Italy’s 2017 commercial real estate investment likely the best for 10 years
Transaction volume in Italy in 2017 should reach the highest level of the past 10 years, according to Colliers.
Investment volume in Italy totaled €5 billion ($5.9 billion) in the first half of the year, up by 43 percent compared with the same period of 2016, which totaled €3.5 billion ($4.1 billion).
It is the first time in the past 10 years that such a high quarterly volume (€3.1 billion/$3.7 billion) was recorded in the first part of the year.
The office sector is the preferred asset class for investors, which made up 48 percent, or €2.4 billion ($2.8 billion) of the total volume. The city of Milan is the principal destination, accounting for 43 percent of the transaction volume. The other primary market is Rome, with 30 percent of the transaction volume.
Colliers states investors are focused on core assets, namely fully let.
Investors preferred Northern Italy, which represented more than €2 billion ($2.4 billion) of the invested capit