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It is not easy for a real estate agency to establish itself in a city like Milan, where the clientele is vast and diverse. However, the team at Luxury Home Milano, led by owner Olga Akilova, excels in this, thanks to the dedication and experience of those who work there daily. Additionally, the agency specializes in international real estate transactions, catering to clients from foreign countries.
To understand the dynamics of the luxury real estate market in Milan and surrounding areas, we interviewed Olga Akilova, who answered our questions, taking into account the opinions of the real estate agents working alongside her in the same agency.
What is the current trend in the real estate market in the reference area of your agency?
We are a specialized agency in international transactions, so we don't have a specific reference area. However, we conduct searches based on the requests of our esteemed clientele. It can be said that the most requested areas are mainly the city of Milan, the large lakes in Northern Italy, and the regions of Liguria and Tuscany. For example, in Milan, there is a growing demand for large-sized residences, with requests for homes exceeding 200 square meters becoming more frequent.
There is also a preference for period properties due to their elegant context, high ceilings, and period details (especially when it comes to Liberty-style decorative elements), which are increasingly appreciated by buyers. Finally, there is a growing trend to move away from the historic center, preferring more residential areas, with a keen focus on the presence and proximity of green spaces.
Based on your experience, have you identified a target clientele for your real estate agency?
We mainly work with foreign clients from Eastern European countries. Being a reference point for them, not only for home purchases but also for post-sales processes such as notarial procedures or potential renovations, we maintain relationships with clients even after the notarized deed. The satisfaction of our clients is our main calling card, and most of our clientele comes to us through word of mouth. Those looking for a comprehensive service know they can turn to our agency to be assisted by a real estate expert without language constraints.
What types of properties are currently in high demand?
The most sought-after residential properties are large-sized apartments, with a strong preference for period buildings in prestigious areas bordering the historic center, such as Magenta, Pagano, Isola, Brera, and Sempione. The second highly sought-after type is investment apartments. In this case, central areas are preferred, and smaller sizes are also considered. In Milan, the rental market, even for short-term leases, is very dynamic and profitable.
What motivated you to partner with Luxforsale for your real estate agency?
To ensure maximum visibility for all the properties entrusted to us, we always try to advertise our offers on portals that promote listings internationally. Luxforsale provides the opportunity to reach a specific target, so it seems interesting to promote our luxury properties on this platform.
Based on your experience in the sector, what are the possible future developments in the luxury real estate market in your reference area and in general?
The redevelopment and real estate development projects promoted by the City of Milan in recent times, especially in view of the upcoming Olympics, have undoubtedly contributed to improving the city's infrastructure and services, enhancing the comfort of residents' daily lives.
For the "luxury" clientele, it is also important that services are efficient and easily accessible, that the surrounding context is quiet, with less traffic, and increasingly green. European regulations aimed at the development of more sustainable projects significantly improve the quality of urban life, so new constructions with high energy efficiency and lower consumption will have an increasingly prominent place in the international real estate market.
