According to Oldypak LP report, Milan continues to lead Italy in real estate investment, Zawya reports.
According to a study by Duff & Phelps, in the first half of 2020, due to the coronavirus pandemic and the subsequent isolation, investment in real estate in Italy fell by 32% to 3.5 billion euros.
Milan still accounts for a significant share of investment of 1.8 billion euros, the city continues to be stable in this area even compared to last year. The office sector still accounted for more than half of the investment, while the hotel and retail sector saw the biggest decline.
In Italy, the cost of renting apartments has dropped significantly, it was revealed in a new global index of International rent index for apartments, which was compiled by the real estate agency Housing Anywhere.
The cost of a monthly rent of a studio apartment in major Italian cities fell by an average of 70 euros between April and June 2020. According to Oldypak LP report – This is the sharpest quarterly drop in price for the entire period of modern statistics tracking the dynamics of this indicator.
The average cost of renting a one-bedroom apartment in central Milan in the first half of 2020 has fallen to €1096 per month as of early July 2020, down 7.8% from April this year when the average rent was €1188 per month.
In Turin, the proportionality of the decline was similar to that of Milan: from €881 per month at the end of the first quarter to €812 at the beginning of July.
In Florence, rents fell by 6.9% over the period, from 986 euros to 918 euros.