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Secondo Immobiliare.it Insights, il quadro non è omogeneo, tra località con valori in aumento e molte, importanti, in calo. Milano resta la più cara (704 euro al mese, ma in flessione del 3,8%). In calo anche Bologna (-7,5 per cento). In salita Roma (+7%) e Firenze (+3,3 per cento)
Gantry has secured a $14.6 million construction-to-permanent loan for the Milano Issaquah Apartments, planned for delivery at 2300 Newport Way NW in Issaquah, just east of Seattle, Washington. Strategically located within the Central Issaquah Plan Area near major local employers, including Costco’s global…
Nel quartiere a nord-ovest di Milano recuperati 75mila mq, tra un hub per la formazione, 187 appartamenti e 6mila mq di verde. A settembre, Rossignol inaugura la sede italiana. Nuova società estera entro l’anno. Investimento globale, oltre 300 milioni
Altarea Commerce has been appointed to manage retail spaces across three lines of the Milan metro system.
Azora accelera il proprio sviluppo sul mercato italiano con l’apertura di una nuova sede a Milano e un piano di ulteriori investimenti per 1,5 miliardi di euro nei prossimi anni....
The Italian real estate market recorded €12.4 billion in investment volume during 2025, representing the highest level in six years and a 23% annual increase from 2024, with particularly strong performance in retail (€3.4 billion, up 39% year-over-year), hospitality (€2.4 billion), logistics (€2.2 billion), and living sectors (€1 billion, up 70%), alongside recovery in office investments (€1.9 billion) driven by core deals in Milan and Rome. Milan office take-up reached 405,000 sqm with prime rents rising to €850/sqm/year, while student housing investments doubled and the living sector achieved over 70% growth compared to 2024, reflecting strong investor confidence across multiple asset classes.
The Dils Research Team's Q3 2025 report documents Italian real estate investment activity, recording €2.6 billion invested in the third quarter and €8.0 billion over the first nine months of 2025 (a 21% increase versus 2024), with Retail sector performance reaching its best result in five years at €1.1 billion quarterly and €2.2 billion year-to-date. The report covers sector-specific findings including Hospitality's €2 billion year-to-date investment (56% increase), Logistics space absorption of 665,000 sqm in Q3, Office sector decline of 29% year-to-date, Living sector recovery to €650 million year-to-date, and residential sales market growth of 8.1% in Q2 2025 with 201,344 transactions nationally.
Milan's office market achieved 401,000 square meters of take-up in 2025 with a 6% year-on-year increase and 352 occupier transactions, ending two years of contraction, while Grade A/A+ premises represented 79% of total take-up. Prime office rents surged 11% in Q4 2025 to €800 per square meter per year in CBD Duomo and €760 in CBD Porta Nuova, though the overall vacancy rate edged up to 10.1% with CBD submarkets maintaining tight availability at 3.2% average vacancy.
Italian retail investment reached 700 million euros in the first quarter of 2026, up 23 percent year-over-year, with the sector ranking first in the country's investment market. High-street prime rents hit record levels in Milan at 16,000 euros per square meter annually, up 7 percent, and in Rome at 14,000 euros per square meter, up 8 percent, driven by international retailer demand for central locations.
In the first nine months of 2025, approximately €7.8 billion was invested in the Italian commercial real estate market, representing a 14 percent increase year-over-year, with retail driving growth while hospitality and living sectors also performed well. Prime net yields remained stable across asset classes, with shopping centres at 7.25%, logistics at 5.25%, office at 4.25%, and high street retail at 3.75%, while 230 deals were closed with international capital accounting for 53 percent of investment and Milan capturing 27 percent of total volumes.
The document analyzes Italy's office real estate market in the first half of 2025, reporting investment volumes of €900 million (up 15% year-over-year) with 29 deals, while Milan accounted for 79% of activity with prime rents at €750/sqm/year in the CBD Historic Centre. Milan's leasing market achieved 206,000 sqm take-up (up 17% year-over-year), marked as the second-strongest semester in five years, with occupiers increasingly favoring smaller flexible spaces under 1,000 sqm and Grade A space representing 77% of total leasing activity.
Dils' Q1 2025 analysis of the Italian real estate market reports total investments of approximately €2.7 billion, a 44% increase versus Q1 2024, with the Hospitality sector leading at €660 million and Logistics at €640 million. Rome's office market recorded take-up of 34,000 sqm with prime rent reaching €610/sqm/year, while Milan's office sector saw 105,000 sqm take-up and stable prime rent at €775/sqm/year, with national prime logistics yields declining to 5.30%.
In Q1 2026, Italy's real estate investment market totaled approximately €3.5 billion with international investors representing over 60% of volume, while retail and hospitality led by asset destination and private wealth investors concentrated over €400 million in the office sector. Prime office yields remained stable in Milan at 4.0% and compressed in Rome to 4.5%, with other assets ranging from 4.5% for multifamily to 7.0% for retail parks.
In Q1 2026, Milan's office leasing market recorded approximately 66,000 square meters of take-up plus 4,000 square meters in subleasing activity, with demand remaining robust and Grade A absorption accounting for 65% of total volume. Office investment in Milan totaled €260 million during the quarter, primarily driven by value-add repositioning strategies, while core assets in the CBD remained the primary focus for private investors, and Grade A vacancy held at approximately 3.6%.
Italy's logistics market recorded Q4 2025 take-up of approximately 840,000 sqm, representing a 56% increase above the quarterly average since early 2024 and a 40% increase year-over-year, driven by returning medium and large-scale transactions primarily from 3PL operators and fashion retailers. Investment volumes in industrial and logistics reached approximately €960 million in Q4 2025, more than double the previous quarter, bringing year-to-date investment to €2.17 billion (a 21% increase versus 2024), while the vacancy rate stood at 6.6% and prime rents maintained €70/sqm/year in Milan and Rome with prime yields compressing to 5.25%.
Cushman & Wakefield's Italy Retail Q4 2025 MarketBeat report examines the Italian retail real estate market, finding that Q4 2025 volumes reached €1.2 billion, bringing full-year investment to €3.5 billion with retail as the top-performing sector, while prime rents remained broadly stable with Milan at €20,000 per square meter annually and Rome at €16,000, and prime yields are expected to compress over 2026. The report notes Italy's economy showed weak but resilient growth of 0.5–0.6% for full-year 2025, with inflation easing to around 1.1–1.2% and an unemployment rate of 5.9%, while occupier demand remained strong in prime locations with brands including Mizuno, Champion, and Normal opening flagships, and the 2026 Milano-Cortina Winter Olympics stimulating retailer activity in mountain destinations.
Cushman & Wakefield's Milan Office MarketBeat for Q4 2025 reports that Milan's office market recorded 118,000 sqm of take-up in the quarter (up 5% year-on-year) and 376,000 sqm for the full year 2025, with a 10.8% vacancy rate and prime rent of €800/sqm/year across all property classes. Milan accounted for approximately 66% of Italy's national office investment volumes, reaching 1.1 billion euros for 2025, though investment remained below five-year averages; the market showed renewed investor confidence with Grade A availability at historic lows below 2% in central submarkets, supporting further rental growth despite limited supply.
Italy's real estate investment market recorded €4.63 billion in fourth-quarter 2025 sales volume, a 31% year-on-year increase, with retail leading at 25% of quarterly volumes followed by industrial & logistics at 21%, while full-year 2025 totaled €12.5 billion marking a 23% annual increase and confirming market recovery. Foreign investors contributed 58% of total capital, retail achieved €3.5 billion in full-year investment with major transactions including a €420 million Carrefour portfolio acquisition, and office investment reached €1.63 billion for the year despite remaining 17% below 2024 levels and 41% below the five-year average.
Italy's retail market in Q3 2025 showed cautious stability with GDP growth of 0.4% year-on-year, unemployment near 6%, and inflation at 2%, while prime rents remained flat in Milan (€20,000/sqm/year) and Rome (€16,000/sqm/year), with strong investor demand driving retail investment activity to approximately €1.1 billion in the quarter. Shopping center yields compressed by 25 basis points to 6.75%, and retailers including Lululemon, Alo Yoga, and Autry opened new locations in prime high-street areas, with further yield compression expected through late 2025 and into 2026 amid improving credit conditions and recovering retail turnover.
Italy's commercial real estate investment market recorded 2.41 €Bn in total volume during Q3 2025, representing a 31% decline from Q3 2024 but remaining stable relative to the five-year average of 2.38 €Bn, with retail leading at 45% of investment activity while year-to-date volumes reached 7.7 €Bn marking a 20% increase from the same 2024 period. The Italian economy showed cautious stability with GDP growth of 0.45% year-on-year, unemployment near 6%, and inflation around 2%, while foreign investors accounted for 53% of Q3 investment with capital flows directed primarily toward retail and industrial sectors.
Italy's logistics market recorded approximately 600,000 sqm of take-up in Q3 2025, a 24% increase from the previous two quarters, with the vacancy rate at 6.9% gradually rising due to recently completed speculative projects. Industrial and logistics investment volumes rebounded strongly to around 400 €Mn in Q3 (up 167% from Q2), while prime rents remained stable at €70/sqm per year in Milan and Rome with yields holding at 5.50%.
Cushman & Wakefield's Italy Retail Q2 2025 MarketBeat report covers the Italian retail property market, documenting prime rents (Milan €20,000/sqm/yr, Rome €16,000/sqm/yr, shopping centers €1,200/sqm/yr) and yields alongside macroeconomic conditions including 0.5% GDP growth and 5.90% unemployment. Investment activity increased 16% quarter-over-quarter to €670 million in Q2, bringing H1 2025 to €1.240 billion and doubling H1 2024 volumes, while occupier demand strengthened with new entries from sportswear and lifestyle brands (Lululemon, Alo Yoga, Autry) driven partly by anticipation of the 2026 Milano-Cortina Winter Olympics.
Milan's office market recorded 102,000 square meters of absorption in Q1 2025 with a 9.8% vacancy rate and €750/sqm/year prime rent, driven by strong Grade A demand representing 87% of quarterly volume, particularly from legal and IT sectors. Foreign capital accounted for 40% of the €410 million investment volume, with the two largest CBD transactions representing 43% of total investment activity and prime yields holding steady at 4.25% despite a 3% increase in prime rents over the quarter.