House in Milan, with a salary of 1,500 euros you can buy between 18 and 31 square meters – Corriere.it

Starting from an average salary of 1,500 euros per month and taking into account a twenty-year mortgage with a 30% installment of salary, what kind of house can you afford in Milan? Some data from the Casa Affordable observatory, promoted by the CCL with the partnership of the Department of Architecture and Urban Studies (DAStU) of the Milan Polytechnic, answer the question: if the new apartment 18 square meters, which rise to 24 if in good condition and up to 31 if the property needs renovation.

Purchases and sales with mortgages in 63% of cases

These figures refer to recent Fimaa data (Italian Federation of Business Agent Mediators), according to which, excluding the historic center of Milan which has more than double values ​​compared to the rest of the city, the average of effective sales values ​​in 2021 was 5,268 euros on the new market/energy class A or B, 4,122 euros on the used market in good condition and 3,086 euros on the used market to be restored. The photograph that emerges is that of an “expensive home” that continues to burden families, with an average income to live in a non-central area of ​​Milan. For this reason, most of the sales (63%) take place through a mortgage with an average amount of 234 thousand euros.

Rental fees at +30%

The rental situation is no better. from 2015 to 2021 the number of registered contracts rose from around 40,000 to around 55,000. Temporary contracts increased in particular, accounting for 24.2% of the total, while a canon agreed and subsidized remain just 5% of contracts signed each year. A growth, in rents, which since 2015 is between 25 and 30%. The average value for transitory contracts is 148.5 euros per square meter per year, 165 for long-term contracts. This translates into an average of 965 euros per month for a long-term contract in an apartment of 70 square meters, 815 euros in the case of a transitional contract, even if the offer proposed by the various online trading portals is even higher (arriving at 1,400 euros per square meter for 70 square meters).