A week ago, at Pertini, a man straddled the railing of the building’s second floor terrace. After the alarm raised by officials of the multipurpose library, rescuers surrounded the building. The man, between 40 and 45 years old, shouted his frustration at his vain search for a place to live. A house which, even in Cinisello Balsamo, has now reached prohibitive costs. The affair ended in the best way with the police who convinced him to get out.
But what happened the other day is controversial. The housing emergency is affecting Northern Milan and making it increasingly difficult for families and individuals to find a house for rent or for sale at affordable prices. So let’s see the state of the real estate market in Cinisello Balsamo according to the data collected via immobiliare.it (home sales website), those collected by the municipal offices and various associations.
The first data to highlight is that of the cost of the house which currently stands at €2,161/m² for sale and 13.61 euro/m² for rent. Doing a quick calculation, a 60 m² house costs 129,660 euros for sale while for rent it would have a monthly fee of 816.6 euros.
Consulting the data from the third annual report of the Home Observatory, the Municipality of Cinisello Balsamo has the lowest average taxable income per taxpayer (21,660) and per capita income (14,944 euros) in the area. Furthermore, again in Cinisello, it is estimated that in 2021 there were 22.8% of residents with a total income of less than 10,000 euros and 12.6% with a total income between 10 thousand and 15 thousand euros.
Furthermore, the Immobiliare.it website notes how, out of 32,410 homes (data collected in 2020), the majority of real estate assets are owned by people born between 1971 and 1980 (14,909) followed by those born between 61 and 70. (7,454), those born between 81 and 90 (5,510) and, finally, those born between 45 and 60 (1,945).
The generation from 91 to beyond 2000 is in possession of only 2,592 units of the city’s real estate assets, i.e. 15% of the population of Cinisello Balsamo (equal to 11,439.6) owns only 2,592 homes out of 32,410 homes (data collected in 2020).
Now, if on average a house costs €129,660 and the per capita income is €14,944, it is clear whoever wants to buy will have to use a good part of their savings to be able to access a mortgage that will also allow them to have enough money to survive. In fact, a person with such income earns around 1,245 per month. If instead he preferred to rent it he would have to spend 816.6 euros and would have to survive on what is left of his salary or around 428 euros.
Obviously these calculations are not even possible for the group with a total income of less than 10 thousand euros which however corresponds to 22.8% of the 76,264 inhabitants of the city. In this general framework, the eviction emergency has also been increasing in Cinisello Balsamo which, again according to the annual report of the Housing Observatory, in 2022 the cases taken care of by the administrations were 85, while in 2023 they were 60.
Most of these are due to arrears and not due to the needs of the landlord or due to the end of the lease even if the latter are on the rise driven by those owners inclined to regain the availability of the properties to keep them vacant or to allocate them to more profitable short-term rentals.
