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The Province of Modena

Many outstanding manufacturers are based in Modena, which is located in the heart of the regional Motor Valley and boasts one of the world’s most important ceramics districts and many other specialisations. The territory has a population of over 708,000 inhabitants and is home to the University of Modena and Reggio Emilia and the Motorvehicle University of Emilia-Romagna (MUNER), with over 15,500 students enrolled in the province. It enjoys an advantageous logistic position with important freight terminals and proximity to Bologna and the exhibition centre. The territory offers a wide range of historical (the centre of Modena is a UNESCO World Heritage Site) and natural attractions (such as the Tuscan-Emilian Apennines) as well as a lively gastronomic (from balsamic vinegar to Parmesan) and cultural (from the Pavarotti theatre to the Philosophy Festival) scene.

Population

MODENADataSource – Year
Total population708.199Istat – 2019
Male49%Istat – 2019
Female51%Istat – 2019
% youth population (<15 years)13,9%Istat – 2019
% elderly population (>65 years)22,7%Istat – 2019
No. students enrolled in university15.565Miur – a.a. 2017/18

Residential property market trends

(SOURCE OMI, ARTER)

The province of Modena is made up of 47 municipalities. The aggregation of municipalities into provincial macro-areas was mainly dictated by the presence of important natural morphological elements (the Panaro and Secchia rivers, the Apennine ridge) and a main road artery (Via Emilia), which clearly subdivide the territory, as well as by the socio-economic and environmental characteristics that influence the residential property market.

With 8,136 normalised transactions recorded in the residential segment during 2018, the province of Modena represents 1.2% of the entire national market and 15.7% of the regional market. In the past 5 years, the province of Modena has grown by 88.13% from 4,324.35 transactions in 2013 to 8,135.71 in 2018. In the last year alone (2017-2018), growth was 16.28%, the second highest among the provincial capitals in terms of percentage variation.

In terms of property size, transactions in the province of Modena can be broken down as shown:

  • 5% properties up to 50 sqm
  • 29% properties between 50 sqm and 85 sqm
  • 32% properties between 85 sqm and 115 sqm
  • 16% properties between 115 sqm and 145 sqm
  • 18% over 145 sqm

In terms of sales figures, the provincial capital has a dominant role with a quotation equal to €2,703/m2, followed by the southern semi-central area with €1,981/m2 and the northern semi-central area with €1,754/m2; the economically most advantageous areas in the territory are those with a preponderance of other building segments (production and commercial), which act as a driving force for residential units.

Description of socio-economic context

Production specialisation, districts and specialities, foreign investors in the province

The main industries are mechanics and living, ranging from top companies in the Motor Valley such as Ferrari and the MUNER campus on the one hand, and the ceramic tile district on the other, which gravitates around Sassuolo and accounts for 94% of the sector’s national export. In addition to specialization in agricultural machinery, the agribusiness industry boasts numerous specialities including balsamic vinegar, Parmesan cheese, and Vignola cherries. The province is also home to the most important regional biomedical and fashion districts, in Mirandola and Carpi respectively. A total of 695 foreign multinationals have invested in the province, including: CNH, Mohawk, Daimler, Manitou, Tetra Pak, Baxter, B.Braun Avitum, Medtronic, and Fresenius. Other outstanding companies include: Ferrari, Maserati, Pagani, Inalca, Panini, Liu.Jo, Florim, Kerakoll, and Twinset.

Companies and workDataSource – Year
Number of local units71.676Smail – 2017
Employees270.794Smail – 2017
Unemployment rate6,0%Istat – 2018

Employees by supply chain (Smail 2017)

Mechanics 63.681_employees
Living 53.382_employees
Agribusiness 26.464_employees
Health 19.569_employees
Fashion 18.128_employees
Culture and creativity 12.485_employees
Primary sector (agriculture) 10.404_employees
Chemical industry and plastic materials 3.974_employees

Services

Innovation, transport, smart city, etc.

Modena holds 4th and 9th place nationally (out of over 100 cities) according to two smart city indexes (E&Y 2018, I-City Rank 2019). It enjoys an advantageous logistic position with numerous freight terminals, ModenaFiere (part of the Bologna exhibition centre) and a distance of 40 km to the airport and high-speed railway station of Bologna. The Modena Technopole is managed by the Democenter Foundation, a business innovation centre, and is home to innovation accelerators, spaces for companies and 7 laboratories (Intermech-MO.RE., Softech-ICT, CIDSTEM, CGR, ToP, MaB, and MS2).

Cultural and natural heritage, accommodation, tourism

The historic centre of Modena is a UNESCO World Heritage Site but the entire province offers a range of historical and artistic attractions that include the Ferrari Museum, the historic centre of Carpi and the hilltop villages. The province registers an annual presence of 1,625,000 visitors and an accommodation capacity of approximately 21,000 beds (2018). Natural attractions include the Tuscan-Emilian Apennines park and, especially, Monte Cimone, the region’s most important ski area. Food and wine tourism is combined with cultural attractions, which include the theatre named after Modena local Luciano Pavarotti and initiatives such as the Philosophy Festival.

For more information: https://www.emiliaromagnaturismo.it/it/localita/modena

Map of main structures and infrastructure

DistanzeKm
Modena – Bologna43
Modena – Verona105
Modena – Firenze133
Modena – Milano177

A selection of companies from the Modena

1200px-Logo_della_Ferrari_S.p.A.
Logo_Liu_Jo
Maserati
8b051500cb272e218945b85582a37e3d
Tetra Pack

Real estate in Modena

In-depth links

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