from 17,600 euros per square meter in the Quadrilatero to 15,150 in Brera. There is a boom in sales with the concessions –

from Gino Pagliuca

In the first half of the year + 10% of sales. thanks to the tax advantages. The scroungers who choose residence in Italy pay a coupon of 100,000 euros a year. They are looking for large houses on the top floors. The average price in the Quadrilatero della Moda: 13,550 euros per square meter

Given the due proportions, the spirit is that of those who go shopping at the discount store for convenience. Foreigners who buy the ultra-luxury residences in the center of Milan are not only, of course, decidedly wealthy, but very often they are top managers who already have a home in the main financial centers or tax havens in Europe and are used to dealing with prices between 30-40 thousand euros per meter in cities like London, Paris, Monte Carlo, while here, even in areas where prices are at the highest, they find much less to spend. Yes, you can say, finance is fine, but what do i have to do with it tax havens with Milan? They have a lot to do with it: foreigners who choose residence in Italy can opt for a subsidized regime that allows you to pay a flat rate tax of 100 thousand euros a year, a huge amount for mere mortals, a no brainer for the Scrooge who look for a house in the surroundings of the Quadrilatero.

It is estimated that 700 foreigners, with assets of at least 30 million euros, have opted for this tax regime in the Peninsula and for the most part the purchase transactions have concerned the city of Milan. These are news that we get from an interesting report on the luxury real estate market that contains a focus on foreign buyers and that was anticipated at Courier by the service company that drafted it, the Vincenzo Monti Prestige.

The analysis shows that the top real estate sales to foreigners they increased by 10 percent in the first six months of 2022 and that – despite the vulgarity that describes football stars as compulsive bricklayers – for the most part the deeds are signed by entrepreneurs, which in more than half of the cases focus on a house that has already been redeveloped. Only one in seven is satisfied with a property still to be renovated, while residences that have only been partially modernized win the favor of one in ten buyers. Foreigners who buy a house in Milan they are mainly looking for large apartments on the top floors of at least 200-250 square meters, with large terraces and open spaces. The most popular districts are the Quadrilatero della Moda, the Brera area, the area of ​​via Venti Settembre and Corso Magenta, but also Porta Nuova and Citylife.

The major requests, the study found, come from the United States with a share of 26 per cent of the total demand, from the United Kingdom (16) and Germany (13); followed by the Swiss, French, Canadians, Belgians, Israelis and Dutch, all with percentages between 2 and 6 per cent. A share of about eight percent of the demand is made up of people of Russian nationality who, despite the international situation, have not diminished the interest in Milanese brick and aim above all at the Quadrilatero and the areas adjacent to the Duomo.

Those looking for a luxury home in the top areas, foreign or Italian, must deal with the scarcity of the offer, while, he emphasizes Andrea PincherliCEO of Vm Prestige, the demand is growing both for the range of products up to two million euros and for the higher one. As a result, prices continue to rise. The forecast that at the end of the year the luxury homes in the historic center and prestigious areas sold will touch 600 units, for a value of more than one billion. A forecast based on the data of the first half of 2022: in the period 266 homes were sold in the historic center and in the neighboring prestigious areas, with an average size of about 150 square meters and a cost of almost 1.7 million euros, for a turnover of 450 million. It should be noted that less than 5 per cent of the homes for sale in Milan are in the luxury segment and, moreover, they are often old houses (over half of the buildings within the Cerchia dei Navigli date back to the pre-war period) and only in 4 per cent. one hundred of the cases are properties with an excellent energy class. In addition, the availability of private parking is scarce, given that in the historic center of Milan only 26 percent of the houses for sale have one or more garage or, alternatively, parking spaces inside the building. And only one in five boxes is double.

The average prices for this housing segment now stand at around 11,200 euros per square meter with an increase of 4.3 percent. The top is registered at the Quadrilatero della Moda, with an average price of 13,550 euros per square meter with peaks of 17,600. Prices above 15 thousand euros in Porta Nuova, Castello Sforzesco, Corso Magenta, Corso Venezia and Brera.

September 5, 2022 (change September 5, 2022 | 10:27)

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