27 January, Milano Finanza
2017 was a record year for real estate investments in Italy, reaching 11 billion, an amount never reached before. The year was a record also for logistics, the real surprise of the year. This is what emerges from the survey by Cbre, the real estate management company, showing how logistics and offices were the main highlights of the year. And the segments will have another good year ahead, at least for what appears from the first quarter.
Logistics reported investments for over one billion and 200 million euro, almost the double of 2016 (+95%). Alessandro Mazzanti, Ceo for Cbre Italia, believes that “also for 2018, logistics will be the main driver, and we expect the sector will continue with the brilliant results reported in 2017”.
Positive outlook also for Jones Land LaSalle, confirming for 2018 the primary roles of offices, even though logistics is an emerging trend. Jll too confirms like logistics is a sector in expansion. In fact, the investment volume, net of the sale from the Pan European company Logicor owned by Blackstone to China Investment Corporation, has achieved the record amount of 800 million euro (+28% compared to 2016), thanks to a more dynamic rental market and strong support provided by e-commerce.
Always regarding logistics, the brokerage company World Capital has stressed how in 2017 the negotiations in this segment have been become quicker, having reduced to 8 months to close an operation. The average duration, however, is comprised between 8 and 12 months (63%), while the remaining 12% extends beyond 12 months. “We’re registering an increased activity by national and international investors and in faster times”, explains Neda Aghabegloo, responsible for the research department of World Capital, “gross returns for strategically located properties are comprised between 6% and 7.9%, representing a safe investment in Italy”. Also World Capital confirms that 2018 has started with a general growth of Italian logistical real estate, thanks to the excellent outcome of the main cities such as Milan and Rome.
Source: Milano Finanza
Translator: Cristina Ambrosi