The real estate market in the first six months of 2024 Milan Almost all areas of the city recorded a steep decline in sales against a rise in prices. i Capital of Lombardy There is an ongoing housing crisis that primarily affects those, such as university students or below-average wage workers, who have low economic availability.
The price increases mainly affect two types of areas: those around the peripheral stops of the new M4 Metro and those near the areas being redeveloped for the Metro. The Olympics Winter of 2026. However, the slowdown in sales and the length of the average time it takes to sell a home indicate that the trend may soon change.
The real estate market in Milan
The findings of a new report from the K.Study Center Technocasa On house prices a Milan In the first half of 2024, there was a clear change in the trend of the sector in the capital of Lombardy. Compared to 2023, sales have decreased significantly, while prices continue to rise.
“In the first part of 2024, the Milan real estate market shows signs of slowing down: Decline in sales (-10.1%) compared to the same period in 2023, Sale time 81 days More cautious and thoughtful investors than 68 days a year ago. Compared to previous years, the latter buy less to make short rents, preferring the traditional channel. Prices are still rising, +1.3%, with a slight decrease in central areas and various suburbs, especially along the new metro line and near redevelopment interventions, which are being significantly reassessed” , says Fabiana Megliola, responsible. Technocasa Group Research Office.
Prices have increased by 27% compared to 2019, with large differences depending on the regions considered.
- Center: +11.5%
- Semi-center: +20.4%
- Suburbs: +34%
Therefore only the peripheral areas live above the average, a figure that underlines the housing crisis in Lombardy’s capital. They are actually house prices. Less expensive on average Increased more rapidly, the salaries of those who usually seek housing solutions in areas further from the center have increased.
Areas of Milan where prices are rising the most.
Not all. Suburbs They experienced price increases at the same level. In the longer term, so from 2019, there are three sectors that have recorded above-average house price growth:
- Fira and San Siro: +40.4%
- Lodi area: +38.2%
- Bovisa and Sempione: +34.8%
In recent times, it is above all areas surrounding the M4 metro and its more peripheral stops that have gained value in terms of the real estate market. The neighborhood of Lorentegio e Giambellino, Living in the most affordable areas, they are already experiencing an increase in home values.
Then there are the many areas where plans for the 2026 Winter Olympics will be born. Roman Gate, Where the Olympic Village and area Santa Giulia Where Palitalia will arise. In these areas too, housing prices are increasing with first investment.
