Milan drives international investments in Europe

We contacted Giampaolo Lo Conte, an Italian trader expert in international investments, to investigate the growth trend of the real estate market in the Lombard capital.  Milan alone attracts 50% of real estate investments in Italy.  Many of them, as you will see, come from abroad.

At the beginning of May, Il Sole 24 Ore published the 2018 property investment reports in Italy and the first analyzes of the 2019 trends, based on the first quarter that ended a few weeks ago. Rome and Milan drive investments in the peninsula, which stand at around 8.6 billion euros by 2018, and induce bettors to focus on the sector’s surge across the peninsula, a few months from now. The reasons for this predicted growth could be found in a series of major operations on the suburbs and on the luxury hotels that were registered in the last semester. On Capri, for example, there was the novelty of the Capri Palace structure and the sale of the famous Quisisana hotel of the Morgano family; in Rome there has been talk for months of the new mega-sites that Apple will open on Via Del Corso and Piazza San Silvestro, while in Milan private suburban areas have been sold for an estimated value of two million square meters. And it is precisely the Lombard capital, which alone catalyses almost 50% of real estate investments in Italy, to have the brightest future in this respect. We are talking about an imminent future: all the building areas in the suburbs are already under development and even in the historic center, in the Porta Nuova area, buildings are being constructed that appear to cover an area equal to that of Porta Garibaldi.

To understand more we interviewed Giampaolo Lo Conte, a well-known Italian entrepreneur who collaborates with numerous business and finance magazines, stating his interest in real estate investments in Italy and abroad. For Giampaolo Lo Conte Milan has already become the protagonist of large international investments: “Speaking of Milan in the context of international investments is no longer a novelty – he tells us from his London office – given that the city attracts foreign investors much more than Rome and  of other European capitals. Recently in Milan, Australia’s Lendlease invested in the former Expo area, while Hines and Prelios have recently got their hands on Snai’s former trot, the San Siro Racecourse. The former Palazzo Telecom in the center of Milan was acquired by COIMA SGR, one of the largest investment and asset management companies in circulation. I could go on forever.  How do you know it so long?  Did you participate in successful real estate operations in Milan? “As far as I’m concerned, I’ve been following foreign investments on the Milan properties since 2015, when Palazzo Broggi (head office of the Milan stock exchange, ed) was sold to the Chinese for about 450 million euros. The following year a large fund of Qatar invested 2 billion on all the skyscrapers of Porta Nuova and so on, until today, the year in which it seems the final consecration of this kind of foreign investment in the city will take place. I have recently managed successful operations in the city and, without going into details, I will manage others in the coming months. ”

And so, reading the recently published data, in the period from 2008 to 2018 in Milan 22 billion euros of real estate investments arrived, against the 11 billion in Rome. The eternal city offers a historical stock of greater value, especially for the redevelopment works.  But that’s not enough.

For Giampaolo Lo Conte “Milan is and will remain the Italian capital of real estate investments for a long time. With my collaborators I have followed – continues Lo Conte – the growth of the 2017-2018 period: in Milan about 25,000 real estate units were sold, the turnover of these operations grew by + 10% and in the most prestigious areas the values ​​of the properties are  permanently above pre-crisis values ​​”. Finally, we ask Giampaolo Lo Conte which are the new frontiers of income investments in Italy and, without half measures, he answers us this way: “Bets on luxury yachts, I talked about them recently in collaboration with an economy and finance magazine. For months I have been managing investments in luxury yachts in Italy through a capital company that buys yachts from the Palumbo Super Yacht shipyards in Naples and Isa Yacht and Columbus Yacht in Ancona. In the United States these investments are having excellent feedback from the markets, which offer dedicated “broker and dealer” services. You can buy a luxury boat to rent it, resell it or take it under management, also taking care of hydraulic, electrical and mechanical maintenance ”.  We’ll talk soon …