In 2020, the leasehold market was impacted by the health emergency and by the consequent lockdown. Overall, nearly 1.3 million let homes were recorded, -8.8% compared to the prior year.
The predominant contractual type continues to be the regular long-term contract, although some cities such as Rome see a predominance of contracts with regulated rent. In this scenario, even rents, which are on average higher for the first type, appear to balance off in certain cities, such as Palermo and Rome.
While the contribution to total revenues deriving from leases is mainly attributable to Northern Italy, Rome remains the city with the greatest impact at the national level, followed by Milan. As far as average areas let are concerned, there are significant differences among the various cities, with Palermo at the top of the list in terms of average square metres let per unit, followed by Florence and Naples.
Contextually, the residential leasehold market in 2020 appealed to investors, with a total investment volume of € 370 million, up sharply compared to 2019, during which it amounted to just under € 60 million. This phenomenon is in line with the new consumption and living trends, characterised by growing interest in the new forms of multi-family living, such as co-living, serviced apartments and senior living.