Our Managing Partner Guido Alberto Inzaghi spoke to Green Street News about the new Piano Casa and the opportunities it may create for the Italian residential market.
The growing difficulty in accessing housing is no longer confined to major cities such as Milan and Rome, but also affects areas with a strong tourism and luxury sector, such as Lake Como, where the shortage of housing for staff risks becoming a tangible constraint on growth.
Against this backdrop, the Piano Casa introduces measures aimed at facilitating the mobilization of large-scale private capital. Investments exceeding €1 billion may benefit from significant incentives, including a 35% volumetric bonus, streamlined urban planning procedures and the exclusion of the affordable housing component from the calculation of the maximum permitted floor area.
In return for these benefits, at least 70% of the investment must be allocated to affordable housing subject to an agreement (edilizia convenzionata), with units sold or let at prices at least 33% below market levels and subject to a 30-year restriction.
A new regulatory framework aimed at making affordable housing an integral part of Italy’s development and investment strategies.
To read the full article click here.