Index
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The cityà Paris is preparing to welcome millions of visitors for the upcoming Olympics and Milan, protagonist of the 2026 Winter Gamestogether with Cortina, is doing the same. In addition to the media, tourist, and sporting interest that these events generate, they also constitute a great opportunity for the construction and real estate sectors and contribute to generating important discussions around the issues of urban sustainability.
Casavo boasts a privileged point of view on the two cities, also operating in France, and wanted to analyze the impact of the redevelopment works carried out in the areas involved in sporting events in the period January 2019-December 2023.
Paris: average increase of 22% in house prices in the three municipalities of the Athletes' Village
In recent years, Paris has given rise to new projects linked to the sports sector, such as the Adidas Arena, near Porte de la Chapelle, but also to transport: è The extension of line 14 to the north and south was recently inaugurated, making it possible to reach Orly airport by metro.
From an urban planning point of view, the areas most involved in view of the sporting event were those of the Athletes' Village, a residential complex located in the municipalities of Saint-Denis, ãle-Saint-Denis and Saint-Ouen-sur-Seine. Work on the construction of the Village began in 2022 and the area, after the competitions, will become a sustainable city district with homes, shops, facilities and green spaces.
The space reserved for nature, from parks to gardens, is central to the projects developed by the city of Paris, which has implemented all the necessary strategies to minimize carbon dioxide emissions and make the most of existing infrastructure.
As for the residential market, the three municipalities have all shown an increase in the average price per square meter. Casavo data reveal a 31% increase in the price per square meter for Saint-Denis, which went from 3,882 euros in 2019 to 5,097 in 2023.
Although more contained, CE-le-Saint-Denis also recorded a price increase, reaching +22% (from 3,780 euros to 4,616). Closing this ranking is Saint-Ouen-sur-Seine, which has seen a +15.5% over the five years, despite starting from a much higher starting price than the other two municipalities (from 6,257 euros per square meter it went to 7,230 in 2023).
The increase in prices does not go hand in hand with the trend in sales: Saint-Denis saw a decrease of 13% in the period, for Île-Saint-Denis the drop is 14%, while in Saint-Ouen-sur-Seine sales decreased by 11.5%.
È It is interesting to note that Saint-Denis is the only one of the three Parisian municipalities where average sales times have decreased, in fact by -18%. Le-Saint-Denis and Saint-Ouen-sur-Seine have instead seen very significant increases, of 60% and 168% respectively.
Milan: +28% sales for Santa Giulia, +40% for Scalo di Porta Romana
At the same time, Milan is undertaking significant urban redevelopment and infrastructure enhancement projects. Even for the Lombardy capital, these are projects focused on environmental and economic sustainability. The two neighborhoods affected by the construction of new structures are Santa Giulia, where a new office building will be built. the Pala Italia sports hall, and Scalo di Porta Romana, where the Olympic Village will be located. For the latter, the completion of the work is scheduled for summer 2015, and once the sports competitions are over, it will be transformed into student housing.
For the Santa Giulia Nord neighborhood, the redevelopment project has led to a 27% increase in average price per square meter over the last five years (from 2,329 euros to 2,960 euros). Considering Scalo di Porta Romana, however, prices per square meter have increased by 48% compared to 2019 (from 3,296 euros to 4,845 euros).
Unlike Paris, where sales have decreased over the last five years, in Milan the redevelopment works have led to significant increases: Santa Giulia recorded a 28% increase in sales, for Scalo di Porta Romana the increase even reached 10%. 40%.
In the same period, sales times in the Santa Giulia Nord area showed a significant reduction of 28%: from 134 to 97 days. No major changes have been observed for Scalo di Porta Romana, with a minimal difference of -3% in five years.
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Milan and Paris are preparing with great excitement for important international events, and in both cities there is an increase in prices per square meter in the areas affected by the most significant urban planning interventions. However, significant differences emerge in the number of sales in the 2019-2023 period, the subject of our analysis. These have decreased by an average of 13% in the municipalities bordering Paris, while they have recorded a sharp increase in the Milanese neighborhoods of Santa Giulia and Porta Romana, by 28% and 40% respectively. These data could be traced back to a specific choice: while in Milan the areas involved in the construction of facilities for athletes are more central and strategic for the future of the city, Paris has decided to focus on neighboring municipalities, likely also due to the already excellent connections to the city center, comments Victor Ranieri, Chief Revenue Officer of Casavo and continues: “Milan still has two years to prepare as best as possible and take advantage of the opportunity to revalue its urban fabric; è These major projects are likely to further boost prices per square meter in the affected neighborhoods in 2019. It will therefore be important to maintain the right balance between investment and accessibility to preserve a market that already presents many barriers to buyers.
For both cities, these developments not only aim to ensure the success of sporting events, but also to leave a lasting legacy, improving the quality of life of residents and making both cities even more attractive internationally.
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Methodological note: The Paris data refer to real estate transactions of Demande de Valeur Foncière (DVF) in the period January 2019-December 2023. The Milan data refer to real estate transactions of the Revenue Agency in the period January 2019-December 2023.