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According to the study, presented yesterday by Sigest, within the next 4 years the current stock of available new homes will be sold, as sales exceed new build within Milan’s inner ring road.
During the presentation Enzo Albanese explained that there are many, mostly international investors, fighting over the very limited number of key areas where new projects can be implemented.
Since the growing demand for quality properties exceeds supply, this could in theory could cause further increases in property values, which grew ‘only’ slightly in the area of analysis : in the Centre of Milan and the Bastioni area, prices have seen increases of 6% and 4% respectively, remaining fundamentally stable in the area within the Ringroad (1% growth).
Figures show that Milan could end 2019 with around 25,000 real estate transactions closed (new and used units), exceeding the peak of the 2004-2006 period and representing a transactional volume totalling around € 8.5 billion.
