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%).

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.

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?

A regular update on the commercial real estate market in Italy.

"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.

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. 

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.

COVID-19 Information and analysis on what is happening in the real estate markets in Italy.