Investors turn their sights toward southern Europe
Southern Europe has begun to see increasing interest on the part of investors. A number of major portfolio sales have been transacted in Italy, Spain and Portugal.
In Italy, when the final tally has been made, the past year is expected to have total investment volume of approximately €5 billion, reports Cushman & Wakefield. The firm notes that provisional figures show an increase of 20 percent on the previous year.
According to Stephen Screene, head of capital markets Italy at Cushman & Wakefield, “2014 has seen the confirmation of interest in the Italian real estate market on behalf of foreign investors and increasing international capital flows. This momentum will continue into 2015, and we are forecasting the return of core Italian investors to the market together with increased interest from the new wave of APAC buyers who are now firmly focused on continental Europe.”
Retail has been the property type of choice, according to Cushman & Wake