Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Italy MarketBeat

Raffaella Pinto • 23/07/2023

Investment

The many challenges facing the market anticipated the slowdown in investment, down 63% on H1 22. Industrial & Logistics and Hospitality continued to lead the way, with foreign capital increasing and accounting for 50% of the half-yearly share, while prime yields rose by 50bp in High Street Retail, but remained stable in all other sectors.

Office

Healthy occupier market in both Milan and Rome recording a take up of 173,000 sqm ( with a further 20.000 sqm of sublease activity) and 152,000 sqm respectively.  Availability remains scarce for both CBD’s contributing to high prime rental values. For investments, offices have emerged as a key worry for the global real estate market with investments just below 400 €Mn, declining 80% on figures for H1 22.

Logistics

Strong activity recorded during the second quarter for the Logistics sector, with take up increasing by 39% on Q1 figures, bringing figures for H1 23 just 5% below those recorded in H1 22. Despite the slowdown in investment volumes, the Logistics sector proved to be more resilient than other asset classes accounting for 25% of the overall CRE investments.

Retail

Few active investors in the retail market with investment volumes in the order of 200 €Mn. Shopping centre footfall and turnover continues the positive trend, returning to pre-pandemic levels. Retailers show cautious optimism and look at cities with the highest number of visitors for their expansion plans.

Hospitality

After a strong first half, a slowdown in transaction activity was recorded during H2 as a result of rising debt costs and economic and geopolitical concerns. Nevertheless, several high-profile deals were completed in prime markets such as Rome, leading to an increase in the average price per room. Hotels remain an effective inflation hedge which, coupled with the return of international capital, should support appetite in the sector.

 

Current Marketbeats

card office for marketbeat q2
Italy Milan Office Data Q2 2023

Office Marketbeat is a summary of the Italy office property sector providing comment on recent trends as well as market data and analysis.

Italy Marketbeat Office Q2 2023

women's clothing on a rail in store
Italy Retail Data Q2 2023

Retail Marketbeat is a summary of the Italy retail property sector providing comment on recent trends as well as market data and analysis.

Italy Marketbeat Retail Q2 2023

card logistics for marketbeat q2
Italy Logistics Data Q2 2023

Industrial Marketbeat is a summary of the Italy industrial property sector providing comment on recent trends as well as market data and analysis.

Italy Marketbeat Logistics Q2 2023

Marketbeat-Italy-Investment-Generic-Card
Italy Investment Data Q2 2023

Investment Marketbeat is a summary of the Italy real estate investment market providing comment on recent trends as well as market data and analysis.

Italy Marketbeat Investment Q2 2023

Hospitality generic card
Italy Hospitality Data H2022

Hospitality Marketbeat is a summary of the Italy hospitality sector providing comments on recent trends as well as market data and analysis.

Italy Marketbeat Hospitality H2 2022

RELATED INSIGHTS

ITALY MARKET OVERVIEW H1 2023
Insights

Italy Market Overview H1 2023

Despite initial expectations of recession at the beginning of the year, the Italian economy defied predictions and further expanded during the first half, GDP growth in June (Q2 23) posted a 1% increase Y/Y, and leading institutions have already upgraded year-end expectations (above 1%).
Raffaella Pinto • 01/08/2023
Piazza Venezia, Rome, Italy
MarketBeat

Italy MarketBeat

Cushman & Wakefield MarketBeat reports analyse quarterly Italy commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels.
Raffaella Pinto • 23/07/2023
ITALIAN RE H2 YR
Insights

ITALIAN REAL ESTATE OVERVIEW H2 2022

We are leaving behind 2022, an eventful year: war, inflation, energy crises, interest rates. 4 words to define the year and which will continue to shape 2023. The second half of 2022 marked the turning point for the real estate industry: from the “lower for longer” to “higher for longer” interest rate environment. Italy chose a new Government led by a right-wing coalition and for the first time in years investors didn’t react with nervousness, thus avoiding further turbulence on the Country.

Of course, we still must find out what will be next, and we are aware that we can’t predict when the current headwinds will eventually subside. What we can do is read the past and look for opportunities for the next cycle. So: how was the market in 2022?
08/02/2023
couple with face masks on Milan street
Insights • Economy

Italy Real Estate Market View

A regular update on the commercial real estate market in Italy.
Raffaella Pinto • 23/09/2022
H1 2021 Italian Overview
Insights

Italian Real Estate Overview H1 2021

"This is the time to invest in Italy” - Jamie Dimon, Chairman and CEO J. P. Morgan. This sentence summarizes the momentum Italy is facing at mid-21: confidence is back, there is money to deploy for the structural reforms we need to fully recover and there’s still huge volumes of capital for real estate.

Raffaella Pinto • 28/07/2021
cover it re 2020
Insights • Economy

Italian Real Estate Overview Year End 2020

The resurgence of coronavirus cases in October led to a slowdown in the economic activity at the end of 2020 leading to a decrease in GDP in the fourth quarter, partially offsetting the sharp increase experienced in the third quarter. 
Raffaella Pinto • 24/02/2021
What's Next Data Center Webinar graphic
Article

Data Center Webinar

The Industrial & Logistics division, that also specializes in the Data Center market, has taken part in the event, “Real estate investments through Data Center: the impact of digital transformation on real estate asset classes” organized by AGIDI, or the Italian Association of Real Estate Legal Experts.
Alessandro Mancini • 17/09/2020
2020-reportcovid-italia-generic card image
Insights • Economy

COVID-19: The Italian Perspective

COVID-19 Information and analysis on what is happening in the real estate markets in Italy.
Joachim Sandberg • 22/04/2020

LOOKING FOR DATA?

Looking for more historic or specific property market data? Get in touch.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS