Bookings at 80% for the return (at full capacity) of the Design Week. Record in Brera: six thousand euros a week
Top periods for tourism: Mid-August at the seaside, New Year’s Eve in the mountains, the week of the Salone del Mobile in Milan. The demand for housing in the city for Design week has exploded, surpassing the pre-pandemic records and to rent a house as a private person or via a platform, you spend almost four times what you would pay for any other week of the year: the fee for a two-room apartment with a maximum of four beds in fact during the Design week is 3,615 euros compared to a weekly average of 975 euros. A crazy figure in appearance but still highly competitive compared to that of hotels. The data, elaborated by the study office of Abitare.cois obtained by comparing the availabilities in the six areas historically most linked to the Fuorisalone: Tortona, Brera, Lambrate, Garibaldi, Isola and Porta Romana.
The highest costs (over 5,500 euros on average) are recorded between via Brera, via Solferino and corso Garibaldi; in Porta Romana it is close to 3,500 euros but the increase compared to the annual average is the highest, reaching +313 per cent. It may be surprising that the area historically most linked to design, Zona Tortona, still the heart of events, has relatively low prices (2,570 euros and +157 percent compared to the annual average) but in reality the figure, as he explains Alessandro Ghisolfi, head of the study office of Abitare.co, «Is affected by the fact that the offer in these areas is residual, since the spaces are booked very far in advance. In reality, there would still be some availability of very large properties at prices appropriate to the prestige of the area but a homogeneous comparison would not be correct ».
Comparison with 2019
Interesting the comparison with 2019, the last year in which the event was held at full capacity. The fees are increasing even if not all in the same way: in Lambrate there was an increase of 32.6 per cent while in Brera by 18.4, in Garibaldi by 15.1 and in Porta Romana by 12.5. The increase between Tortona (+5.4 per cent) and Isola (+4.6) was less. Finally, if we pass from the zones to the individual streets, the spending record for this design week is recorded in via Solferino, where it reaches 6,230 euros; a little less (6,160) is spent in via della Moscova. The claims for Lambrate are much lower, after the district’s sunset: 2,100 euros are spent in via Oslavia; same amount in via Conte Rosso ditto while in via Massimino it drops to 1,750. Reduced prices that must not deceive: those who bought in this area at the time are certainly achieving the highest returnsbecause house prices until a few years ago were parameterised to those of the suburbs.
If those who bought at the time have made excellent deals, aim to buy today to invest on short-term rentals it should be noted that, where rents are very high, the sales prices are adjusted and that if you aim for this type of business you have to choose whether to manage the property and the real return on investment is drastically reduced; in practice it means betting on capital gain: ma focus on the continuous revaluation of properties purchased today at bubble prices (to buy and equip a small two-room apartment in Brera for short-term rentals, half a million is enough) it may not necessarily be a good choice; the alternative is to take on all the tasks related to hospitality management but at that point it is no longer just an investment but also a job and the value of time (and the inevitable hassle) to devote to the activity must be put into the account .
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May 31, 2022 (change May 31, 2022 | 08:03)
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