Global real estate consultant Cushman & Wakefield reports commercial real estate investment volume in Italy during 2014 is expected to be in the range of 5 billion euros ($6.1 billion USD), including single asset and portfolio transactions for all commercial market sectors (office, retail, logistics and hospitality).
The provisional figures show more than 20% growth in comparison with the previous year and the trend is expected to continue in 2015, which is in line with the EMEA market, where volumes are forecast to increase 20% next year to circa 250 billion euro.
Foreign investors are the most active players and continue to show increasing interest in the Italian market, being focused either on core assets or added value opportunities.
The retail market continues to represent the dominant sector of activity, covering approximately 45% of the overall investment volume, followed by the office and the hospitality sectors.
In 2014 the Cushman & Wakefield Italian Capital Markets team successfully completed and advised on transactions close to 1 billion euro across all commercial sectors, strengthening their dominant position in the Capital Markets arena.
Retail has remained the investment asset of choice both high streets and shopping centres, as highlighted by the recent acquisition of the 8 Gallery shopping centre in Turin on behalf of GWM for circa 80 million euro.
Demand is strong for quality office investments and Cushman & Wakefield’s sale of the iconic trophy office building in via Santa Margherita, Milan for a record pricing level, further enhanced the demand from International investors for core assets in Italy.
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