Sigest, residential market: sales in new developments up by 32%

A survey carried out by Sigest has confirmed the excitement around Milan’s residential real estate market: 26 new schemes were launched over the course of a year and marketing on 38 projects was completed and, for the first time since 2014, sales on two initiatives started and were completed within just 12 months.

Class A schemes account for 76% of all projects.

In 2018, 1233 homes were sold, a 32% increase compared to 2017. Of these, 53% were already on the marketplace in 2017, whereas 47% were developed over the last 12 months.

Today, clients in Milan are focusing on historical locations and alternative, fashionable locations and on first class, ready-to-use solutions.

The units sold over the last 12 months are concentrated, in 73% of cases, within the Ring road area, in 13% of cases within the Bastioni area, and in 9% of cases in the Centre. In the three areas, the increase in units sold compared to the last survey saw the Bastioni in the lead (+85%), followed by the Centre (+32%) and by the Ring road area (26%).

With regard to sales prices, the survey shows stability in the Centre and an increase in prices in both the Bastioni (+10%) and Ring road (about +5%) areas