Milan, rising house prices: more and more purchases and fewer houses for sale

Homes for sale are falling and prices in Milan are rising accordingly. It is the photograph of the real estate market in the shadow of the Madonnina taken by the Milan Chamber of Commerce. More specifically, the figure emerges from the sentiment of the first quarter of 2019 conducted by Fimaa Milano Monza and Brianza, the college of estate agents and mediation agents who contacted the associated operators. It is a "race to the brick": according to the figures reported in the Confcommercio note, the houses for sale have decreased by 18% while the discounts applied during the negotiation phase (up to 10% according to the 89 of the interviewees) and are reduced average sales times (for 61% of respondents). The types of housing most in demand are two-room and three-room apartments, while there is a renewed interest in the studios. The situation in the hinterland Municipalities in the Milan metropolitan area are catching up with the recovery trend in Milan, especially in the sharp decline in supply (-20.6% compared to the first quarter of 2018) with sales prices increasing (with a forecast of stability) and the reduction of average sales times. In the Milan metropolitan area, the three-room apartment is the most requested apartment; it also improves the perception of the four-room apartment, considered more salable in comparison with three years ago. Real estate market: production activities, shops and offices The same document also contains indications on the commercial real estate market in Milan. Regarding the offices there is a positive perception of the sales for the good demand, but above all for the reduction of the products on offer. According to Confcommercio, prices for the next few months will be marked by stability, while rent guns will increase. Less optimism on the part of operators regarding shops. Prices are no longer in decline, but we cannot yet speak of a trend reversal. On the other hand, the rental market is better: increasing demand and tendentially downward reduction; slight increase in rents. Performance improving in the quantities traded, but there is still no full recovery according to experts for industrial real estate. The locations, on the other hand, would have reached the minimum and should not fall any more than this.