Real estate investments: proof of restart, from Milan

Milan also wants to start from investments and the real estate sector. In the setting of Piazza Affari yesterday the first convention, no longer just virtual, which brought together investors, experts and intermediaries to discuss the recovery. Relaunch that is also played on leases. The disproportionate returns on the market, with remuneration rates of 8-9% on the capital invested, risk undermining the recovery of trade. Neighborhood shops, shopping malls, supermarkets, but also corporate offices are discounting rents contracted in the pre-Covid era now that cash flows are falling due to uncertainties about savings and income that translate to consumption.

To the General States just concluded, the Prime Minister Giuseppe Conte and Treasury owner Roberto Gualtieri have received a proposal that they are studying at the MEF to make it operational. Confedilizia President Giorgio Spaziani Testa put it on the table. It provides for a special regime aimed at favoring agreements between landlords and tenants, providing for a 10% dry coupon and a 25% reduction of the IMU as long as the two parties agree for a 20-25% reduction in the rent. There would be a remodeling effect of all commercial contracts which would not play on the contrast of interests between private individuals. The hunt for cover would have begun at the MEF, but it is clear that an intervention by the State is needed in order not to send all the retail out of the market given the collapse in consumption. Many are worried about the risk of a ghost town with Amazon taking it, amplified by the use (or abuse) of smart working and it impacts us on housing. Paolo Pertici, CEO of Re.Mi., says that a new way of living is taking hold, with less interest in the city center and more regeneration of the urban suburbs with green spaces and terraces. A project of this type in Milan Forrest in Town, the first urban complex with indoor hydroponic cultivation, ready to cut the ribbon in 2-3 years in the Navigli area.

The theme of the service platforms, on which Percassi invests, is transversal Realty. Bets on projects that present innovative housing formulas. They expect the buyer as a user of ancillary services, from the restaurant, to medical care. The polar star of any reasoning for the protection of property value, the most important form of savings for Italians. With an economy that is self-tightening, it is inevitable to discount a depreciation that has already taken place in recent years, except for Milan capable of attracting capital from qualified foreign investors and sovereign wealth funds. On the side of impaired loans, the position of Riccardo Serrini, CEO of Prelios, is interesting. He invites us to consider ways of accompanying the state to companies in crisis.