Milan: the new real estate trends in response to the pandemic

The COVID-19 pandemic has also blocked a dynamic and ever-expanding city like Milan, but now that finally the dark times of lockdowns and red zones seem to be behind us, it seems the time has come to get back into gear and start again at great.

This is in fact the forecast of the independent research institute Scenari Immobiliari, which has created a report entitled “A new Milan” in collaboration with Risanamento SPA, relating to the transformations of the territory into the city. The president of Scenari Immobiliari Mario Breglia, declared that the pandemic broke the course of events, and the city “of happy hours and glamor had to take a bath of humility, finding itself more fragile and bringing poverty even to the middle classes. “.

All this, of course, has an impact on the city’s real estate assets, and consequently on the new market trends. According to the survey, in fact, the neighborhoods and neighborhood services have risen to new life. Furthermore, the inhabitants have not moved away from the city, on the contrary, the migratory balance is positive. It was thought it could decrease due to the lack of university students, but at the same time innovative startups and the third sector have increased.

The new trends in Milan after the coronavirus

The decline in residential sales recorded in Milan in 2020 is 15.4%, a figure in line with the rest of the large Italian cities. But 2021 started with optimism, and the rebound has already begun. In the municipality of Milan it is estimated that 2021 will close with + 20.4% more real estate transactions compared to the previous year, rising to 26,500, while in 2022 the growth will further strengthen, reaching 27,700 sales.

Numbers are also growing for the metropolitan city: from -7.1% in 2020, to + 3.8% in 2021, and to an estimated 36,600 real estate transactions in 2022.

But what are people in Milan looking for today when it comes to real estate? According to the report by Scenari Immobiliari, the demand for new buildings is around 50,000 new homes, which will have to be built according to the livability criteria that emerged so thoroughly during the pandemic. Essentially the house must be bright, and must have an outdoor space, garden or terrace.

At the same time, the trend for offices will be to be more spacious: the new demand is in fact equal to 650 thousand square meters, to give each worker an even greater number of services.

Real estate developments in Milan

According to estimates, these development potentials will be able to provide a home for 190,000 people, equal to about 85,000 families. The side effect is that it will be possible to create as many as 75,000 jobs.

The impact on the real estate market is striking: 37 billion euros, 70% of which concentrated in the residential sector, while the remaining 30% divided between offices and other properties for non-residential use.

According to Davide Albertini Petroni, director of Risanamento SPA, who commissioned the study together with Scenari Immobiliari, the real estate will be able to “relaunch Milan and its metropolitan area”, never before at the center of “talents, resources and companies”. . Fortunately, the city has all the elements on its side that serve to develop a new metropolitan model, ready to meet the new needs of living.

Finally, according to the director of Scenari Immobiliari Francesca Zirnstein, Milan is transforming itself into a city of neighborhoods, as citizens have realized that it is important to reach services in a short time, without the need to move. This city model makes moving a choice and not an obligation, foreseeing a trend towards “near working” for the next few years, as an alternative to the canonical smart working, where outdoor spaces will be shared by workers, who will be able to work remotely near your home.

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