Lambrate housing stock dates back to the 1960s and 1970s, but more recent solutions from the 2000s can be found in Rubattino and cost around 3500 euro per square metre. Prices are lower in the more peripheral Ortica district, where they sell for a minimum of 2100 euros per square metre. Recently, the district's attractiveness has risen thanks to its proximity to the new Argonne metro station.

Real estate values in the Navigli-Famagosta macro-area are dropping by 0.5%: Cermenate is one of the areas in decline, although there is still good demand from families, young couples and investors. On viale Cermenate, those who are unable to access the Bocconi immediately and move beyond the ring road are buying. There are few new buildings, the latest in Piazza Agrippa at an average price of 5,000 euro per square metre. Second-hand property values range from 2800 to 3500 euro per square metre. The Torretta neighbourhood is an exception, where mainly people who are already residents are buying. There are solutions from the 1960s and solutions from the 2000s built in cooperative housing, average prices around euro 2,500 per square metre. The highest values are reached in the Pezzotti district, where a good second-hand property can be purchased at an average price of 4,000 euro per square metre.