The recently published “Market Report for Residential Property in Milan second half year 2020” by Engel & Völkers, underlined substantial levels of activity in the Milanese real estate market in the second half of last year. In spite of the persistence of the pandemic, which manifested itself with particular vehemence in the region of Lombardy, a higher number of real estate transactions have been registered compared to the corresponding months of 2019. “In Milan we have seen an inclination towards a more advantageous relationship between property size and price, and the presence of green areas. Buyers are considering less central areas and move towards peripheral districts, well-connected to the city,” says Roberto Magaglio, Licence Partner of Engel & Völkers Milano. “Demand is still largely concentrated on homes that have been renovated, especially new residential developments in peripheral areas and with outdoor spaces,” he explains. Italy reached one of the highest numbers of sales growth of the Engel & Völkers Group in the Residential division, with a rise in revenues of 5.2 percent compared to the previous year.