In a recent interview with Monitor Immobiliare, our Managing Partner Guido Alberto Inzaghi addressed the issue of regulatory uncertainty in the real estate sector and the need for national legislation capable of ensuring a clear and consistent interpretation of urban planning and building regulations. A need made all the more evident by the differing interpretations of the legislation that have emerged in court proceedings, which continue to create uncertainty for operators and investors.
The prospect of reform at national level, however, still appears some way off: the long-announced revision of the Consolidated Building Act has yet to complete its parliamentary process. Against this backdrop, local authorities are taking action, albeit adopting different approaches.
On the one hand, Rome, with the Amendment to its General Regulatory Plan (PRG) and a framework aimed at facilitating investment; on the other, Milan, where the guidelines set out in the preliminary report relating to the Amendment to the PGT appear, according to Inzaghi, to be moving towards a more restrictive approach to urban regeneration projects.
In particular, the new approach envisaged for Milan’s PGT provides for:
- broader use of Implementation Plans, including in circumstances beyond those provided for under national legislation, with the resulting risk of significantly longer approval procedures;
- more restrictive rules governing changes of use, with potential implications also for the development of new residential uses;
- greater restrictions on private services of general interest, such as student accommodation.
To view the full interview, click here