The home is no longer just an asset or an investment, it represents an experience, and this is increasingly true with luxury homes. We do not merely purchase a home, we purchase the “pleasure of living”, namely what we expect to be able to live within the home.

How do we translate this need into the search for a prestigious home?

It is a true journey, which starts with identification of the neighbourhood in which one wants to live (which must be well-served), looks at location (which should have its unique personality) and, lastly, focuses on the property.

During the second half of 2019, the prestigious properties market in the cities monitored by Santandrea Luxury Houses confirmed the recovery observed in 2018.

In particular, Milan’s freehold segment showed the greatest activity, with a slight positive trend in prices and demand concentrated in Brera, Magenta and Pagano areas. and Rome recorded increased stability, although with differences based on zone and a slight decline in prices.

Turin recorded stability both in prices and transactions, with demand up in Quadrilatero, Via Roma and Piazza Gran Madre. In Genoa, transactions are confirmed as essentially stable compared to the prior half-year, with demand up in Albaro and Carignano, and a slight decline in prices. Florence recorded stability in transaction activity and a slight increase in prices, with a positive trend for the Historic Centre and the Lungarni Area. Naples recorded stability in prices with demand up in Vomero and Chiaia.

Average sales times in Milan, Turin and Naples are confirmed at around 5-6 months. The time necessary to complete negotiations in Genoa is at around 6-8 months, while in Rome and Florence it amounts to 7-8 months.

The average discount was around 7% in Turin, 10% in Genoa and Florence, 11% in Milan, 13% in Rome and 10-15% in Naples.

In addition to analysing the key market indicators, the report examines Rome’s luxury real estate market in detail, through a qualitative analysis that shows that the prestigious home of the future, in addition to providing a “lighter” living experience for its inhabitants, must interact and evolve with them, following the life cycle of the household and the changes that take place over time. Although the homes are smaller than in the past, they are more manageable, with interior layouts that favour the living area, light and outdoor openings, within consolidated surroundings rich in services and well-connected.