Growing real estate investments in Italy, with volumes that in 2021 amounted to 9,8 billion euros, up 6% compared to 2020. The push came above all in the fourth quarter, a period in which investments were made for 4,4 billion, about 32% more than in the same period of 2020. This is certified by Dils, a company that last year was involved in operations, including brokerage and advisory, for around 3,2 billion.
Going into details, 2021 logistics was the protagonist absolute share of the market, reaching 28% of the total volume invested (2,7 billion), with an increase of 83% compared to 2020 in terms of volumes transacted. The sector recorded a take-up of 2,5 million m2021 at the end of 9,3 (+2020% compared to 32), of which 790.000% in the last quarter (approximately 14 m26). 4,6% of the annual take-up concerned speculative developments, 58% new warehouses for e-commerce, and 47% came from express courier projects, whose activity is often linked to e-commerce. In Milan and Bologna, prime rents reached €XNUMX/sqm/year, while in Piacenza they amounted to €XNUMX/sqm/year. Bologna in particular recorded the greatest increase in percentage terms.
The second preferred asset class by investors is that of Offices, which in 2021 recorded total transactions for 2,3 billion (with Milan in the lead for almost 1,8 billion euro), down compared to 2020 but partially recovering in the last quarter, with 760 million invested which contributed to reduce the gap with the previous year.” The still uncertain context due to the persistence of the pandemic has contributed to orienting investment decisions towards core-type office products (with a contracting outlook for prime net yield), rather than favoring deals with higher risk profiles which, on the other hand, we believe will be protagonists again starting from 2022, also in consideration of the absorption data achieved", comments Dils in his report.
There is a strong recovery in theHospitality – which in the last quarter of 2021 totaled 760 million, equal to more than the sum of the previous three quarters, for a total of 1,4 billion (+58% compared to 2020) – and Retail, which in the fourth quarter recorded an invested volume of approximately 978 million (almost four times the volume of the first nine months of the year), closing the percentage gap with the previous year and bringing it to a more contained decrease equal to -9,6 .XNUMX%. "The finalization of a deal involving a large portfolio with an important High Street Retail component in Milan and Turin contributed in particular to this volume", underlines the company. Well also the living, which last year reached an all-time high in investments, with a volume of 780 million, surpassing the already record result of 2020
“Nationally, the first nine months of 2021 show a robust residential buying and selling market (536.000 NTN) recording an increase of +23% on the levels of 2019 and of +43% on 2020. The excellent dynamism of the last quarter suggests a closing of the year with absolutely performing results”, predicts Dils.
Giuseppe Amitrano, CEO of the company commented: “Despite the initial premises, 2021 proved to be a particularly positive year and the forecasts made by Dils were confirmed as early as the end of the first half. For 2022, we believe that the Logistics and Living sectors will continue to be protagonists and we expect a strong recovery in investments also in the Office sector in Milan and Rome, not only for core capital, but we will see a return of the value add aimed at the development of buildings and urban regeneration characterized by new hybrid and innovative concepts. This time the initial conditions appear more optimistic than last year and we expect a growing volume of investments and values, with yields in a further slight contraction."
