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Real estate, the investment boom continues

27 October, Milano Finanza

It’s not the only the numbers proofing the health of the real estate sector, but investments in real estate in Italy continue to grow and reached 7.1 billion in terms of volumes over the nine months of 2017. A better result by 31% compared to the same period of last year confirming the positive trend of the sector. The figures were announced yesterday during the fourth edition of Coima Real Estate Forum, with the participation of 200 players of the industry, the representations of 50 major Italian and international institutional investors (among the names Caisse National des Quebec, Psp, Gic, Qia and Oman) for over 1.6 billion euro. As confirmed in front of an international audience, these investments continue to be supported by an increasing attractivity of international capital compared to the past and a more positive economic situation of the country.

In the Italian scenario, Milan remains the biggest success, becoming more and more “an opportunity for the international investors”, explained Coima Res Ceo Manfredi Catella. “There are still plenty of areas to complete and develop”, to the point that, echoed Gabriele Bonfiglioli, head of investments of the group, the city of Lombardy “is the only Italian city able to compete at European level”. Peter Papadakos, Green Street manager, has shown that the return of an office in Milan is 4.9% against that of government bonds of 2.1%, while in London the returns are 5.2% for offices and 1.4% for government bonds. There has been also space to talk about PIRs (individual saving plans), and Fabrizio Pagani, head of the technical office of the Minister for Finance explained “they have been a success in terms of amounts collected. We were expecting 1.8 billion per year, while, according to the forecast, we might reach 10”. These instruments, confirmed Catella, can “stimulate the demand for investments in real estate companies and increase their capital and attract international investors”. Moreover, concluded, Dominique Moerenhout, Epra Ceo, the European association for listed real estate companies, the extension of Pir to the real estate sector not only is “ a great opportunity” but also aligns Italy to other countries such as “France or Belgium, where many private investors can access to real estate sector”.

Source: Milano Finanza

Transaltor: Cristina Ambrosi