Business · Economy · 10 hrs ago
Barbacetto says housing costs have driven 400,000 people out of Milan
Journalist Gianni Barbacetto says 400,000 people have left Milan in recent years because they could no longer afford to live there.
Milan has become Italy’s most expensive city, according to the account of a conference about its urban development.
The city’s development model has focused for about 15 years on building, property investment and urban renewal.
The goal was to make Milan more international and attractive, and Barbacetto says that goal was achieved.
He says Milan became Europe’s leading city for property investment, especially from international funds.
He links that investment to low building charges and relaxed planning rules, which made construction easier and less costly.
The conference brought together academics, writers and other experts to examine how this model changed the city, but no further steps were specified.
Gianni Barbacetto says 400,000 people have left Milan in recent years because they could no longer afford to live there.
He made the claim while discussing what he calls a social and demographic transformation of the city.
Barbacetto says Milan has become Italy’s most expensive city and ranks first in Europe for real estate investment.
He attributes the city’s development model to building growth, real estate development and urban regeneration aimed at making Milan more international and attractive.
He says low construction charges and relaxed planning rules helped attract international real estate funds.
- Who
- Journalist Gianni Barbacetto says 400,000 Milan residents have left the city.
- What
- Barbacetto says housing and living costs forced them to leave.
- When
- In recent years; no specific dates are stated.
- Where
- Milan, Italy.
- Why
- Barbacetto says people could no longer afford to live in the city.
This story does not have two clearly opposing sides.
Barbacetto says the so-called Milan model has been in operation for at least 15 years.
Barbacetto says 400,000 Milan residents have left because they could no longer afford to live in the city.
The “Milan Model, Anatomy of a City-System” conference brought together scholars, university professors and writers.
- People who left
- 400,000
- City
- Milan
- Model duration
- At least 15 years
- Conference
- Milan Model, Anatomy of a City-System
What people are saying
In recent years, four hundred thousand Milan residents have had to leave the city because they could no longer afford to live here
Milan has become the city with the highest costs in Italy
Milan has become the number one city in Europe for real estate investment, especially from international real estate funds