Italian Real Estate operators show some signs of optimism for 2014. Around 65% of those interviewed expect an increase in product availability on the market (there were only 45% in 2013) and 70% forecast an increase in the volume of transactions (30% in 2013). These are the data emerging from the third edition of the EY Trend Indicator Real Estate Assets Investment Europe survey conducted in 15 European countries (a total of 500 respondents, of which 37 in Italy).
Corporate and debt restructuring processes, liquidation of real estate funds in liquidity crisis or maturing and a more active role by banks in the management of problem loans, especially in the leasing sector, are determining, according to EY, a strong increase in opportunities available to investors. However, this can only have an effect on prices, which are expected to fall in practically all segments, with the exception of luxury residential.
"However, there are some positive signs, especially as regards a certain growth of attention towards markets other than Milan and Rome, for example Turin and Bologna", comments Marco Daviddi, executive director of Transaction Real Estate at EY.
80% of survey participants expect greater interest from international investors, among the most active on the Italian market.
As far as M&A activity is concerned, only 48% of those interviewed believe that in 2014 we will see a consolidation in the real estate sector, while only 44% believe that the current market conditions make IPOs attractive and feasible.
Finally, the digital evolution is not seen as a risk by real estate operators; only 11% of those interviewed believe that this could lead to a reduction in workspace in the office sector, a percentage which rises to 16% in the retail sector and 22% in the industrial sector. On the other hand, however, over 50% of those interviewed believe that E-Commerce can gradually replace the "traditional" shop in peripheral and secondary locations.
