They had been on the market for some time, perhaps due to the crisis they could not find a buyer worthy of the name. But times are changing, and as always in Milan they do it faster than ever. That’s why three dream homes were sold within a few months at very high prices. All three transactions were managed by Barbara Magro and her Luxury Real Estate.
The million-dollar houses sold in Milan are the Mondadori villa in the Venti Settembre area, a penthouse + glass penthouse in the Porta Venezia area, and an apartment in the heart of Brera.
The three dream villas sold in Milan
Villa Mondadori is a historic Art Nouveau residence, which extends over an area of no less than 2,000 square meters, between via Venti Settembre and via Tamburini. The villa was designed by the architect Steno Sioli Legnani at the end of the 19th century, and has 15 bedrooms, 15 bathrooms, numerous lounges and even a spa area with gym. It was the home of the Del Vecchios, owners of Luxottica, then sold in 2008 to Nino Martire, a pharmaceutical magnate. Now it has been sold again, for a really not bad amount: 22 million euros.
The penthouse of Porta Venezia is the one where Salvatore Ligresti lived, very popular with politicians and heads of state: it spreads over an area of 750 square meters, with 250 square meters of terraces that allow a unique view of Milan from above . The price? 8 million euros.
Finally, the apartment in the Brera area is located in via Cavalieri del Santo Sepolcro, and was used by none other than Ridley Scott to stay during the filming of the film House of Gucci. It is a dream home measuring 600 square meters with a private garden, sold at a price of 7.5 million euros.
Obviously, there is the utmost confidentiality about the buyers. However Barbara Magro, who was in charge of the negotiations, speaking to Corriere della Sera explained that “the high-end market has not been affected by the crisis, which as we well know has hit the middle and less well-off above all hard”. According to the real estate agent’s estimates, “for every super-luxury property that comes on the market there are at least 3 candidates making offers”.
There is therefore a high demand, but a fundamentally low supply, since those who have an asset like this do not sell it willingly. Hence the dramatic increase in prices.
Wanting to trace the identikit of the buyers of this type of property, you can bet on the historic Milanese families, who after the Covid decided to return to live in Milan from cities like New York or London.
Speaking of Covid, Barbara Magro says that during the pandemic the negotiations of luxury homes slowed down, but they never really stopped. For example, for Villa Mondadori the negotiation began in 2020, in the midst of the pandemic, and ended more than a year later. The other two prestigious homes we mentioned in this article sold in less time, but we don’t have too many details.
Now that everything is over, they are accelerating with more vigor than ever, therefore a sign that “investor confidence in Milan has never been lacking. Indeed, if possible it has grown”.
Image source: https://pixabay.com/photos/apartment-window-glass-wall-hallway-185779/