The coronavirus emergency continues in Milan. Doctors and nurses are trying to contain the infections but the emergency is also economic. And the backlash also came in the real estate market. According to the president of Scenari Immobiliari, Marco Breglia, the sales in Lombardy in the first two months of 2020 “fell by 7%” compared to the same period a year ago. The decrease, according to the president of the research institute, reaches peaks of 12% in the shadow of the Madonna.
“In March – added Breglia – a very strong reduction is likely, already evident in the visits to the apartments for sale, more than halved compared to a year ago. The demand continues to be sustained and a * rebound * from half is likely year, with emergency ended. For the moment there are no tensions on prices, indeed there is a slight increase in rental rates in Milan “.
The estimates of Real Estate Scenarios for the end of the year, at national level, have been revised downwards. But still, with a turnover of 130 billion euros, they still remain positive compared to a year ago.
As for the other markets, experts see slowdowns in the “managerial” sector while sales in the commercial sector have stopped. Better logistics which, thanks to the boom in e-commerce, will have another year full of exchanges and operations.
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