Homes are no longer just an asset or an investment, but must represent an experience, all the more so in the luxury segment. One purchases not only a home but the “pleasure of living”, namely what one expects to live within the home.

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

It is a true journey, starting from identification of the neighbourhood in which one wants to live (which must be well-served), considering the location (which must have its own distinct personality) and, lastly, focusing on the building.

During the second half of 2019, the prestigious properties market in the cities monitored by Santandrea confirmed the recovery observed in the first part of the year.

In particular, Milan’s freehold segment showed the greatest activity, in a scenario of rising prices, with demand predominantly in the zones of Brera and the historic centre; Rome maintains greater stability, although with differences according to zone and declining prices; Turin was instead characterised by essentially stable transactions and prices and a predominant demand for the Quadrilatero, Via Roma, Piazza Gran Madre and surrounding areas. Genoa has recorded an increase in transactions, particularly in the zones of Albaro, Carignano and Quarto-Quinto. Florence has observed stable transactions and a slight rise in prices, with the Historic Centre and the Lungarni zone particularly active. Naples has been characterised by stable prices and growing demand for the Vomero and Chiaia zones.

Average sales times in Milan, Turin and Naples are around 5-6 months; Genoa is at between 6 and 8 months, while around 8 months are needed to close a deal in Rome and Florence. With regard to average discounts upon closure of the deals, the average is 7% in Turin, 11% in Genoa, 10% in Florence, 11% in Milan, 12% in Rome and 13% in Naples.

In addition to analysing the key market indicators, the report examines Milan’s real estate market, through a qualitative analysis highlighting the most significant characteristics of prestigious homes and their impact in terms of value for the potential purchaser.