Real estate market, investment boom (+70%). Milan attracts investors
Il European commercial real estate market remains highly attractive for investors and restarts its growth path. During the first half of 2022 the real estate investments increased compared to the same period of 2021 (approximately 20 billion euros and an increase of approximately 70%), only to then slow down due to the high levels of inflation, the increase in funding rates, and the increase in the levels of economic uncertainty, the increase in energy costs and the persistence of the Russian-Ukrainian conflict, compensated, however, by important transactions concluded at the end of the year which led the total volumes to exceed the levels of 2021: 40 billion euros of total investments, for an increase of about 20%.
Forecasts for 2023 are uncertain and strongly correlated to the economic sustainability of rents and their ability to affect returns. France, Germany and the United Kingdom continue to be the most attractive markets for capital destined for commercial real estatewith investments that reached 6, 8.25 and 8.1 billion respectively in 2022, while a contraction was recorded in Italy, with a total value of just under 1 billion euros.
This is what emerges from Commercial real estate market report 2023presented today in Milan by Scenari Immobiliari during the conference “LIVING IN A TWO-SPEED WORLD – City shops and shopping centers of the new decade”.
“Consumers, in Italy, in Europe, in the world – he comments Francesca Zirnstein, general manager of Scenari Immobiliari – have returned to the shops and, at the same time, their online shopping habits have become continuous and defined. Commercial places, shops, large surfaces are changing shape and relationship with public space. Real estate investments in the sector are growing and, at the same time, institutional investors have become more speculative”.
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